If you’re a teacher, you might think that getting life insurance will be more complicated. Perhaps you believe the nature of your work or your specific responsibilities mean you need specialist cover, and you’re worried this will be expensive?
The fact is that most teachers can access low-cost life insurance. Most insurers won’t treat you any differently to people in other occupations. This means you can sleep easy knowing you won’t pay the earth for the protection you need.
Life insurance for teachers can cost as little as £6 per month. So, for the price of a Netflix subscription, you can ensure your loved ones will receive financial support if anything happens to you.
You should think about getting teachers life insurance if:
We work closely with the UK’s leading insurers to help you get the right teachers life insurance at the right price.
If you’re a member of the Teacher’s Pension Scheme, and you die while employed as a teacher, your beneficiaries will receive a lump sum payment. This is called “Death in Service” benefit.
At present, if you die while you're an active member of the scheme your beneficiaries will receive a payment of:
If you’re a part-time worker, the full-time equivalent will be used, not your part-time earnings.
As above, teachers do receive some life insurance if you’re part of the Teacher’s Pension scheme.
In that sense the cover isn’t “free” – it’s based on you making pension contributions – but you don’t pay any additional amount for this “Death in Service” benefit.
What kind of insurance do teachers get?
While a member of the Teacher’s Pension Scheme, your beneficiaries will receive a lump sum equivalent to three times your income if you die.
This can be a valuable benefit and will ensure your loved ones receive financial support when they need it. However, it’s unlikely your family will be able to rely just on your Death in Service benefit for the following reasons:
While the life insurance you may receive as a teacher is useful, you’ll often find that you do need to put your own, independent cover in place. This way you can ensure that you protect your loved ones if the worst happens.
If you’re married or in a civil partnership your spouse or partner will automatically receive a pension after you die. If you’re neither married nor in a civil partnership but have a partner, as long as they meet certain qualifying criteria, they will also receive a pension after you die.
For your partner to qualify for a pension you must have two years or more pensionable service from 1 January 2007.
In addition, any children born during your lifetime or within 12 months of your death, may be eligible for a child’s pension.
No. Many teachers assume that they need specialist cover that takes their occupation into account, but this is normally not the case.
Most teachers can take out life insurance on standard terms. Indeed, we work with many teachers and will scour the market on your behalf to find the protection you need at a great price.
If you have HIV, you may assume that it’s simply not possible to take out life insurance. However, in certain cases it is possible to get cover, find out how.Find out more
Finding the right life insurance with chronic obstructive pulmonary disease (COPD) can feel difficult - I’m Insured have experience in finding the best coverFind out more
It does not have to be stressful to find life insurance with a respiratory condition. We help in finding the right cover for asthma, sarcoidosis and COPD.Find out more
Finding suitable life insurance with an autoimmune disease or inflammatory condition can be stressful. Our expert team is here to help - get a quote now!Find out more
Our consultants are experienced in a range of circulatory conditions including but not limited to Diabetes, High Blood Pressure and Raised CholesterolFind out more
Finding life insurance with a mental health condition can be daunting. I'm Insured provide specialist support throughout the process - get a free quote!Find out more
Concerned about the COVID-19 outbreak and whether you're protected in the worst-case scenario? Read our complete guide to coronavirus & life insurance.Find out more
Cancer life insurance is available from some insurance providers, who you can get quotes from through I'm Insured.Find out more
Finding suitable life insurance with bipolar disorder can be a daunting task. Our life insurance specialists offer support help you find life cover.Find out more
Finding life insurance with any form of anxiety can be difficult. Our expert team can help find you suitable cover.Find out more
Finding life insurance with depression can feel uncomfortable, using an independent broker like I'm Insured gives you full control. Get a free quote today!Find out more