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Life insurance is an insurance policy that provides peace of mind. Dependants will be financially provided for in the unfortunate event of the insured's death.
You fix the term for the policy, for example, 15 years, or you might have a particular date in mind for instance when the children are at an age less likely to be financially dependent upon you.
Sometimes life insurance is obligatory, as many lenders will insist on it to cover the cost of a mortgage on a property in the event of your death.
A life insurance policy works in a similar way as any other insurance policy, i.e. you take out insurance and pay monthly or annual premiums. There will be a certain amount of form filling, answering questions regarding your age, health, lifestyle choices known as risks, these risks will all factor into the monthly premiums, e.g. the higher the risk, the higher the premium.
If the insured person were to die when the policy is in force, the insurance provider will pay out the agreed fixed sum, usually in a lump sum, to the beneficiaries of the policy.
Once the life insurance policy reaches the end of the fixed term, there is an option to renew it, but it would need restarting as a new policy based on the insured's current age and health and lifestyle factors.
There are a few reasons to consider life insurance. The number one reason is financial protection for your dependents to lessen the devastating effects when the main householder's earnings suddenly cease.
Daily struggles include paying the mortgage and household bills, any debts outstanding and long-term saving towards university or retirement. Life insurance offers a practical solution and peace of mind for loved ones to enable them to continue life without financial worries or burdens.
Getting Life Insurance Shouldn’t Be Complicated. We’ve Made It Easy — Three Simple Steps.
Answer a few easy questions so we can find plans that match your lifestyle and needs.
A friendly expert connects with you to go over your best-fit options — clear, simple, and tailored to you.
Relax knowing your decision is 100% yours. Our help is free, confidential, and with no obligations.
We know life insurance can feel complicated, so we’re here to make things simple and stress-free. Here’s what you can expect:
Absolutely. One of our friendly experts will give you a call to answer your questions and help you explore the best options for your situation. They’ll take the time to understand your needs and assist what truly fits you and your family.
Of course. You’ll have 30 days after taking out your policy to cancel it — for any reason — with no penalties or hassle.
While payouts can’t be guaranteed, 96.5% of all claims were paid in 2024, with the average payout reaching £79,703*. The few claims that aren’t paid usually result from missing or incorrect details, so be sure to provide complete and accurate information when you apply.
*From £10 per month for up to £300,000
is an example based on the following pricing illustrations.
£10 per month Life Insurance quoted rates are based on level term life cover for non-smokers with no pre-existing medical conditions or other high risk factors. Individual factors and medical underwriting will be assessed which may vary the premium and sum assured you are eligible for or may result in you being declined. Correct as on 7th February 2025.
| Age & Year Born | Term of Cover | Total Sum Assured (Aviva) |
|---|---|---|
| 30 (born in 1995) | 20 years | £322,952 |
| 35 (born in 1990) | 20 years | £197,619 |
| 40 (born in 1985) | 15 years | £159,606 |
| 45 (born in 1980) | 15 years | £92,280 |
| 50 (born in 1975) | 10 years | £67,652 |
| 55 (born in 1970) | 10 years | £37,971 |
| 60 (born in 1965) | 10 years | £20,242 |
| 65 (born in 1960) | 10 years | £12,368 |
| 70 (born in 1955) | 10 years | £7,497 |
*From £5 per month for up to £100,000
is an example based on the following pricing illustrations.
£5 per month Life Insurance quoted rates are based on level term life cover for non-smokers with no pre-existing medical conditions or other high risk factors. Individual factors and medical underwriting will be assessed which may vary the premium and sum assured you are eligible for or may result in you being declined. Correct as on 7th February 2025.
| Age & Year Born | Term of Cover | Total Sum Assured (Aviva) |
|---|---|---|
| 30 (born in 1995) | 20 years | £117,810 |
| 35 (born in 1990) | 20 years | £75,745 |
| 40 (born in 1985) | 15 years | £56,577 |
| 45 (born in 1980) | 15 years | £35,960 |
| 50 (born in 1975) | 10 years | £26,787 |
| 55 (born in 1970) | 10 years | £17,018 |
| 60 (born in 1965) | 10 years | £10,115 |
| 65 (born in 1960) | 10 years | £6,181 |
| 70 (born in 1955) | 10 years | £3,746 |
*https://www.abi.org.uk/news/news-articles/2025/7/record-8bn-paid-out-in-vital-protection-claims-during-2024/