Compare term life insurance

It depends on your circumstances and the type of financial burdens you want to cover. It could also depend on the type of mortgage you have. For example, decreasing term cover wouldn’t be suitable if you have an interest-only mortgage, as it wouldn’t cover the outstanding balance you need to pay back. 
 
If you don’t have a mortgage, level term cover could be used as a legacy pot for your family, or to pay off any other outstanding debts.  
 
Before you decide on which type of cover is best for you, work out what you want the pay-out to be used for.  

You need to work out what expenses your family would have if you weren’t there. Think of any savings, investments and assets you’ll leave and weigh them up against the ongoing living expenses your family might have to face.  
 
If you have a death in service benefit as part of your employment package, factor this in when deciding how much you want your term cover to be.  
 
Our life insurance calculator is a good starting point to give you an idea of how much cover you might need.  

That’ll depend on what you want the cover for. You could choose life insurance based on how long your children might need financial support if you were to die. Or you could take out cover that lasts as long as your mortgage. 

If you die within the term of a decreasing term policy, and you’ve kept up repayments, then you should get a pay-out for your dependents. 

Hopefully, when the term of your policy comes to an end, you’re still alive and well. But it does mean that if you die after the policy expires, there won’t be a pay-out. If you still want life insurance once the term has ended, you’ll need to take out a new policy. 
 
If you have level term cover, you might be able to add a renewable option when you first take out your policy. This can only be added at the very beginning of a new policy, not once it’s active. It’s an optional add-on that lets you renew your cover when the time comes, instead of arranging a new policy. There’s no need to undergo another health check either. 
 
Just bear in mind that a renewable option is only available for level term policies and not all providers offer it.  

Yes. These are known as life assurance policies, or whole of life policies. Unlike term policies, these don’t expire. They tend to be more expensive than term insurance products.  
 
Learn more about whole of life insurance. 

There are a number of factors that will affect the overall price of your policy. These include:

• Your medical history
• Your lifestyle, including whether or not you smoke
• Your job
• Your age
• The sum you want to be insured for
• The policy length

A lot depends on your personal circumstances and lifestyle. Each insurance provider has a different way of looking at these factors, so you’ll find that quotes vary. That’s why it’s a good idea to shop around and compare different quotes.  

Compare with us and we could help you find the right term cover at a price that suits you.  
 
Term life insurance doesn’t have to be expensive. On average, 50% of our customers could get a quote from £19** a month for cover up to £175K.  
 
Not sure about the type of cover you want? Give the friendly team at Lifesearch a call. They can offer expert advice and help you figure out what you need.  
 
Give them a call on 0800 072 1147 
 
**50% of customers could achieve a premium of £18.96 per month for their life insurance for a 10 year term, up to £175k worth of cover and no critical illness cover. Based on Compare the Market data from November 2020.