Life Insurance
Compare Life Insurance Quotes
Help protect your family financially if the worst happens.
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What Is Life Insurance?
Life insurance pays a lump sum to your chosen beneficiaries if you die during the policy term. You pay a monthly or annual premium and, in return, your family gets financial protection when they need it most.
The Association of British Insurers reports that UK insurers paid out £4.85 billion in protection claims in 2023, with around 98% of all claims accepted.
Whether you need to cover your mortgage, replace lost income, or leave money for your children, the right policy depends on how much cover you need and how long you need it for.
How To Compare Life Insurance Quotes
You can compare quotes from leading UK life insurers in minutes using the free online comparison tool on this page.
Enter your details
Provide your date of birth, smoking status, health history, and the amount of cover you need. Be honest about your health, as inaccurate information can void your policy.
Choose your cover type
Select level term, decreasing term, or whole-of-life cover. You can also add critical illness cover at this stage if you want extra protection.
Compare your quotes
Results appear side by side, showing the monthly premium, cover amount, policy length, and any exclusions. Sort by price or filter by cover type.
Buy online
Once you've chosen a policy, buy directly through SimplyQuote. All providers are FCA-regulated, so your money is protected.
What Does Life Insurance Cover?
Life insurance pays out if you die from any cause during the policy term, including illness, accident, and natural causes. Some policies also pay out on diagnosis of a terminal illness.
Standard cover
All life insurance policies cover death from the most common causes: cancer, heart disease, stroke, and accidents. The payout goes to your named beneficiaries as a tax-free lump sum.
Most policies also include terminal illness cover. If your doctor confirms you have 12 months or less to live, the insurer pays out your full sum assured early.
Critical illness cover
Critical illness cover is an optional add-on that pays a lump sum if you're diagnosed with a specified condition. Common conditions include cancer, heart attack, stroke, and major organ transplant.
Adding critical illness cover increases your premium but gives you a payout while you're still alive. You can use the money for private treatment, mortgage payments, or living costs while you recover.
The policy pays out once on diagnosis, and the cover ends after that. Some policies cover over 40 conditions, while basic plans cover only the most common ones.
What is not typically covered?
Pre-existing conditions you don't disclose, death from drug or alcohol abuse, and injuries caused by dangerous activities (like base jumping or motor racing) are common exclusions.
Suicide is usually excluded within the first 12 months of the policy. After that, most insurers will pay the claim in full.
Some policies also exclude death while travelling to certain countries or during active military service. Check the exclusions list before you buy.
What Types Of Life Insurance Can You Get?
There are five main types: level term, decreasing term, whole-of-life, over-50s, and joint life insurance. Each works differently depending on what you need the payout for.
| Policy Type | How It Works | Payout | Best For |
| Level term | Fixed payout if you die within the chosen term | Fixed lump sum | Family protection, income replacement |
| Decreasing term | Payout reduces over time in line with a debt | Reducing lump sum | Repayment mortgages |
| Whole of life | Covers you for your entire life with a guaranteed payout | Fixed or investment-linked | Inheritance tax planning, funeral costs |
| Over 50s | Guaranteed acceptance, no medical questions | Fixed lump sum (£2k–£25k) | Those who can't get standard cover |
| Joint | Covers two people, pays out on the first death | Single lump sum | Couples with a shared mortgage |
Which type should you choose?
Level term suits most families because the payout stays the same throughout the policy. If your only goal is to cover a repayment mortgage, decreasing term is cheaper because the payout falls as your mortgage balance does.
Whole-of-life policies guarantee a payout whenever you die, but premiums are higher. They're mainly used for inheritance tax planning or to leave a fixed sum for funeral costs.
Over-50s plans accept everyone regardless of health, but the cover amounts are lower. Check whether you'd pay more in premiums than the policy would pay out.
Can you combine policy types?
Yes, many people hold more than one policy. A common setup is a decreasing term policy to cover the mortgage and a level term policy to provide income for the family.
Two smaller policies can sometimes be cheaper than one large one, and they give you flexibility to drop one when you no longer need it.
How Much Does Life Insurance Cost?
