Decreasing term
The payout shrinks over time, and so does the price.
Suits: A repayment mortgage
The same amount, start to finish
Level term life insurance
Choose an amount and a number of years. If you die in that time, your family gets the whole amount, whether it’s year one or year twenty.
A few minutes online. No sales calls, and no fee from us.
Other kinds of life insurance.
Level term is the most straightforward. If it doesn’t quite fit, one of these might.
Who can apply? Most insurers cover people from 18 who live in the UK. How old you can be at the start, and at the end of the term, depends on the insurer. Not sure? Ask us.
Joint life
One policy for two people, paying out once.
Suits: Couples sharing a mortgage or bills
Family income benefit
A monthly income until the end of the term, not a lump sum.
Suits: Young families on a budget
Whole of life
Cover for the rest of your life, so it always pays out.
Suits: Leaving an inheritance, or paying Inheritance Tax
Over 50s
A fixed payout, guaranteed acceptance and no health questions.
Suits: Funeral costs, from 50 to 80
Life insurance for smokers
The same cover, priced for nicotine. Honesty keeps it paying.
Suits: Smokers, vapers and nicotine users
Why choose level term?
You know the number. The payout is fixed on day one, so you can plan around it.
It fits a debt that doesn’t shrink. Such as an interest-only mortgage, where the full loan is still owed at the end.
Room for the family. Enough to clear the bills and keep things going while the children grow up.
We compare it for you. Quotes from a panel of UK insurers, side by side, with no fee from us.
Cover from names you know.
Compare a panel of recognised UK insurers through one clear, straightforward application.
What’s covered, and what isn’t.
The short version. Your policy documents have every detail, and we’ll go through them with you.
Usually covered
- Death from illness or an accident during the term
- A terminal illness, if you’re expected to live less than 12 months
- Anywhere in the world, on most policies
Usually not covered
- Death after the policy ends
- Suicide in the first 12 months
- Anything you didn’t tell the insurer when you applied
- Dangerous activities the policy excludes
A level payout doesn’t grow with prices, so it buys less in twenty years than it does today. Some policies can rise each year instead, for a higher premium.
How it works.
Three steps, online, with a person on the phone if you want one.
Step 1Pick the amount and the term.
Enough to cover the mortgage, the debts and the years your family would need help.
- Step 2
Compare your quotes.
See the prices from a panel of UK insurers side by side, and choose the one that fits.
Step 3Apply, and you’re covered.
The insurer checks your answers, sometimes with your doctor. Cover starts the day they accept you.
Level term questions.
Short answers to what people ask most, before they buy.
Is level term more expensive than decreasing term?
For the same starting amount, yes, because the payout stays high for the whole term. If you only need to cover a repayment mortgage, decreasing term is usually cheaper.
Does the premium go up?
Most level term policies have guaranteed premiums, so you pay the same each month for the whole term. Some have reviewable premiums, which can change: check which you’re buying.
How long should the term be?
Long enough to cover what you’re protecting: until the mortgage is paid, or until your youngest child is likely to be independent.
What happens at the end of the term?
The cover stops and nothing is paid back. That’s the deal that keeps term cover affordable.
What about inflation?
A level payout is worth less over time as prices rise. Increasing or index-linked cover grows each year to help keep up, and usually costs more.
Should I put it in trust?
Usually, yes. A trust can mean the money reaches the right people sooner, without waiting for probate, and can keep it out of your estate for Inheritance Tax.
Already have a policy?
Claims and changes are handled by your insurer: their number is on your policy documents. If you arranged it through us, call us on 01302 590 852 and we’ll help you find the policy and the right people.
For a claim, it helps to have:
- The policy number
- A death certificate, or the doctor’s report for a terminal illness
- The details of the executor or the trustees
- Bank details for the payment
Claim through the insurer
Their claims number and online form are in the policy documents. Most claims start with one call, and they’ll guide you from there.
Ask us to help
Can’t find the policy, or the insurer? Call us on 01302 590 852 and we’ll find it with you.
Useful information
Changing your mind
You have 30 days after your policy starts to cancel for a full refund of anything you’ve paid.
If an insurer fails
Life insurance is protected by the Financial Services Compensation Scheme (FSCS), which covers 100% of a claim if an insurer can’t pay. See fscs.org.uk.
Before you buy
The insurer gives you a Key Facts document and a policy summary. Read them: they’re the promise in full. Stuck on a word? Try our glossary.
Still need support?
Not sure how much cover, or for how long? Ask a real person, with no sales pitch and no fee from us.
Monday–Thursday 9am–7pm, Friday 9am–3pm
