Protection Solutions

The importance of your Protection Portfolio

Guaranteed Whole of Life for legacy planning

Life Cover to protect your loved ones

Critical Illness Cover Including Serious Injuries – to protect yourself and your loved ones

When it comes to long-term wealth planning, your Protection Portfolio can be as important as your investments. Even so, wealth protection is something investors often overlook - the UK Protection Gap has been estimated at £2.4trillion1.

1Swiss Re Research, 2012 (

No one can predict the future, but having a tailored mix of insurance products in place can be vital to help you and your loved ones benefit from your hard-earned wealth, even if the worst happens.

The specialist advice you need, at every stage of life

Your protection needs can change considerably over time, with marriage, parenthood, home ownership, career changes, retirement and other life events all potentially playing their part. Investors should therefore review their protection at multiple points throughout life to help safeguard against getting caught out.

Our Insurance Specialists are here to help assess the suitability of your current protection and choose the right combination of insurance products for your needs. They work closely with your Relationship Manager to help ensure your protection portfolio is fully in tune with your overall wealth strategy.

Why Life Cover is important

If you or your spouse dies, Life Cover can offer the surviving partner and other loved ones the financial stability to maintain their current standard of living. When thinking about what life cover you might need, you may consider things like:

  • Paying off your mortgage
  • Eliminating business and other debts
  • Funding your children’s education
  • Supplementing your surviving spouse’s retirement
Read the Smith family Case Study
Life Cover with Citi

Brought to you in partnership with Old Mutual Wealth, our Life Cover pays out a sum if the assured person dies or, in some cases, is diagnosed with a terminal illness. The amount you pay is guaranteed to remain the same throughout the policy term if cover remains unchanged*. You also have a choice of terms:

  • Fixed term: cover can last from 5 to 40 years
  • Rolling term: a 10 year renewable term that can last for the whole of your life
  • Guaranteed whole of life: can last for as long as you need it

* Fixed term and guaranteed whole of life only

Why Critical Illness Cover could be essential

Depending on your situation, Critical Illness Cover could be even more important than Life Cover. A 50-year-old man, for example, is four times more likely to suffer a critical illness at that age than to die1.

Critical Illness Cover gives you choices. The payment on diagnosis is tax-free and can be used in any way you wish:

  • Fund better treatment and care
  • Modify your home to suit your situation
  • Cover your expenses whilst being off work
  • Pay down some or all of your mortgage
  • Continue recuperating after Sick Pay stops
  • Consider or facilitate a career change
  • Fund an extended holiday to help you recuperate

1Source: Old Mutual Wealth (

Critical Illness Cover with Citi

Brought to you in partnership with Old Mutual Wealth, our Critical Illness Cover pays out an agreed sum if you are diagnosed with, or need treatment for, a serious illness or condition detailed in the plan's list of 65 illnesses, conditions and treatments which includes terminal illnesses and serious injuries. Up to the age of 21, your children can also benefit from cover at no extra cost.

Critical Illness Facts you should know

A Guaranteed Whole of Life policy offers different benefits depending on your situation. Citi provides these products in partnership with insurance specialists Old Mutual Wealth.

Estate planning: a Guaranteed Whole of Life policy can help to mitigate the inheritance tax1 incurred by your loved ones, by allowing you to pass them a potentially tax-free lump sum separately from your estate. This can be used to pay some or all of their inheritance tax bill, allowing those parts of your legacy that mean the most, for example, your home, to be passed on intact, and more efficiently.

How a Guaranteed Whole of Life policy can help
  • Our Insurance Specialists can help you establish your goals and priorities in passing on your wealth. They can work with you and your independent tax advisors to establish an appropriate “sum assured” for your policy to cover your likely inheritance tax liability from your estate .
  • Premiums will remain the same for the duration of the policy, and the “sum assured” will be paid out as long as you are paying the premiums up to the date of your death.
  • The policy can be placed in a free trust offered by Old Mutual Wealth, allowing the proceeds to pass directly to your beneficiaries without forming part of your estate. This money can then be used to settle all or some of the inheritance tax, enabling your executors to distribute your legacy according to your wishes.
Passing on your wealth: things to consider

1Please note: Citi does not provide tax advice. We strongly recommend that you seek independent tax advice to determine whether this product fits your requirements.

Why Choose Citigold Wealth Management?


A goal-based wealth advisory service with access to a wide range of onshore and offshore investment solutions to help create a wealth strategy that is tailored to your needs

Your Team

Your dedicated Relationship Manager is an experienced investment advisor and works as part of a team alongside Insurance and FX specialists to help you achieve your unique wealth goals


To help inform your investment decisions, Citi Analysts bring you regular in-depth global Market Insights. You can join us for exclusive investment seminars and webinars with top Citi specialists and industry experts.

Global Privileges & Offers

An array of exclusive, curated lifestyle privileges and a global banking proposition with worldwide Citigold status recognition

Take the first steps to your wealth management planning with Citi

Already with Citi? Contact your Relationship Manager or view product availability on Citi Online

Important information

All policies are subject to application and underwriting. Further terms and conditions apply and can be obtained in branch or through your relationship manager. Protection products are arranged by Citibank UK Limited and provided and underwritten by Old Mutual Wealth Life Assurance Limited. Registered in England and Wales, Registered Number 1363932. Old Mutual House, Portland Terrace, Southampton SO14 7EJ. Authorized by the Prudential Regulation Authority and regulated by the Financial Conduct authority and the Prudential Regulation Authority – Financial Services Register Number 110462.

Investment and insurance products are not insured by any governmental agencies, are not bank deposits, and are neither obligations of, nor guaranteed by, Citigroup, or any of its affiliates, unless otherwise stated. Investment products are subject to investment risks, including possible loss of some or all of the principal amount invested. Past performance is not indicative of future results, investments can go down as well as up.