Determine what you need
Consider your finances, debts, future expenses, and beneficiaries' ongoing and future needs to determine the appropriate coverage and insurance type.
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LIFE COVER Quotes FROM £4.001
Find tailored life cover at the right price by comparing deals from leading UK insurers, all in one place.
1Based on £100,000 worth of level term cover for a 30-year-old non-smoker with no pre-existing medical conditions over a 20-year period. May 2023.
2Accurate as of September 2023
†Gift Card value varies based on the first monthly premium of the policy and will be confirmed on the results page.
Take out life insurance online through MoneySuperMarket and receive an Amazon.co.uk Gift Card** worth up to £225.
The gift card is redeemable within 40 days of the 6th life insurance payment. Gift Card value varies based on the first monthly premium of policy and the brand you choose and will be confirmed on the results page. Terms and conditions apply. Not available to those who’ve received a voucher with life insurance purchased after the 1st of May 2022. One voucher per person, the offer ends on 30th September 2023.
**Restrictions apply, see www.amazon.co.uk/gc-legal
Life insurance is a type of policy that offers financial support to your loved ones upon your passing.
It provides a lump sum payout that can clear debts, mortgages, and cover living expenses for your family. Some policies also offer regular income options.
While not legally required, life insurance offers peace of mind by creating a financial safety net for your family during difficult times. Certain mortgage lenders might mandate life insurance to ensure your mortgage is paid off if you pass away.
For more read our guide What is life insurance?
Life insurance pays a lump sum to your beneficiaries if you die while the policy is active. Here's a summary of what you can expect:
When applying for life insurance, you need to provide personal details such as your age, health, and lifestyle habits. Based on this information, providers assess your coverage needs and risk level.
If eligible, the insurer will offer you a life insurance policy that outlines the terms and conditions of the policy and the premium you will need to pay either annually or monthly.
If you pass away within your policy term, your beneficiaries must file a claim with your insurer. Once verified, they'll receive a lump-sum payment as specified in your policy.
When considering whether life insurance is right for you it's important to know under what circumstances a standard policy will pay out:
Death from natural causes, such as age or terminal illness
Cancer
Death by homicide (providing the beneficiary was not involved)
Accidental death (unless taking part in an excluded high-risk activity)
Suicide (some providers may cover suicide but only if you have had a policy for a certain period of time)
Pre-agreed excluded conditions (usually related to pre-existing health problems)
High-risk / dangerous activities
Drug and alcohol abuse
Undisclosed health conditions
Fraud (if you lie to your provider in your application, they will not pay out)
According to the latest figures from the Association of British Insurers (ABI), with an average life insurance pay-out of £73,5783
3Source:Group Risk Development (GRiD) 2022 full claims statistics
MoneySuperMarket offers two main types of life cover with features to suit differing needs and budgets.
Level term policies have a fixed pay-out that stays the same for the whole policy. No matter when during the policy you pass away, your beneficiaries will always receive the full amount.
Your premiums stay the same
You know how much your policy will pay out
More expensive
Doesn’t account for inflation
Decreasing term policies have a pay-out that decreases over time, ending when the pay-out reaches zero. People often use these policies to cover debts like a loan or mortgage and decrease them to match the rate at which they pay off the loan.
Usually cheaper than other policies
Suitable protection for a mortgage or debt
Your pay-out decreases over time
There is little to no pay-out remaining once you have paid off the debt
When considering life insurance, it's important to assess your coverage requirements. How long will you need cover for and what expenses would you like to cover?
Our handy life insurance calculator makes it easy.
Simply answer some questions about mortgage or rent payments, living and household expenses, outstanding debts, childcare costs, and funeral costs and our calculator will give you a recommendation for the appropriate amount of cover.
Read our guide for more conclusive information on how much life insurance you may need.
"Life insurance will give you and your loved ones peace of mind and financial support in case the worst happens. It can serve a variety of needs, such as covering living costs, covering funeral costs, repaying a mortgage, or it can be used as a gift. We all have different reasons to take out life insurance, and there is a good variety of different policies and cover levels to choose from to tailor your policy to your needs.
"
Consider your finances, debts, future expenses, and beneficiaries' ongoing and future needs to determine the appropriate coverage and insurance type.
Select a suitable policy type for your needs. Choose a level-term policy for predetermined pay-outs and decreasing-term life insurance for any debts.
