Compare Life Insurance Quotes

When you compare life insurance quotes, its important to know which type of life insurance best suits your needs. For example, term insurance, mortgage protection, whole of life and joint life insurance all provide a cash sum if you were to die whilst insured but in very different ways.

The following information will help you understand what life insurance is and how it works, the types of life insurance available and most importantly how to compare life insurance quotes so you can be certain of choosing the right plan for you.

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How to choose the best life insurance

To choose the best life insurance it helps to identify why you want it. Do you want to insure your life for a certain number of years or the whole of your life? Will you always require the same amount of life cover or should it reduce over time?

You then need to think about your budget and how much cover you require, which is where our life insurance comparison table can help.

Life Insurance Comparison

Our easy to use life insurance comparison table will help you understand how quotes from leading insurance companies compare.

Company Monthly Premium  Cover Amount

 Legal & General
 
 
£17.88

 £100,000

 

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Aviva
 
 
£19.11

 £100,000
 
 

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Royal London

 
 
£21.74

 £100,000

 

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Vitality
 
 
£15.00

 £100,000
 
 

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 LV
 
 
£16.24

 £100,000

 

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Zurich

£22.00 £100,000
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 Aegon
 
 
£17.35

 £100,000

 

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AIG
 
 
£15.93

 £100,000
 
 

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Based on male non smoker aged 50 yrs of age for 20 years - no health questions answered. This is for illustration purposes only & you should obtain a personal health quotation as policies do vary. Correct as at 11/01/2018

Life Insurance Quotes – what to look for

As with any insurance product it pays to shop around and compare life insurance quotes to be certain of choosing the best life cover for you at the right price.

To compare the UKs leading life insurance providers, just click on the ‘get a quote’ button and enter a few details. It takes less that 2 minutes to compare online quotes and if you want more help, the team at Reassured are on hand to help.

What is Life Insurance?

Life insurance or life assurance as it also known pays out a cash sum if you die during the term of the policy. The type of cover you choose will dictate how long the term is, be that a specific number of years or the whole of your life.  

Protecting the family against the financial impact of losing a husband, wife, father or mother, people choose life assurance at any age for many different reasons:

  • Help cover mortgage repayments
  • Replace lost income helping maintain the same standard of living
  • Fund children’s education
  • Pay childcare fees so the surviving partner can continue to work
  • Cover outstanding loans or debts
  • Funeral expenses
  • Leave as a gift for family or friends

Your reason for choosing life cover will therefore reflect the type of life policy you choose.

compare life insurance

Types of life Cover

The main differences between the various types of life insurance available in the UK is how long your life is insured for, the amount of cover it provides and how the plan is underwritten and the application process.

Term insurance

Term life insurance provides a cash sum if you die within a specified number of years; referred to as the term of your policy. This type of life insurance appeals to those who are looking for life cover over a certain number of years, perhaps whilst children are growing up.

The way term insurance works differs depending on whether it is level term or decreasing term insurance.

Level Term insurance

Level term insurance provides the same amount of life cover throughout the insured period. For example if you choose £100,000 of life cover over a 15 year period, the amount the policy would pay out if you were to die during that 15 year period would always be £100,000.

This means that the amount you pay for term insurance will increase annually so do make sure you are happy with the increase before going ahead.

Decreasing term insurance

Decreasing term insurance provides a specified amount of life cover throughout the insured period however the size of the cash sum reduces each year. For example if you choose £100,000 of life cover over a 15 year period, each year the amount of life cover paid out would decrease.

As a result decreasing term insurance tends to be cheaper as the amount of life cover reduces over time.

Mortgage life insurance

Mortgage life insurance is essentially a decreasing insurance plan that is designed to reduce over the term in line with your decreasing mortgage.

Whole of life cover

Whole of life insurance provides cover for the whole of your life, regardless of how many years that is. The difference with this type of policy is that as long as you pay your monthly premiums when due, a cash sum is guaranteed to be paid out when you die.

As a result of this certainty, whole of life policies tend to be more expensive.