Level term life insurance for a 30-year-old non-smoker starts from around £5 per month for £100,000 of cover over 25 years. Premiums rise with age, smoking status, and the amount of cover you choose.
| Age | Non-smoker (£100k, 25yr level term) | Smoker (£100k, 25yr level term) |
| 30 | From £5/mo | From £9/mo |
| 35 | From £7/mo | From £13/mo |
| 40 | From £11/mo | From £20/mo |
| 45 | From £18/mo | From £33/mo |
| 50 | From £30/mo | From £55/mo |
Prices are indicative based on comparison data and will vary by provider, health history, and lifestyle. Your actual premium may be higher or lower.
Once you lock in a level term policy, your premium stays the same for the entire term. It won't rise as you get older, which is why buying earlier saves money in the long run.
What affects the price?
Age is the biggest factor. A 50-year-old pays roughly six times more than a 30-year-old for the same level of cover because the risk of death during the term is higher.
Smoking doubles the cost on average. Insurers class you as a smoker if you've used any tobacco or nicotine products (including vapes and patches) in the last 12 months.
Your health history, BMI, occupation, and hobbies also affect the price. If you work in a high-risk job or do dangerous sports, expect higher premiums.
Adding critical illness cover typically doubles the cost of a standard life policy. Joint policies cost more than single ones but less than two separate policies combined.
How does the cover amount affect the price?
Doubling your cover doesn't double your premium. Going from £100,000 to £200,000 might add only 40–60% to your monthly cost because the insurer's fixed costs stay the same.
For most families, £200,000–£500,000 of level term cover hits the right balance between protection and affordability. Use the 10x salary rule as a starting point.
How Much Life Insurance Do You Need?
A common rule of thumb is 10 times your annual salary. This gives your family enough to replace your income for a decade while they adjust.
If you earn £35,000 a year, 10 times your salary is £350,000. This would give your family £35,000 a year for 10 years to cover living costs, childcare, and household bills.
The 10x rule is a starting point, not a ceiling. MoneyHelper recommends listing all the costs your family would face without your income, including childcare, mortgage payments, and household bills.
Covering your mortgage
If you have a repayment mortgage, your life insurance should cover at least the outstanding balance. A decreasing term policy is designed for this because the payout reduces as your mortgage balance falls.
Interest-only mortgages need level term cover instead, because the balance stays the same throughout the term. Match the policy length to your mortgage term.
Covering debts and final expenses
Add up any outstanding debts (credit cards, loans, car finance) and factor in funeral costs, which average around £4,500 in the UK. Subtract any savings your family could access.
If your partner doesn't work or earns much less than you, factor in the cost of childcare and household help they'd need to pay for without your income.
If your estate is worth more than £325,000, your beneficiaries may also face an inheritance tax bill at 40% on the amount above that threshold. Placing your policy in trust can keep the payout outside your estate.
How To Save Money On Life Insurance
Comparing quotes, buying younger, and choosing the right policy type are the most effective ways to cut your premium without reducing your cover.
Compare quotes from multiple providers
Premiums for the same cover can vary by 50% or more between insurers. Comparing quotes side by side is the single fastest way to find a lower price.
Some insurers specialise in certain age groups or health profiles, so a provider that's expensive for one person may be the cheapest for another.
Buy when you're younger and healthier
Premiums are locked in at the age you buy. A 30-year-old taking out a 25-year policy pays far less per month than a 40-year-old buying the same cover for 15 years.
Choose decreasing term for your mortgage
If you only need to cover a repayment mortgage, decreasing term is cheaper than level term because the insurer's risk falls as your balance reduces.
Increase your policy term carefully
Longer terms cost more per month, but a policy that ends too early leaves a gap. Match your term to when your dependants would become financially independent.
Stop smoking
Smokers pay roughly double for life insurance. Most insurers reclassify you as a non-smoker after 12 months without any tobacco or nicotine products, which can halve your premium at renewal.
Place your policy in trust
Placing your life insurance in trust keeps the payout outside your estate for inheritance tax purposes. It also means the money reaches your beneficiaries faster because it doesn't go through probate.
When Should You Take Out Life Insurance?
