Sources#

Source ids [S#]/[R#] are carried verbatim from _research/term-assurance.md (the citation ground truth for this product) and are frozen — never renumber. Unused sources are omitted, so the R-numbering has gaps (R4 and R7 are not cited by the product documents). Access date for all sources: 2026-08-03. No sources were newly added at drafting. Cross-product [REG-R#] tags are listed in their own section at the end.

Primary product sources#

S4 — Legal & General, adviser product page “Life Insurance” (product spec page)#

  • Publisher: Legal & General

  • Doc type: technical/product page (adviser)

  • URL: https://www.legalandgeneral.com/adviser/protection/products/personal-protection/life-insurance/

  • Accessed: 2026-08-03. Retrieved: YES (fetched twice; second fetch specifically to verify decreasing-cover wording)

S5 — Legal & General, consumer page “Decreasing Life Insurance”#

  • Publisher: Legal & General

  • Doc type: product page (consumer)

  • URL: https://www.legalandgeneral.com/insurance/decreasing-life-insurance/

  • Accessed: 2026-08-03. Retrieved: YES

S6 — Aviva, “Life Insurance+ Policy Conditions” (policy conditions)#

  • Publisher: Aviva Life & Pensions UK Limited

  • Document: Life Insurance+ Policy Conditions, document code AL50002C, print code AV1205808_AL50002_0425 (April 2025), 49 pp.

  • Doc type: policy conditions

  • URL: https://static.aviva.io/content/dam/document-library/adviser/individualprotection/al50002c.pdf (server returns 403 to plain fetchers; retrieved successfully with a browser user-agent)

  • Accessed: 2026-08-03. Retrieved: YES (full PDF downloaded, text extracted and read)

S7 — Aviva, “Policy Summary of Life Insurance+” (policy summary)#

  • Publisher: Aviva Life & Pensions UK Limited

  • Document: Life Insurance+ Policy Summary, document code AL50001C, print code AV1262758_AL50001_0425 (April 2025), 31 pp.

  • Doc type: key features document / policy summary

  • URL: https://static.aviva.io/content/dam/document-library/adviser/individualprotection/al50001c.pdf

  • Accessed: 2026-08-03. Retrieved: YES (full PDF downloaded, text extracted and read)

S8 — Royal London, “Personal Menu Plan — Life or Critical Illness Cover — Plan Details” (policy conditions)#

  • Publisher: The Royal London Mutual Insurance Society Limited

  • Document: Plan details for the Personal Menu Plan Life or Critical Illness Cover, document code PCP8P10010 (July 2025 edition), 84 pp.

  • Doc type: policy conditions (Royal London call these “plan details”)

  • URL: https://adviser.royallondon.com/globalassets/docs/protection/pcp8p10010-plan-details-for-the-personal-menu-plan-life-or-critical-illness-cover.pdf

  • Accessed: 2026-08-03. Retrieved: YES (full PDF downloaded, text extracted and read)

S9 — Royal London, adviser page “Life cover — Product details”#

  • Publisher: Royal London (adviser site)

  • Doc type: technical/product page (adviser)

  • URL: https://adviser.royallondon.com/protection/personal-protection/life-cover/detail/

  • Accessed: 2026-08-03. Retrieved: YES

Regulatory and actuarial references#

R1 — PRA Rulebook, Technical Provisions Part, Chapter 3 “Best Estimate”#

  • Publisher: Bank of England / Prudential Regulation Authority

  • URL: https://www.prarulebook.co.uk/pra-rules/technical-provisions/3-best-estimate/24-07-2024?p=1

  • Accessed: 2026-08-03. Retrieved: YES (rulebook as at 24/07/2024; site blocks plain fetchers, retrieved with browser UA)

R2 — PRA Rulebook, Technical Provisions – Further Requirements Part, Chapter 13 “Cash-Flows”#

  • Publisher: Bank of England / PRA

  • URL: https://www.prarulebook.co.uk/pra-rules/technical-provisions-further-requirements/13-cash-flows/14-01-2025?p=1

  • Accessed: 2026-08-03. Retrieved: YES (rulebook as at 14/01/2025)

R3 — PRA Rulebook, Technical Provisions – Further Requirements Part, Chapter 3 “Boundary of an Insurance or Reinsurance Contract”#

  • Publisher: Bank of England / PRA

  • URL: https://www.prarulebook.co.uk/pra-rules/technical-provisions-further-requirements/3-boundary-of-an-insurance-or-reinsurance-contract/31-12-2024?p=1

  • Accessed: 2026-08-03. Retrieved: YES (rulebook as at 31/12/2024)

R5 — Bank of England news, “Conclusion of the Solvency II Review” (PS15/24)#

  • Publisher: Bank of England / PRA

  • URL: https://www.bankofengland.co.uk/news/2024/november/conclusion-of-the-solvency-ii-review

  • Accessed: 2026-08-03. Retrieved: YES (site blocks plain fetchers; retrieved with browser UA)

R6 — Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Schedule 1#

  • Publisher: legislation.gov.uk (UK statutory instrument SI 2001/544)

  • URL: https://www.legislation.gov.uk/uksi/2001/544/schedule/1

  • Accessed: 2026-08-03. Retrieved: YES

R8 — FCA, MS24/1.3 “Structure of the UK pure protection market for retail customers”#

