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During these uncertain times, there are things you can do to help financially protect your loved one’s future. And we’re here to help.
Think of life insurance like a safety net. It could pay out a cash sum if you were to pass away while covered by the policy or if you were diagnosed with a terminal illness provided life expectancy is less than 12 months.
Life insurance is there to ensure the life you’ve built together goes on. With the rising costs of living and less disposable income for many, life insurance could be more important than ever. From helping to keep the roof over their heads, to paying the ever-increasing bills, life insurance means you can keep providing the things that really matter even after you're gone.
You choose the amount of life insurance you need, how long you need it for and whether you want to take out life insurance in joint or single names. For more help, take a look at our life insurance calculator or speak to your financial adviser.
Here's some great reasons to take out cover with us:
This page was last reviewed by our team of financial protection experts on 30 August 2023.
|Age when cover starts||Life insurance cash sum payout|
|20 year old||£1,154,347|
|30 year old||£600,636|
|40 year old||£217,907|
|50 year old||£79,097|
|60 year old||£21,416|
|70 year old (maximum length of cover is 19 years)||£6,704|
Whether you need life insurance will depend on your individual circumstances. For example, life insurance can provide peace of mind for people with children, partners or spouses that depend on them financially, as well as people with a mortgage on the family house.
Most people who apply are able to get cover for their needs, just make sure you answer all the questions truthfully when you apply. You are eligible to apply for life insurance if you are:
Our life insurance calculator is the easiest way to estimate how much cover you may need to financially protect your loved ones.
Life insurance, sometimes known as level term life insurance, is where the amount of cover you choose and the premium you pay will stay the same throughout the duration of your policy, unless you decide to make any changes. If you pass away while covered, your family will get a cash sum to help them financially, it could be used to help pay the bills or cover child care costs, for example.
Learn more about different types of life insurance.
Decreasing life insurance is when the amount of cover you choose will decrease over time, roughly in line with the way a repayment mortgage decreases. This type of life insurance is often taken out to help protect a repayment mortgage. If you were to pass away while covered, your family would get a cash sum to help cover the mortgage, so they get to stay in their family home without the worry of mortgage payments.
Find out more about Decreasing Life Insurance.
Single life insurance covers one person, whereas joint life insurance covers two lives. The difference is that joint life insurance pays out upon the death of the first insured person, at which point the cover stops. Some couples prefer to have single life insurance policies, which ensures the surviving partner still has cover after the first death, but joint life insurance policies can be cheaper. Read more about single v joint life insurance policies to work out which is best for your needs.
We've been crowned 'Life Insurance Provider of the Year (Direct)' for the 4th time at the 2023 awards.
**Based on new individual Life Insurance sales in 2022, Term & Health Watch report 2023, Swiss Re.
5 Star Defaqto rated cover, the highest rating possible!
We understand that making a claim is going to be distressing time for your loved ones. That's why our experienced claims staff are specially trained to handle all calls with care and compassion.
Our expert claim handlers will deal with the claim as quickly as possible and will keep your loved ones informed throughout the process. They will contact them if they need any further information, such as a claim form or death certificate.
If the claim is accepted, we'll pay out within 5 working days directly to the personal representative of the deceased person, usually the executor of the will.