Explore level term, decreasing term and whole of life policies from FCA-authorised UK insurers. Straightforward cover that pays out when your family needs it most.
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There are three main types of life insurance in the UK. The right one depends on what you're trying to protect.
Pays a fixed lump sum if you die within the policy term. The payout amount stays the same throughout — so a £200,000 policy pays £200,000 whether you die in year 1 or year 20. Ideal for replacing income, paying off debts or leaving a lump sum for dependants.
The payout reduces over the policy term, in line with a repayment mortgage. Because the insurer's risk decreases over time, premiums are lower than level term. The most cost-effective way to ensure your mortgage is paid off if you die.
Covers you for the rest of your life — there's no fixed term. A payout is guaranteed whenever you die. Premiums are significantly higher than term policies but the cover never expires. Often used for inheritance tax planning or to cover funeral costs.
Most life insurance policies can be enhanced with additional protection. Here's what's available.
Pays a tax-free lump sum if you're diagnosed with a serious illness such as cancer, heart attack or stroke. Can be added to a life policy or taken out separately. Covers 30–50+ conditions depending on the insurer.
Replaces a proportion of your income if you're unable to work due to illness or injury. Pays out monthly rather than as a lump sum. Separate to life insurance but often sold alongside it.
Instead of a lump sum, pays a monthly income to your family for the remainder of the policy term if you die. Can be simpler for families to manage than a large one-off payout.
Your premiums are waived if you're unable to work due to serious illness or injury, keeping your cover in place. Usually available as an add-on for a small additional monthly cost.
Writing your policy in trust means the payout goes directly to your beneficiaries, bypassing your estate and avoiding inheritance tax and probate delays. Most insurers offer this free of charge.
Covers two people under one policy — usually cheaper than two separate policies. Pays out on the first death, after which the policy ends. A second policy may be needed for ongoing cover of the surviving partner.
A quick reference guide to help you choose the right type of life insurance.
| Feature | Level Term | Decreasing Term | Whole of Life |
|---|---|---|---|
| Fixed payout amount | ✓ | ✗ Reduces over time | ✓ |
| Fixed monthly premiums | ✓ | ✓ | ✓ |
| Guaranteed payout | ✗ Only if you die in term | ✗ Only if you die in term | ✓ Always |
| Mortgage protection | Can be used | ✓ Ideal | ✗ Not designed for this |
| Cost | Medium | ✓ Lowest | Highest |
| Inheritance tax planning | ✗ | ✗ | ✓ Often used for this |
| Can be written in trust | ✓ | ✓ | ✓ |
| Critical illness add-on | ✓ | ✓ | Limited availability |
A few things worth checking before you buy, whichever UK insurer or broker you choose.
Check the limit matches what your contracts, landlord or clients require — common tiers are £1m, £2m, £5m and £10m depending on trade and risk.
Professional and liability covers are often "claims-made" — cover depends on holding a live policy when a claim is made, not just when the work happened.
Read what's excluded, not just what's covered. Sub-contractor work, specific activities, or work carried out overseas are common gaps.
Before buying, confirm any insurer or broker is authorised and regulated by the Financial Conduct Authority — check the register at register.fca.org.uk.
🤝 We're finalising partnerships with FCA-authorised UK insurers so you can explore real quotes here soon. Check back shortly, or get in touch if you'd like to be notified when quotes go live.
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