Skip to content

life insurance

SUPER SAVE WITH

LIFE COVER Quotes FROM £4.411

Image of an umbrella with MoneySuper 7 brand logo on it

Compare life insurance quotes from 12 leading providers

We’re dedicated to helping you get the right policy, to give you and your family the peace of mind you deserve. That’s why we work with 12 leading life insurance providers, including:

company logo for lv-v1company logo for hsbc-110company logo for Post-Office-110company logo for aig-newcompany logo for virgin-money-newcompany logo for royal-london-110-69company logo for churchill-110-2

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 (August 2022).

Gift Card value varies based on the first monthly premium of policy and will be confirmed on the results page.

Receive a gift card when you buy life insurance

Take out life insurance online through MoneySuperMarket and receive an Amazon.co.uk Gift Card** worth up to £200.

Gift card is redeemable within 40 days of 6th life insurance payment. Gift Card value varies based on the first monthly premium of policy and will be confirmed on the results page. Terms and conditions apply. Not available to those who’ve received a voucher with a life insurance purchased after 28th of February 2021. One voucher per person, offer ends 5th December 2022.

**Restrictions apply, see www.amazon.co.uk/gc-legal

Image of Amazon gift card above a table which shows the card amount you will recive according to the policy amount

What is life insurance?

Life insurance is designed to protect your loved ones if you pass away. The pay-out from a life insurance can help your family pay off a loan or debt, cover the cost of a funeral, or simply help them support themselves and cover their living costs when you’re gone.

Life insurance works by paying out a lump sum to your loved ones if the policyholder passes away during the policy’s term. This protection will stay in place until an agreed end date as long as you keep up with your monthly payments.

According to the association of British insurers (ABI), 98% of life insurance claims were paid out in 2021, which equates to £18.6 million paid out every single day2.

2Source: Group Risk Development (GRiD) 2021 full claims statistics - 21.05.2022

What’s covered by life insurance?

Life insurance cover is generally straightforward and will cover the policy holder if you die during the policy's term. However, like any insurance, there can be some fine print, and there may be some instances when your loved ones will not be entitled to a claim. Here is a closer look at what a standard life insurance policy will or won't cover:

  • Tick

    What is covered

    • Death from natural causes, such as age or illness (also including pandemic illness)

    • Accidental death (unless taking part in an excluded high-risk activity)

    • Suicide (although most policies won’t cover suicide at the start of the policy)

    • Homicide (providing the beneficiary was not involved)

  • Cross

    What is not covered

    • Pre-agreed excluded conditions (usually related to pre-existing health problems)

    • High-risk activities (if you have risky hobbies, your provider may exclude them)

    • Death during criminal activity (such as driving under the influence)

    • Fraud (if you lie to your provider in your application, they will not pay out)

Neal Cross

Our expert says

"

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.

"

- Neal Cross, Life Insurance Expert

Why compare life insurance with MoneySuperMarket?

Our mission is to help you super save, making it easy to find great life insurance deals all in one place.

  • Get covered immediately

    80% of our customers have the option to ‘buy now’, without medical exams or additional documentation, for the price quoted

  • Deals tailored to you

    We ask all the right questions to match policies to your exact needs, and our large provider panel to choose from means you have a great chance of finding cover that’s right for you

  • Super Save with us

    Over the last 3 years, MoneySuperMarket have helped over 125,000 customers find great deals3 on their life insurance. Why not get quotes from us and see how much you could save?

Types of life insurance

MoneySuperMarket offers two main types of cover with features to suit differing needs and budget

Level term

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.

Level term life insurance chart

Pros

  • Your premiums stay the same

  • You know how much your policy will pay out

Cons

  • More expensive

  • Doesn’t account for inflation

Decreasing term

Decreasing term policies have a pay-out that decreases over time, ending when the pay-out reaches zero. These polices are usually used to cover a loan and decrease to match the rate your loan is paid off.

A Chart depicting decreasing term insurance with a line showing premiums declining with length of policy

Pros

  • Usually cheaper than other policies

  • Suitable protection for a mortgage or debt

Cons

  • Your pay-out decreases over time

  • Little to no pay-out left once debt has been paid off

Other types of life insurance

While level and decreasing term are the most popular types of life insurance, there are other policy types out there if you’re looking for something different.

  • Joint life insurance

    Joint life insurance allows you to insure more than one person on the same policy. You and your partner receive the same cover and have the choice of pay-outs occurring after the first or second death

  • Over 50s life insurance

    Over 50s life insurance policies are more expensive than standard life insurance but usually don’t have a term limit and often won’t ask any medical questions when you apply

  • Critical illness cover

    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 can be worth it for the added protection

  • Increasing life insurance

    Increasing life insurance has an increasing pay-out that can help you preserve the value of your policy. However, premiums also increase and start out being more expensive than standard life insurance. 

    We are unable to offer quotes for increasing life insurance



  • Whole of life insurance

    Whole of life insurance is a type of policy that doesn’t have a time limit and offer a choice of level or increasing cover. This type of life insurance is usually the most expensive because it guarantees a pay-out.

    We are unable to offer quotes for whole of life insurance 



We're 100% independent, working only for our customers

Unlike some of our competitors, MoneySuperMarket is not owned by an insurance company. So we can offer the best value, with savings delivered straight to you.

By combining independence with our excellent technology, we can negotiate the best prices and the best value on products and services.
4.7/5

of our customers would buy again based on 354 reviews

How much does life insurance cost?

Life insurance monthly premiums can start from as little as £4.411 a month when buying through MoneySuperMarket. However, life insurance is priced differently for everyone based on your personal details and the options you choose for your policy.

