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Compare life insurance policies from trusted providers in one place saving the time and hassle of having to research each insurer individually
FIND CHEAPER LIFE COVER AND GET REWARDED TOO
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Get an amazon.co.uk gift card worth up to £200†
Quotes from just £3.64 per month¹
Find tailored life cover at the right price by comparing deals from leading UK insurers, all in one place.
†Gift Card value varies based on the first monthly premium of the policy and will be confirmed on the results page.
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 (October 2023).
2Accurate as of November 2023
Take out life insurance online through MoneySuperMarket and receive an Amazon.co.uk Gift Card** worth up to £200.
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 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.
**Restrictions apply, see www.amazon.co.uk/gc-legal
Mortgage life insurance refers to a policy designed to provide financial protection for your mortgage in the event of your death.
It’s most commonly associated with decreasing life insurance because the payout with this policy type is designed to decrease over time along with the value of a debt such as your mortgage.
28% of all life insurance inquiries with MoneySuperMarket are for decreasing term policies however other policy types such as level term cover can also be used to protect your mortgage and can provide for other expenses as well.
*Data collected by MoneySuperMarket from 1st July – 30th Sept ‘23
The cost of your life insurance to cover your mortgage will depend on a number of factors including:
The younger you are, the cheaper your life insurance is likely to be
Certain occupations carry a higher risk which means you’ll have higher premiums
Lifestyle factors including whether you are a smoker may affect your premiums
You need to notify insurers of any health conditions you have so your premiums are accurate
Your policy term needs to reflect your mortgage term
Your property value and how much is left to pay off your mortgage will impact the cost of your policy
Compare life insurance policies from trusted providers in one place saving 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
MoneySuperMarket offers two main types of life cover that can cover your mortgage.
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 their mortgage and decrease them to match the rate at which they pay off the loan.
Usually cheaper than other policies
Can specifically only cover your mortgage
Your pay-out decreases over time
There is little to no pay-out remaining once you have paid off the debt
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.
You know how much your policy will pay out
Can cover your mortgage as well as your beneficiaries
More expensive
Doesn’t account for inflation
You can add extra cover to your policy, this can be in addition to covering your mortgage debt
Adds financial support if you are diagnosed with a critical illness during your term.
A single policy to cover two individuals. Will pay out once either after the first or second death.
Compare life insurance for existing conditions. Exclusions may apply
An alternative whole of life policy offering guaranteed cover for individuals over 50
"The amount of life insurance you’ll need depends on your circumstances and what you want to achieve. A good starting point is to think about how much cash you’d need to clear any debts that you might leave behind when you die. For most people, the biggest debt to consider is your mortgage. You should also work out how much money your dependents might need to feel financially secure if you’re no longer around to provide an income.
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Answer some brief questions about the type of cover you're looking for, personal details like age, height and occupation, whether you smoke or drink, your family's medical history, and any pre-existing conditions.
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
In most cases if you’re over 18 and a UK resident you should be eligible, but some insurers may also have an upper age limit.
Your mortgage provider may offer decreasing term life insurance as part of your mortgage deal, but you should always shop around for quotes to ensure you get cover for the best price.
It shouldn’t, but you should check the interest rate on your mortgage doesn’t become higher than the rate applied to your life insurance policy – you should remember to adjust your cover amount if you make any changes to your mortgage terms.
You can generally put your life insurance policy in trust, so your beneficiaries don’t have to pay inheritance tax on the pay-out.
Whenever you make a change to your mortgage or your personal circumstances change, it is important to review your policy to ensure it still suits your needs.
You should be able to cancel your life insurance policy, or as mentioned above remove yourself from a joint policy, but you should check if there is a cancellation fee involved. You won’t get the premiums you have already paid back.
No. If you live past the term of your insurance policy, the money is gone. You can buy what’s known as whole-of-life insurance or life assurance, which has no term and will pay out whenever you die, but it’s more expensive.
With general life insurance, your dependants can use the money for anything they like. Mortgage life insurance is used specifically to pay off the mortgage in your absence.
You can put your life insurance in trust, which is a way of legally avoiding inheritance tax on your life insurance pay out.
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.
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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.
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