Life Insurance Made Simple

We'll get your life insurance quotes from the UK's leading insurers

What is life insurance?

Life insurance pays a lump sum (or with Family Income Benefit, a regular income) if you die during the policy term. Whole of life assurance pays out whenever you die.

People often use a payout to repay a mortgage and debts and help with regular bills and day-to-day living costs.

Types of life insurance (choose what suits your world)

Several products fall under the life insurance umbrella:

Level term life insurance

Pays a fixed lump sum if you die during the term. Good for general outgoings and providing a consistent amount of support. Premiums usually stay the same.

Increasing (index-linked) life insurance

Cover increases each year (typically with inflation), so your life insurance policy keeps its real-world value. Premiums usually rise as cover rises.

Decreasing term life insurance (mortgage protection)

The payout reduces broadly with a repayment mortgage. Often the most affordable way to protect a major debt. Premiums typically remain fixed.

Whole of life

A guaranteed payout whenever you die; often used for funeral costs, paying a potential inheritance tax liability or leaving a gift. You might have heard of over 50s plans, which are a type of whole of life policy, with guaranteed acceptance - no medical questions - but a lower payout.

Family Income Benefit (FIB)

Instead of a lump sum, provides a regular/annual income until the policy ends - helpful for long-term budgeting.

Helpful tip: Many households combine decreasing term (for the mortgage) with a smaller level term policy (for ongoing costs).

Sometimes life insurance is used to describe a group of covers (sometimes called 'protection' insurance that help when life goes wrong).

For a quick lowdown:

• Life insurance - pays money if you die.

• Critical illness cover - pays a tax-free lump sum if you get a serious illness named in the policy (such as some cancers, a heart attack or a stroke). Learn more about critical illness cover.

• Income protection insurance - pays you money each month if illness or injury stops you working. It usually pays a part of your pre-tax income until you return to work, reach a time limit, or reach retirement age. It does not cover redundancy. Learn more about income protection insurance.

• Business protection & relevant life cover - if you own, run or are a partner of your own company, you can buy life insurance through your company for you, you partners/shareholders and key staff. Often with tax advantages. Learn more about business protection and relevant life cover.

How much does life insurance cost?

How much you pay – your monthly premium - depends on:

• Your age
• Your health and family health history
• Your smoker status
• Your occupation
• Cover amount
• Cover type – level, increasing or decreasing 
• Cover length 
• Single or joint life insurance policy 
• and any paid-for add benefits 

Your lifestyle, health history and job can change the price and conditions of your cover. Insurers treat these things differently.

Example costs

The price you pay for life insurance varies significantly depending on your personal circumstances and the level of cover you need.

The table below shows a representative monthly cost for different levels of cover at different ages for £200,000 level term cover lasting 20 years. This is the level of cover is closest to the average level term cover of £201,000 taken out in 2024, according to the latest data from reinsurance company Swiss Re.

The figures show how strongly price is driven by age, with costs rising for people who take out cover when older. The type of policy also makes a difference. Level term cover pays out a fixed amount, but decreasing term cover - often used alongside a repayment mortgage - reduces over time and is typically cheaper. For example, a 31-year-old non-smoker would pay around £6.85 a month for decreasing term cover, compared with £8.20 for level term. 

Health and lifestyle matter too. For example, a 41-year-old smoker could pay around £35.62 a month for level term cover, compared with £16.20 for a non-smoker of the same age.

*Quotes based on £200,000 level-term life insurance over 25 years for a non-smoker. Figures are the average of the five cheapest quotes available at each age, using Iress data and obtained in April 2026. Prices are for illustration only and will vary depending on your personal circumstances and the policy you choose.

Price matters - but value matters more

Price is important, but the cheapest quote is not always the best. What matters most is choosing the policy and insurer that are right for your needs and your life. One that will do the right thing when it really counts.

Look beyond the headline price

Two policies can cost the same but work very differently. The best insurer is not always the cheapest one. When you compare life insurance, look at:

• what exclusions apply 
• whether premiums are guaranteed or reviewable 
• whether you can increase cover later without new medical checks 
• how illnesses, disabilities and terminal illness are defined.

The best life insurance is usually the one with clear terms and fewer surprises, not the one with the lowest price.

Comparing life insurance quotes helps you see how price, cover and insurer terms differ - not just the monthly premium.

Pre-existing health conditions

Many people with health conditions (for example asthma or diabetes) can still get cover. Gone are the days when a long-time health condition ruled you out of life insurance. Insurers assess the nature, severity and how well the condition is managed, alongside other risk factors.

We can help match you to insurers likely to offer fair terms.

Single vs joint life insurance

If you’re married, in a relationship or cohabiting, you can buy two single policies, or one joint policy.

• Two single policies: mean each life is covered separately - two policies, two life insurance premium payments, two potential payouts.

• One joint policy: usually pays once only, on first death, then it ends. The survivor is no longer insured under that policy. So, at that point, they’ll need to apply for their own cover based on their circumstances and health - at that time.

Setting up your policy so it pays out quickly

Trusts & beneficiary nomination

Putting your policy in trust can help money reach the right people faster and may reduce Inheritance Tax. We’ll guide you through and set it up, at no extra cost. Learn more about trusts and wills.

Claims - real help when it matters most

Claims are the real test of any insurer. Many insurers publish claims statistics, which show how many claims they pay and why some aren’t paid. The percentage alone does not tell the full story. What matters is why claims are declined.

Insurers who explain their decisions clearly, in plain English, tend to inspire more trust.

Service matters as well. Claims are the moment when customers most need help. By then, it is too late to switch. Look at independent reviews, industry standards, and whether an insurer follows the Protection Distributors Group Claims Charter. This can give you a sense of how the insurer behaves when people need support the most.

If you need to claim, our dedicated claims team can support you and your loved ones through every step, at no extra cost.