Compare quotes with MoneySuperMarket to evaluate cover, premiums, and policy details all in one place. Find affordable and personalised cover for your needs.
Level and decreasing term policies are popular types of life insurance, but other options are available including:
Joint life insurance allows you to insure more than one person on the same policy. You and your partner both have the same insurance coverage. You can choose to receive the payout after the first death or the second death.
Over 50s life insurance policies are more expensive than standard life insurance. However, it typically doesn't have an age restriction and often doesn't require any medical inquiries during the application process.
Life insurance with combined critical illness cover will pay out if you pass away or are diagnosed with a critical illness. This hybrid cover costs more but critical illness cover can be worth it for the added protection.
No-medical life insurance is a type of policy that does not require a medical exam or health questions. However, this type of insurance typically has higher costs and offers less coverage.
Life insurance monthly premiums can start from as little as £4 a month3 when buying through MoneySuperMarket. However, insurance companies price life insurance differently for everyone based on their personal details and the options they choose for their policy. Life insurance providers will consider the following when assessing the cost of your policy:
If you take out a higher level of cover, your monthly payments are likely to be higher. Also, by choosing a longer lifespan for your policy, the more you’ll pay overall.
Generally speaking, the older you are, the more expensive life insurance tends to be. This is because as you get older you have a greater chance of developing health problems.
Health and lifestyle affect your lifespan, so they can also affect your life insurance. Having a healthy lifestyle and giving up smoking/ drinking can reduce the cost of your policy.
Policy types with increasing cover are more expensive than a level term policy and level term cover is usually more expensive than a decreasing term.
Our mission is to help you super save, making it easy to find great deals on life insurance policies all in one place.
Compare life insurance policies from trusted providers in one place saving you the time and hassle of having to research each insurer individually
We ask the right questions so we can tailor policies to you. Compare quotes and get the cover that suits your needs.
80% of our customers have the option to buy now, without medical exams or additional documentation, for the price quoted
Our mission is to help save money on life insurance by making it easy to compare quotes from many trusted insurers and our expert information and guidance will help you choose our best policy for your needs.
Join the hundreds of satisfied customers who have given great reviews of our life insurance comparison service.
Compare providers and quotes for policies to find the best deals that match the cover you need with great value
The younger and healthier you are, the cheaper your life insurance premiums will normally be.
Reducing the term of your policy can reduce your premiums, so you may want to consider limiting cover to the period you'll have the highest dependencies or debts
Combining policies with life insurance, like critical illness cover, can work out cheaper than buying cover separately
Reviewing your cover allows you to update it to match your situation and possibly change providers for a better offer.
Policies that offer a high level of cover aren’t always necessary. You can save money on premiums by matching your cover to your needs
Tell us about yourself. Answer some questions for us about you, your medical history, and the level of protection you want, which we can match to policies
We have some of the top UK providers on our panel for you to choose from. Browse policies ordered by lowest premium.
Once you've found the policy that's right for you, all it takes is a click through to your chosen provider to buy your policy today for the price you see.
We’ve partnered with LifeSearch to give people even more guidance when buying life insurance. If you’d like some help deciding what kind of cover you need, talk to LifeSearch free of charge. Give them a call on 0800 197 3178.
Opening hours are:
Monday to Friday 8 am to 8 pm
Saturday 9 am to 2 pm
Sunday 10 am to 3:30 pm
You’ll need to provide some information about yourself and your circumstances including:
Information about your health: details about you and your family’s health and medical history, including any pre-existing medical conditions.
Information about your lifestyle: You will also need to detail your lifestyle, such as your drinking habits, and whether you smoke.
Your age and your job: The younger you are when you take out life insurance, the cheaper it tends to be. The type of work you do can also affect the price depending on how dangerous your job might be.
Your partner’s details: If you’d like joint life insurance, you will need to have information at hand about your partner’s health, lifestyle, and work.
Your provider may ask for supporting documents to prove the accuracy of the information you’ve given so it’s worth it to make sure you have these details at hand when you start an application.
You may still be able to get life insurance with a pre-existing medical condition but some conditions may be excluded from your policy, and it is likely to be more expensive with a pre-existing condition.
If you have a more complex condition and you’re finding it difficult to get a price online, a broker or adviser – such as our partner LifeSearch – can help you find a provider that will cover you.
You’ll need to share additional medical information and copies of any tests with the provider to help them understand the level of risk associated with your condition. You’ll be asked to sign a medical release form which will allow the insurer to request this information from your doctor.