This type of life cover appeals to people who want to leave a cash sum for family and friends or as a way of reducing inheritance tax if written into trust.

Over 50s life insurance

Over 50s life cover is a whole of life insurance policy specifically designed for the over 50s, the main difference being the application process. Most life insurance plans are underwritten meaning your application will depend on your health, perhaps your family medical history and your lifestyle.

With an over 50 plan you are guaranteed to be accepted regardless of the state of your health. As a result the amount of life cover this type of plan pays out is lower compared to a regular whole of life plan.

Critical illness

Some life insurance policies will include critical illness cover which pays out a cash sum if you are diagnosed with a serious illness such as:

  • Heart attack
  • Stroke
  • Certain types of cancer
  • Multiple sclerosis

The illnesses do vary depending on the provider and you won’t be covered for any pre-existing conditions.

Joint life insurance

Joint life insurance is a life insurance policy that covers two people but only for one life, typically paying out a cash sum when the first person dies. Therefore, if you are looking to insure both of your lives, then two plans maybe more suitable than joint life insurance.

How much does life insurance cost?

The cost of life insurance will depend on the type of cover you choose but also your age and how much life cover you need. If it is an underwritten life insurance policy, it will also depend on the state of your health, family medical history and your lifestyle.

To understand more about the cost of life insurance, take a look at our comparison table above.

What is the best life insurance for me?

The best life insurance depends on why want it, your health and budget. For example, if you’re in good health and want to leave money to family, then a whole of life plan may be suitable. If your health is not great, then an over 50 plan may be better.

The information we provide should help you understand which type of plan could work for you and our comparison table will show you how much life cover you can get based on your requirements and budget.

Which are the best life insurance companies?

When choosing the best life insurance company, comparing quotes is a must however it also makes sense to look at customer reviews and establish whether the insurer has received awards for quality of service or the plans they offer. Our life insurance reviews therefore are a great place to start.

Life insurance reviews

Our life insurance reviews are independent guides on the UK’s leading providers, focusing on their company history, the policies they provide and reasons for choosing them. All of the companies we review are authorised and regulated by the Financial Conduct Authority, so you know you are protected by their safeguards.

Life insurance comparison sites

Life insurance comparison sites like ours help you compare quotes with the UKs insurance companies. Through our partnership with Reassured, a Financial Conduct Authority (FCA) registered insurance specialist, you can compare quotes with UK insurance companies and get advice for a team of experts.

Other life insurance comparison sites include comparethemarket, confused.com, moneysupermarket.com, money.co.uk to name but a few.

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Your questions answered

How long should I be covered for?

Many life insurance policies have terms of between 10 to 25 years however how long you are covered for is up to you. Perhaps you need to protect against mortgage repayments; in which case you may want the life cover in place until you have completed those repayments.

Or maybe you have a young family so want the cover to last until your children have left home. Or you may just want to leave money to family when you die or help with funeral costs, in which case a plan that lasts for the whole of your life could be beneficial.

Should I get monthly or annual life insurance?

Choosing between monthly or annual life insurance depends on your individual circumstances. If you have the funds available and the plan allows it, then annual payments can work out cheaper however a monthly life insurance plan could be a more suitable option if you prefer to spread your payments.

Do I get any money back if I don’t die during the term of the policy?

Term life insurance only pays out if you die during the term of the plan. If die after this period, you would not be insured so no money would be paid out. Whole of life insurance guarantees to pay a cash sum when you die, regardless of when that is.

Do I need life insurance to take out a mortgage?

You don’t need life insurance to take out a mortgage however it may be worth considering if you want to ensure your family could continue making mortgage repayments in the event of your death. In addition, some lenders expect you to have a policy in place when buying a house.

Can I get life insurance if I have a pre-existing medical condition?

You can get life insurance with a pre-existing medical condition, depending on the severity however your options may be more limited and you will probably pay a higher premium. Therefore, it is important to shop around and compare quotes.

Can I have multiple life insurance policies?

Yes, you can have multiple life insurance policies however there may be limitations on the total amount of life cover available to you.

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