  • Tick

    The amount of cover

    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.

  • Tick

    Your age

    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.

  • Tick

    Your health and lifestyle

    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.

  • Tick

    The policy type

    Policy types with increasing cover are more expensive than level term and level term is usually more expensive decreasing. Save money by picking the policy type that’s right for you.

How much cover do I need?

When it comes to choosing the right level of cover, it’s better to take your time to think about why you’re buying life insurance and what you need your pay-out to cover. That’s when our handy life insurance calculator comes in!

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 right amount of life insurance cover.

Graphic of a calculator

How to get cheaper life insurance?

  • 1

    Shop around

    Compare providers and quotes for policies to find the best deals that match the cover you need with great value

  • 2

    Buy whilst young

    The younger and healthier you are, the cheaper your life insurance will be, so apply earlier in life for a lower premium price

  • 3

    Consider a term life policy

    Putting a limit on the lifespan of your policy can reduce your premiums, so it can be smart to get cover for a time when you need it most

  • 4

    Combine policies

    Combining policies with life insurance, like critical illness cover, can work out cheaper than buying cover separately

  • 5

    Review your cover

    Reviewing your cover gives you a chance to update your cover to match your circumstances and maybe switch providers for a better deal

  • 6

    The right policy type

    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

How to compare Life insurance with MoneySuperMarket

  • 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’ll fetch our best quotes

    We have some of the top UK providers on our panel for you to choose from. Browse deals ordered by lowest premium.

  • Choose the deal you want

    Once you’ve found the policy that’s right for you, all it takes is a click for you to buy your policy today for the price you see.

Need to speak to someone about life insurance?

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 8am to 8pm

  • Saturday 9am to 2pm

  • Sunday 10am to 3:30pm

Lifesearch logo - phone on 0800 197 3178

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 cover, 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.

Life insurance typically has a limited term in which your beneficiaries can make a claim. Life assurance, on the other hand, 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 life assurance guide.

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

You can take out critical illness cover as well as life insurance, and this will pay out if you’re diagnosed with a named medical condition during the term of your policy. It generally comes as either:

  • Additional cover: If you take out life insurance with separate critical illness cover, you’ll receive a pay out a) if you get a critical illness b) if you pass away (both during the term of your policy)

  • Combined cover: If you take out a combined policy, you’ll only receive one pay out, either if you become critically ill or if you pass away (during the term of your policy)

MoneySuperMarket offers the option to take out additional cover once you have completed a life insurance quote, with the premium calculated using the information you gave when applying for life cover. We believe this provides a more flexible and comprehensive solution than a combined policy.

Term life insurance is a policy that offers cover for a set period of time – when the term ends the policy lapses, and if you survive the term then it won’t offer a pay out.

Whole-of-life insurance offers a pay out no matter when you pass away – it will cover you for the rest of your life.

Putting your life insurance in trust lets you name the people you want to receive your pay-out (your trustees).

There are different types of trusts available depending on your individual or family circumstances. Putting your life insurance policy into trust also protects the pay-out from inheritance tax.

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’re currently shopping for a life insurance policy, you can cut costs by choosing a cheaper policy type, like term insurance. You can also set a shorter term and a lower level of cover to save some money on premiums, although it would be worthwhile to check with your provider whether you can change your cover and term if you change your mind later.  

To save some money on an existing life insurance, it may be a good idea to talk to your provider about reducing your cover. Reduced cover will make your premiums cheaper, making them more affordable. Some providers are also willing to offer payment holidays in the midst of the cost of living crisis, which will give you a temporary break from your premiums without cancelling your policy. 

If you have a pre-existing medical condition, you may still be able to get life insurance. However, some options may not be available to you, or may be more expensive.

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 most likely 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.

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.

If you’ve been diagnosed with a terminal illness and a doctor has given you a prognosis of less that 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.

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.

You are legally allowed to take out more than one life insurance policy at a time. For instance, if you have a repayment mortgage you may have to take out a separate life insurance for your mortgage to make sure your dependents can continue to afford payments.

Life insurance pay-outs are subject to inheritance tax, just like the rest of your estate. If yor 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 tat if you leave a total of £400,000, the first £325,000 is tax free. The rest - £75,00 – will be taxed at 40%, leaving £45,000.

Your family can avoid paying inheritance tax on your life insure by writing your policy in trust.

In short – it depends. Everyone’s individual needs are different and depend on factors like your health and lifestyle. So, the ‘best’ life insurance provider is the one that has the policy that suits you, which won’t be the same for everyone.

When choosing which provider to go with, it comes down to more than just price. As well as comparing cost, it’s important to consider the number of exclusions, benefits, and how much flexibility a policy has, as well as what percentage of claims the insurer pays out.

To qualify for a joint life insurance policy, you and your partner will need to be UK residents over 18 years of age. You might also need to provide some basic medical and personal information, although passing these medical checks is usually easier for joint policies than single policies.  

As standard, joint life insurance policies will only pay out once. This applies also if you have joint critical illness cover. However, you can choose whether you want to claim after the first death or the second death.  

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. You can find out more by reading our income protection guide



You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.

  • Whip your credit score into shape with Credit Monitor

  • Super save over and over again with Energy Monitor

  • There are always more ways to save with MoneySuperMarket 

So how do we make our money? In a nutshell, when you use us to buy something, we get a reward from the company you’re buying from.

You might be wondering if we work with all the companies in the market, or if our commercial relationships with our partners might make us feature one company above another. We’ve got nothing to hide, and we want to give you clear answers when it comes to questions like these, so we’ve pulled together everything you need to know on this page.