Life insurance
Life insurance is designed to help protect your family financially if you die during your policy term and pays out a lump sum cash amount to your loved ones to spend on whatever they choose to.
Protect your loved ones
Compare tailored quotes from leading UK insurers
Quotes from just £3.90[1] per month
Get Free Groceries worth up to £300[2]
Choose from Aldi, Waitrose and more
With every policy, no extra cost
It's easy to claim – no hidden steps
Restrictions and T&Cs apply, Click here for details
Find tailored life cover at the right price by comparing deals from leading UK insurers, all in one place.
Mortgage life insurance, or mortgage protection insurance, refers to a life insurance policy designed to provide financial protection for your mortgage and loved ones in the event of your death.
It’s most commonly associated with decreasing life insurance because the lump sum 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.
If you have an interest-only mortgage, the amount you owe doesn't decrease over time and your loved ones will be responsible for your mortgage payments if you pass away.
Similar to other decreasing term life insurance policies, with a mortgage life insurance policy you pay fixed premiums over a set period of time. The amount of insurance you need decreases as you pay off your mortgage.
If you die or become terminally ill during the policy term, the lump sum payment can help cover the remaining balance on your mortgage, so your loved ones can potentially keep the family home if they wish to.
While life insurance isn't mandatory when securing a mortgage, it's a worthwhile consideration for those:
With dependent loved ones relying on them
With a requirement set by the mortgage lender
Seeking peace of mind
Read our guide do need life insurance for a mortgage
MoneySuperMarket offers two main types of life cover that can cover your mortgage.
Decreasing term life insurance policies have a pay-out that decreases over time, ending when the lump sum 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 more cost-effective premiums than other policies
Aligns with specific debts such as your mortgage
A decreasing payout may leave beneficiaries without cover for other financial needs
Cover is aligned with your mortgage repayments so less flexibility for changing financial goals
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 to your loved ones
Can cover your mortgage as well as your beneficiaries
More expensive premiums, which could be a consideration for those with tighter budgets
Potential for over-insuring if financial needs decrease over time
Protects your repayment mortgage
Helps pay off one of the most significant debts you have
Cover term is typically shorter, meaning you're less likely to over-insure yourself and pay more than you need to
Decreasing term cover is often cheaper than level term
Offers peace of mind to your loved ones
If your mortgage is affected by inflation, your life insurance may not cover the full amount
You may not have the right cover if your circumstances change, e.g. you have more children or take out a bigger mortgage
If the lump sum payment goes directly to the mortgage provider, your loved ones don't have any say in how to spend the money
Life insurance premiums with MoneySuperMarket starts from £3.90[1] per month but the cost of cover for your mortgage will depend on several factors including:
Your age
Your occupation
Your general health and lifestyle
The duration of the policy term
The amount of protection needed for your property
The older you are, the more expensive your premiums are likely to be.
If you are a smoker the price of your premiums will probably be higher, due to the associated health risks.
If your job involves substantial hazards or poses a risk to your health, it's likely to increase the price of your policy.
The higher the outstanding mortgage balance, the more your policy will cost
A policy which offers a bigger final payout will generally require bigger payments from you.
Prices are also linked to the expected length of the policy, with a shorter policy usually requiring higher premiums.
Since different insurance providers offer differently-priced policies, comparing quotes is one of the most effective ways to save money and find the best deal for you.
The main difference between life insurance and mortgage life insurance is the type of protection it provides:
Life insurance is designed to help protect your family financially if you die during your policy term and pays out a lump sum cash amount to your loved ones to spend on whatever they choose to.
Mortgage life insurance is specifically put in place to help pay off an outstanding mortgage if you die within your policy term. This type of cover typically reduces over time in the same way your repayment mortgage decreases.
When selecting mortgage life insurance, it's important to consider an amount of coverage that adequately:
Safeguards your mortgage ensuring the payout is enough to cover it
Provides for your dependents if that is your intention
To help you decide the level of cover you need, try our life insurance calculator
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 need will depend on your unique circumstances. A crucial factor to consider is the outstanding debt you may leave behind, particularly your mortgage. With the average UK mortgage debt per household reaching £132,378, it's essential to ensure your loved ones are protected. Beyond mortgage coverage, think about other financial obligations like credit card debt, car loans, childcare costs, education expenses, or general living expenses.
Kara Gammell Personal Finance Expert
Keep up to date and find out all you need to know with our latest guides.
Receive a Grocery gift card when you buy life insurance
Buy life insurance through MoneySuperMarket and receive a Grocery gift card worth up to £300.
T&C’s apply. Not available to those who’ve received a voucher with a life insurance policy purchased after 1st May 2022 . One voucher per person.
Restrictions apply, see terms and conditions
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
Easily compare mortgage life insurance options to find the best value for your budget, and save on premiums.
We give you tailored life insurance quotes ensuring policies match your specific needs and preferences.
We provide independent Defaqto star ratings on policies to help you decide on the right quality product for you.
Fill in the type of cover you're looking for, your 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.
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.
You can put your life insurance in trust, which is a way of legally avoiding inheritance tax on your life insurance pay out.
Whether or not you need life insurance if you don't have a mortgage depends on your individual circumstances. Even if you don't have a mortgage, a life insurance policy may prove worthwhile for you and your dependents.
If you don't have life insurance, the mortgage debt will be passed down to your next of kin. They can decide whether to keep paying the monthly repayments or sell the house to contribute towards paying off the mortgage.
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 Score
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.
Based 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 (March 2025). Moneysupermarket data correct as of 10th March 2025.
Grocery Gift Card value varies based on the first monthly premium of the policy and will be confirmed on the results page
Join hundreds of satisfied customers who found their life insurance with us
See all reviewsThanks and best service
Daljeet Singh
Easy to sort out and everything was as needed
Craig Bairstow
Got exactly what I wanted, for the right price and with no hassle whatsoever, just answer a few simple questions and away we go
Robert198146
Pros: Super easy, much much easier than I had anticipated and insuring for large amounts was a lot cheaper than I thought also. Cons: no
sophie