  • Publisher: Financial Conduct Authority (Pure Protection Market Study MS24/1)

  • URL: https://www.fca.org.uk/publication/market-studies/ms24-1-3.pdf

  • Accessed: 2026-08-03. Retrieved: YES (27 pp., text extracted and read)

R9 — FCA, MS24/1.4 “Pure protection market study — interim report”#

  • Publisher: Financial Conduct Authority

  • URL: https://www.fca.org.uk/publication/market-studies/ms24-1-4-market-study-distribution-pure-protection-products-retail-customers-interim-report.pdf

  • Accessed: 2026-08-03. Retrieved: YES (47 pp., text extracted; lapse and conduct sections read)

R10 — IFoA blog, “CMI: New ‘16’ Series term assurance mortality and accelerated critical illness tables”#

  • Publisher: Institute and Faculty of Actuaries (blog)

  • URL: https://blog.actuaries.org.uk/cmi-new-16-series-term-assurance-mortality-and-accelerated-critical-illness-tables/

  • Accessed: 2026-08-03. Retrieved: YES

R11 — IFoA/CMI, “CMI mortality and morbidity tables” page#

  • Publisher: Institute and Faculty of Actuaries / CMI

  • URL: https://www.actuaries.org.uk/learn-and-develop/continuous-mortality-investigation/cmi-mortality-and-morbidity-tables

  • Accessed: 2026-08-03. Retrieved: YES

R12 — IFoA, “Formulae and Tables 2025 Edition: summary of changes”#

  • Publisher: Institute and Faculty of Actuaries

  • URL: https://actuaries.org.uk/formulae-and-tables-2025-edition-summary-of-changes/

  • Accessed: 2026-08-03. Retrieved: YES

R13 — CMI, “‘00’ series tables” page#

  • Publisher: IFoA / CMI

  • URL: https://www.actuaries.org.uk/learn-and-develop/continuous-mortality-investigation/cmi-mortality-and-morbidity-tables/00-series-tables

  • Accessed: 2026-08-03. Retrieved: YES

R14 — IFoA news, “CMI publishes CMI_2024 Mortality Projections Model” (30 June 2025)#

  • Publisher: Institute and Faculty of Actuaries

  • URL: https://actuaries.org.uk/news-and-media-releases/news-articles/2025/jun/30-jun-25-cmi-publishes-cmi_2024-mortality-projections-model/

  • Accessed: 2026-08-03. Retrieved: YES

  • Note carried from research file: a newer CMI_2025 (March 2026, WP211) was reported in search results but its page was not fetched for the product research — the product documents cite CMI_2025 via REG-R30 (fetched for the cross-product library), which resolves that gap.

R15 — FRC, “General Technical Actuarial Standards (TAS 100)” library page#

  • Publisher: Financial Reporting Council

  • URL: https://www.frc.org.uk/library/standards-codes-policy/actuarial/tas-100/

  • Accessed: 2026-08-03. Retrieved: YES

R16 — FRC, “Insurance Technical Actuarial Standard (TAS 200)” library page#

  • Publisher: Financial Reporting Council

  • URL: https://www.frc.org.uk/library/standards-codes-policy/actuarial/tas-200/

  • Accessed: 2026-08-03. Retrieved: YES

Cross-product references ([REG-R#])#

[REG-R#] tags resolve against the cross-product UK reference library references/regulatory-and-actuarial-references.md (its own R-numbering, R1–R38, frozen; research provenance in _research/regulatory-actuarial.md). Entries cited by the term assurance documents:

  • REG-R1 — PRA Rulebook, Technical Provisions Part (TP = best estimate + risk margin; best-estimate definition). fetched_ok: yes.

  • REG-R4 — The Insurance and Reinsurance Undertakings (Prudential Requirements) (Risk Margin) Regulations 2023 (SI 2023/1346): 4% cost-of-capital rate, life risk-tapering factor λ = 0.9, floor 0.25. fetched_ok: yes.

  • REG-R11 — FCA Handbook ICOBS (application to non-investment insurance contracts, ICOBS 1.1.1R). fetched_ok: yes.

  • REG-R12 — FCA Handbook PRIN 2A — The Consumer Duty. fetched_ok: yes.

  • REG-R17 — Finance Act 2012, Part 2 (BLAGAB definition; post-2012 protection business taxed on trade profits). fetched_ok: yes.

  • REG-R20 — Consumer Insurance (Disclosure and Representations) Act 2012 (consumer misrepresentation remedies). fetched_ok: yes (contents).

  • REG-R30 — CMI Mortality Projections Model CMI_2025 announcement (March 2026, Working Paper 211). fetched_ok: yes.

  • REG-R32 — ONS National life tables (UK series; freely redistributable population mortality under OGL). fetched_ok: yes.

  • REG-R38 — UK Endorsement Board, IFRS 17 Insurance Contracts (UK adoption 16 May 2022, effective 1 January 2023). fetched_ok: yes.

Provenance note#

Extraction details — which facts were read from which source, section-level notes, and the gaps/caveats register (unpublished premium rates, the Aviva decreasing-rate value, subscriber-only CMI “16” Series tables, unfetched ICOBS handbook text, renewable/convertible term status, reinsurance cession rates) — live in _research/term-assurance.md. That file is the citation ground truth for the S# and R# numbering used here.

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