Life Insurance

Life Insurance

Life insurance financially protects you and your loved ones when you’re no longer able to. Our quick and simple online tool lets you compare life insurance quotes from the UK’s leading providers to find the best policy and price to match your needs.

Start your online quote Talk to us

We’ll find the best life insurance quote for your peace of mind and financial protection for your loved ones.

Why choose I'm Insured?

Save Time

Our quick and simple online tool generates instant quotes from a wide range of leading life insurance providers.

Save Money

Using the details you provide, we generate competitive quotes to help you find the most cost-effective policy.

4.9/5 Rating

We provide quality service and outstanding customer satisfaction, and our Fefo rating reflects that.

Free Health Check

We offer a free personalised health check from Thriva for everyone named on your new insurance policy.

What is Life Insurance?

Life insurance is designed to protect your loved ones financially in the event of your death. The payment your family receive can help to cover mortgage payments, funeral costs and other essential expenses after you’re gone.

The money that is paid out to your family is dependent on a range of factors including the type and level of life insurance cover you take out. There are many UK poviders offering varying life insurance - this includes diffferent costs, length of policy and terms included.

Find out more about how life insurance works below, or start your free online quote to compare different levels of cover from over 200 of the UK’s leading insurance providers. 

How does life insurance work?

Get Your Quote

Provide all of the required personal information such as age, occupation and current health conditions in order to generate a policy quote based on your current circumstances.

Choose Your Policy

Based on your current circumstances and what you need to be covered for, you can customise your policy and add any extras or additional coverage you may need.

Pay Your Premiums

Once you have chosen your provider and taken out your life insurance policy, you’ll start making the agreed monthly payments that are stated in your policy agreement.

Make a Claim

In the event of your death (or pre- agreed diagnosis of terminal illness), yourself or your loved ones are then able to make a claim on your policy. A lump sum will be paid to the chosen recipient.

What insurance terms are available?

Level Term

A policy with fixed monthly premiums and a lump sum payout that remains the same regardless of when a claim is made.

  • You pay a fixed monthly premium that stays the same throughout the policy term
  • In the event of your death, your loved ones can make a claim against the policy
  • A cash lump sum will be paid out in the event of a successful claim

Decreasing Term

This type of policy is often used to cover loan repayments. The payout total reduces over time in line with the balance left on your mortgage or loan agreement.

  • You pay a fixed monthly premium that stays the same throughout the policy (it is often lower than Level Cover)
  • The lump sum payout amount gradually decreases throughout the policy term
  • A cash lump sum will be paid out in the event of a successful claim

What does life insurance cover?

The specifics of what is covered depends on the insurance provider chosen, so it’s vital that you read your policy documentation clearly when comparing quotes.

Here are some examples of things that are commonly covered by standard life insurance policies:

Usually covered

  • Most common causes of death
  • Cancer and other diseases
  • Unexpected illness
  • Heart attacks
  • Accidental death

Usually not covered

  • Drug or substance abuse
  • Life-threatening activities
  • Critial illness or injury
  • Pre-agreed health issues
  • Non-declared conditions

What affects the cost of life insurance?

Life insurance premiums are dependent on a variety of factors and providers will require certain information to guage your circumstances. Here are some of the things that are taken into account when applying for insurance policies:

  • Age
  • Lifestyle
  • Health
  • Medical History
  • Occupation
  • Smoker Status
  • Cover Length
  • Amount of Cover

To find out how much life insurance could cost you, start your free online quote - I'm Insured will compare insurance providers across the market to find you the most suitable cover at the best price.

A selection of over 200 of the UK's Leading Insurance Providers

Frequently Asked Questions

How is life insurance paid out?
Lump sum payouts are usually the most common, however, there are other options in how loved ones can receive a life insurance payout. Instalments can be made monthly, quarterly, annually or every five years.
Who is life insurance paid to?
As with most elements of life insurance, who the payout is given to is usually dependent on the terms and conditions of your policy. However, you will typically be able to choose who the money goes to when you pass away by selecting a beneficiary.
When should I take out life insurance?
There is no specific age you should take out an insurance policy as everyone’s circumstances will be different. However, if you have family members or loved ones that are dependent on your income, it’s better to consider taking out a policy as soon as possible to make sure they are protected.
Can I be insured with a pre-existing medical condition?
In most cases, you will still be able to take out a life insurance policy with a pre-existing medical condition. However, depending on the condition, you will likely have to pay higher premiums. It’s important to make your insurance provider aware of any medical conditions you have or you won’t be covered for them when it comes time to make a claim.
Can I review my policy if I quit smoking?
Smokers will almost always pay higher premiums, usually even those that have quit within the last 12 months. However, if you have stopped smoking for longer than a year, you can speak to your insurance provider and they may consider reducing your payments.
Can I claim if I am terminally ill?
Each policy will have different rules around terminal illness but generally there are many providers that will pay out before your death if you are diagnosed with a terminal illness and not expected to live longer than one year.
How much life insurance do I need?
Deciding on the amount of cover you need can be difficult but the main things to consider are the costs that will be left behind after you are gone. If your income pays towards things like mortgages, you’ll need to compensate for that to help your loved ones. Use our free online life insurance calculator to work out how much cover you’ll need to apply for.
Is my life insurance payout taxable?
When a successful claim is made on your policy, the payout made to your chosen recipients may be taxed depending on the amount. The payment won’t usually be subject to income tax but as it technically forms part of your estate, it will most likely be liable to inheritance tax.

Other Life Insurance Resources

Critical Illness Cover

Critical illness is a form of life insurance that protects you and your family if you become seriously ill. Find a quote today!

Find out more
Mortgage Protection Insurance

Mortgage protection, also known as decreasing term assurance, is a vital type of insurance if you're a home owner. Start your free online quote now.

Find out more
Channel Islands

If you live on the Channel Islands, Isle of Man, or the Scily Isles we can help you find the most suitable and competitive life insurance.

Find out more
Expats Living Abroad

If you live abroad but have financial liability in the UK, there are life insurance options available. Find a policy to suit you.

Find out more
Family Income Benefit

This lesser-known life insurance will provide regular income for your family if you pass away. Find the best cover here.

Find out more
Over 50's

We compare the market to find the best over 50 life insurance policies for you. Find affordable cover, get a quote today.

Find out more
Over 60's

If you’re over 60 yrs old and looking at a life insurance policy it can be a bit of a minefield. Do you go for Level Term, Over 50’s or a Whole of Life policy?

Find out more
New Parents

Protect your new addition to the family. Compare providers and find the best life insurance for new parents today!

Find out more
Calculator

Do you know how much life insurance cover you may need? Our online calculator makes it simple to find out, try it here!

Find out more
Life Insurance Companies

Information about various life insurance providers. We provide quotes from the whole of market, meaning that we compare all of the UK's leading providers

Find out more
Free Health Check

For a limited time we're excited to announce that every new life insurance policy arrange will come with a free, at home, personalised blood test and health check

Find out more
Gibraltar

If you are a living in Gibraltar, you may not be aware that you have the option of life insurance, critical illness cover and income protection policies from UK insurers at exactly the same prices as if you lived on the UK mainland

Find out more

Life Insurance News

Why Choose Us?

We can also help with putting your policy into trust.

That means you can nominate somebody to look after the money if you die and there’s a payout before you want the intended recipient to get the money. A common example is parents who want to have the payout go to a child only once the child turns 18 or 21. Putting a policy into trust also ensures that the payout goes to your intended recipient and can’t be seized by creditors if you have any debts when you die. There may also be tax benefits to putting a policy into trust.

Start saving today
Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×