The best time is when someone depends on your income or you take on a debt that would pass to your family. The younger and healthier you are when you buy, the cheaper your premiums will be.
Starting a family
Children create a long-term financial dependency. If you're expecting your first child, a policy that runs until they're financially independent (around 18–21) gives your partner a safety net.
The Child Poverty Action Group estimates the cost of raising a child to age 18 at around £260,000 for a couple. Your cover should account for this alongside your mortgage and household bills.
Buying a home
Most lenders don't require life insurance, but without it, your partner or family could lose the home if they can't keep up the mortgage payments alone.
A decreasing term policy matched to your mortgage term is the cheapest option. The payout falls in line with your mortgage balance, so you're only paying for the cover you need.
Getting married or moving in together
If your partner relies on your income to cover shared bills, rent, or mortgage payments, life insurance replaces that income if you die. Joint policies cover both partners for less than two single policies.
Changing jobs or increasing your salary
A pay rise means your family's lifestyle depends on a higher income. Review your cover whenever your earnings change to make sure the payout still matches your needs.
Approaching retirement
If you're in your 50s or 60s and still have dependants or debts, a short-term policy can bridge the gap until your pension kicks in. Whole-of-life cover may also help with inheritance tax planning.
Paying off debts or building savings
If you have credit cards, car finance, or personal loans, life insurance stops those debts passing to your family. Once the debts are cleared, you may be able to reduce your cover.
How Does A Life Insurance Claim Work?
Your beneficiaries contact the insurer, provide a death certificate and the policy number, and the insurer pays out the sum assured. Most uncontested claims are paid within 30 days.
Making a claim
The person you've named as beneficiary (or the executor of your estate) calls the insurer or submits a claim online. They'll need your death certificate, the policy documents, and proof of identity.
If the policy is held in trust, the trustees make the claim directly. This is faster because the payout doesn't go through probate.
When a claim might be rejected
Claims are rejected if the policyholder failed to disclose relevant health information, died from an excluded activity, or died by suicide within the first 12 months.
Non-disclosure is the most common reason for rejection. Even an honest mistake on your application (forgetting a minor procedure or medication) can give the insurer grounds to refuse the claim.
If a claim is rejected unfairly, your beneficiaries can complain to the insurer first, then escalate to the Financial Ombudsman Service.
How to make the process easier for your family
Keep your policy documents somewhere your family can find them. Tell your beneficiaries who your insurer is and give them the policy number.
If you place your policy in trust, appoint trustees who know where the paperwork is. This avoids delays if your family needs to search for documentation during a difficult time.
Frequently Asked Questions
No, life insurance is not compulsory in the UK. However, some mortgage lenders may require it as a condition of lending.
Life insurance payouts are usually tax-free, but if your estate exceeds the £325,000 inheritance tax threshold, your beneficiaries may face a 40% tax bill on the excess. Placing the policy in trust avoids this.
Yes, you can hold multiple policies at the same time. Some people take out separate policies for their mortgage and their family's living costs.
Most insurers give you a grace period (usually 30 days) to catch up. If you don't pay within that window, your policy lapses and you lose all cover.
Yes, you can cancel at any time, but you won't get a refund of premiums already paid and you'll lose all cover immediately. Think carefully before cancelling.
Most policies include terminal illness cover as standard. If a doctor confirms you have 12 months or less to live, the insurer pays out the full sum assured early.
Most policies exclude suicide within the first 12 months. After that initial period, the claim is usually paid in full.
Most uncontested claims are paid within 5–10 working days once the insurer has all the required paperwork. The overall process, including gathering documents, typically takes around 30 days.
If nobody relies on your income, you may not need life insurance. However, it can still cover funeral costs, outstanding debts, or leave a gift for someone you care about.
Level term pays a fixed lump sum throughout the policy, while decreasing term pays less over time to match a falling mortgage balance. Level term costs more but gives consistent protection.
Yes, but your premiums may be higher or certain conditions may be excluded. Disclose everything on your application, as failing to do so can invalidate your entire policy.
Placing your policy in trust keeps the payout outside your estate, which can avoid inheritance tax and speed up payment to your beneficiaries. Most insurers offer trust forms free of charge.