Life insurance is more expensive when you have a pre-existing condition because of the level of risk to the provider. However, it’s important that you declare any pre-existing medical conditions when taking out life insurance. If you don’t, your insurer can refuse to pay out for any claims.
It isn’t a legal requirement to get life insurance for a mortgage, but most mortgage lenders will ask you to take out appropriate cover. You don’t need to take out life cover from your lender – you can buy it elsewhere.
For more information read our do I need life insurance for a mortgage guide
Some employers offer what’s known as a death-in-service benefit to their employees, which will typically pay a lump sum of four times your salary to a named dependent. This type of policy is not a legal requirement, however, and it’s best seen as a complement to a life insurance policy, rather than a substitute.
You can always cancel your life insurance policy at any time you wish, but the vast majority of policies do not give you money back if you cancel before the end of the term.
You might want to cancel a policy because you’ve found cheaper cover elsewhere, or you might simply not want to keep paying your monthly premiums.
If you are not able to work because of an illness or injury – which then means you’re unable to afford your monthly life insurance payments – a waiver of premium could mean you’ll be covered during this time.
This will need to be added to your policy as an additional level of cover and it will need to be taken out from the start of your life insurance policy.
Life insurance pay-outs are subject to inheritance tax, just like the rest of your estate. If your total estate is worth less than £325,000 (or £650,000 if you are married and leaving it all to your spouse), then your dependents won’t have to pay a penny in tax.
However, if your estate plus your life insurance policy are worth more than that in total, inheritance tax will be due on anything above that threshold at 40%. This means that if you leave a total of £400,000, the first £325,000 is tax-free. The rest - £75,000 – will be taxed at 40%, leaving £45,000.
Your family can avoid paying inheritance tax on your life insurance by writing your policy in trust.
It can be a good idea to think about updating your life insurance policy if:
Your health or lifestyle has changed
Your financial situation has changed (your salary or mortgage might have increased)
Your family has grown
Your relationship with your dependant has changed – although you will need to check your insurer can do this for you
If you are not able to update your existing policy, you may be able to find a policy with a different provider that better suits your new situation. It’s always a good idea to get a personalised quote to see if your current insurance is the best option that’s available to you.
If you’ve been diagnosed with a terminal illness and a doctor has given you a prognosis of less than 12 months to live, you may be able to make a terminal illness claim on your life insurance policy.
This means you would receive the pay-out now instead of your dependent receiving it once you’ve passed away. The lump sum from a life insurance policy can then be used to help cover the cost of not being able to work during your final months and getting your affairs in order.
Some insurers offer terminal illness cover as part of their standard life insurance policies. Other insurers may, instead, offer terminal illness cover as an optional extra cover. There will be terms and conditions with both options, so you will need to read the policy documents to make sure you’re covered.
Life insurance typically has a limited term in which your beneficiaries can make a claim. Life assurance refers to a whole-of-life insurance policy and has no end. It comes with a guaranteed pay-out, no matter what age you are when you pass away.
For more information about the differences between the two insurance types, you can read our guide to life assurance.
Both life insurance and income protection offer financial support to your loved ones, but they are very different in terms of what they cover.
Life insurance will pay out a lump sum if you pass away during the term of your policy. This will be paid to your loved ones and after a claim is made, the policy will end.
Income protection will pay out a monthly benefit worth a percentage of your income if a medical problem prevents you from working. You can claim multiple times on your policy until you are well enough to return to work. Even when you have stopped claiming, your policy will still be active, and you can claim again if you need it. You can continue making claims on your policy until you choose to end it or until you retire.
Whole-of-life insurance offers a pay-out no matter when you pass away – it will cover you for the rest of your life.
If you outlive your policy, once that policy has come to an end, you will no longer be covered under that policy. You have a choice to renew/ extend that policy (which only some providers offer), or you can buy a new policy.
Life insurance is a broad term that can refer to various types of policies and is normally available to people of different ages and health conditions. Life insurance policies can offer more flexible cover but may require applicants to provide details about their health so insurers can determine their policy premium.
Over 50s life insurance is specifically designed to cover people who are over the age of 50. It can be referred to as guaranteed life insurance or no medical life insurance because it doesn't require any medical underwriting and applicants are normally guaranteed to get a policy. Over-50s life insurance can often be more expensive with lower payouts so might not be right for everyone.
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