There is no change to your Irish Life plan. However, Ulster Bank will no longer be able to provide advice to customers on Irish Life plans taken out through them. Ulster Bank are transferring this advice service to Irish Life Financial Services (ILFS).
Ulster Bank have written to all Irish Life customers in May 2022, telling them of the advice service transfer to ILFS. Customers have 2 months after receiving this letter to opt out of advice service provided by ILFS and to transfer their plan to another financial advisor.

Yes, if you pay your Irish Life plan through an Ulster Bank current account then you will need to switch your direct debit to another bank account before Ulster Bank close your current account in the future. This will ensure your plan benefits are maintained.

Your plan will transfer to Irish Life Financial Services after 31 July 2022, however as your plan is already provided by Irish Life Assurance there is no impact on your plan.
You will receive communication from Irish Life Financial Services after this transfer.

Ulster Bank are transferring the service of advice for their Irish Life customers to Irish Life Financial Services who provide the same range of advice that you would have received through Ulster Bank.
In many cases it will be the same Advisor who you dealt with in Ulster Bank as these Advisors have been employed by Irish Life Financial Services to work on behalf of Ulster Bank.

As your plan is provided by Irish Life Assurance, the following will remain the same:
·        The terms & conditions of your plan
·        Your plan benefits
·        The cost of your plan
·        How we communicate with you

Ulster Bank will only transfer the data that you supplied to the Advisor when you were setting up your plan. They will not be transferring any data not related to the plan such as bank records.