Smart life insurance

Smart life insurance is an offering from Smart Insurance.

Their cover starts from just £3.57 a month for their Guaranteed life insurance^ or £6.74 for their Family Life Insurance*.

Unfortunately, we can’t compare life cover from Smart Insurance for you at Reassured.

However, we can compare quotes from some of the UK's leading providers, with cover starting from as little as 20p-a-day.

By using our service to compare quotes you can find our best deal from our panel of insurers.

Are Smart Insurance the right insurer for you? Keep reading this comprehensive review to find out...

Smart life insurance policy

There are two life insurance policies offered by Smart Insurance, these are:

1) Family life insurance

Family life insurance will provide financial protection for your loved ones if the worst were to happen.

This type of cover is available to UK residents aged 18 - 64.

You can take out a sum assured of £60,000 - £750,000.

A pay out from this type of cover can help your loved ones to pay off a mortgage (or other large debts) if the worst were to happen.

At Reassured we can compare family life insurance quotes from multiple providers to ensure you secure the most affordable deal from our panel of insurer.

2) Guaranteed life insurance

Guaranteed life insurance is designed for those on a tight budget who want some form of protection in place for their loved ones.

UK residents aged 30 - 80 are guaranteed acceptance for this type of cover. 

This is because, unlike family life insurance, no health or medical questions are asked during application.

Cover starts from £3.57 a month and, as a result of these cheap premiums, you can choose a lesser sum assured from £2,000 up to £20,000.

The amount of cover you can take out will be determined by your age, for example: 

  • 30 to 54 - up to £20,000
  • 55 to 59 - up to £17,000
  • 60 to 64 - up to £13,000
  • 65 to 69 - up to £12,000
  • 70 to 74 - up to £9,000
  • 75 to 80 - up to £6,000

As long as you continue to pay your premiums, cover will last for life.

This pay out can be used to help cover funeral costs or any other costs that may occur as a result of you passing away.

When taking out a guaranteed life insurance policy it’s important to know that for the first two years of the policy your loved ones will only receive a pay out if your death is accidental.

After the first two years, there are no exclusions.

Life Insurance Calculator

Calculate how much life insurance you may need by filling in the costs you’d like your policy to cover.


£137,934 is the estimated mortgage debt per household in the UK.

The purchase of a home is likely to be the largest financial commitment any of us will make in our lifetime. Your life insurance should cover your remaining mortgage balance to allow your loved ones to stay in the family home should anything happen to you.



The average monthly household budget in the UK is £2,548 (that’s £30,576 per year), which is spent on transport, food & drink, utilities (gas, electricity, water etc), clothing, council tax and leisure activities.

With energy prices hitting a record high and the cost of living rising sharply in the UK, you may wish to factor in utility bills and family living expenses into your cover.



The average personal debt of UK adults has risen to £34,566 (not including mortgage debt), with credit cards, personal loans and overdrafts being the most common forms of debt.

Factoring in any debts into your life insurance cover means that, if they need to be paid back from your estate after your passing, your loved ones won’t miss out financially.



According to SunLife, the average cost of a funeral in the UK is £3,953 (with the overall cost of dying at £9,200).

Funeral costs have increased by 116% since 2004 and are a significant cost which should be factored into the amount of life insurance you secure.



When factoring in cover for your children, you may wish to calculate the amount based on how long it is until they reach financial independence.

This could include childcare (£7,000 per year for part-time care), school expenses (£1,519 per school year for uniforms, lunches, stationary etc), as well as an additional sum for further education (this could be a contribution of up to £5,000 per year).

Sources:, &


2 in 5 adults say they are relying on an inheritance to fund their retirement.

Factoring in an inheritance to your sum assured could allow loved ones to live a more financially comfortable life. Alternatively, you could leave a cash gift to a charity of your choosing.



If you’re lucky enough to have your own savings or are part of the 30% of UK residents who already have a life insurance policy in place, this can provide financial protection for loved ones.

By entering your current cover, savings or death in service amount you can reduce the sum assured you require.


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Joint life insurance

You can take out Smart Insurance guaranteed life insurance as a single or joint policy.

Joint life insurance covers two lives simultaneously under one policy.

As a result, you can save up to 25% compared to two single policies.

However, you’ll only be able to make one claim (usually in the event of the first death).

Once the claim has been made, the policy will expire and the surviving partner will need to obtain new cover.

At Reassured, we offer a range of policies that can be taken out on a single or joint basis.

By using an FCA regulated broker service you can quickly and easily compare both single and joint policies to ensure you’re getting the right cover.

Children’s cover

For an additional cost to your monthly premium, you can add children’s cover to your Smart Insurance life insurance policy.

This cover is designed to help cover any costs that may occur if your child was to fall seriously ill (from a specified illness) or suffer an accidental death.

Children must be under the age of 21 and financially dependent on you to receive this benefit.

You can choose a cover amount of £10,000 - £30,000.

Specified illnesses include:

  • Bacterial meningitis
  • Blindness
  • Deafness
  • Loss of hands or feet
  • Paralysis
  • Traumatic head injury

A claim on children’s cover won't affect your life insurance cover.

Smart life insurance premiums

Generally speaking, the amount you pay for your monthly life insurance premium will be agreed when you take your policy out and this is the amount you’ll continue to pay.

Smart life insurance gives you the option to choose from two different premium types.

Level premiums option:

With level premiums your premium amount will remain the same throughout the lifetime of your policy.

This means that the amount you pay each month will always be the same.

You’ll be covered for a specified period of time (similar to term life insurance) and you can choose a fixed term from 10 - 40 years.

Age-based premiums option:

With age-based premiums, your premium amount will increase each year as you age.

Along with the premium increase, there will be a 5% automatic increase to your cover amount. This will be applied on your policy anniversary each year for 10 years from the policy start date.

You’ll be sent a schedule each year which will show your new monthly premium payments.

While aged based premiums can seem like a benefit due to the increased sum assured, rising costs could start to become an issue as you age.

When you reach retirement, often your budget will become more restricted. This may not leave a lot of spare money to pay for your increased premiums.

All policy premiums from Reassured are fixed, meaning you don’t have to worry about any future increases in your payments.

Smart life insurance over 50

Smart Insurance doesn’t have a specific over 50s offering.

However, their family life insurance can be taken out up to age 64 and their guaranteed life insurance can be taken out up to the age of 80.

A traditional over 50s plan guarantees acceptance to UK residents aged 50 - 85, without the need to provide medical information.

Once in place, cover will last for life and your loved ones are guaranteed a pay out.

Why not compare over 50s plans from two of the UK's leading insurers? Simply call us today.

Smart Insurance whole of life

With a Smart life insurance policy cover can last for life.

If you choose an age-based policy, as long as you continue to pay your premiums, cover will remain in place for the rest of your life.

You’ll begin to receive free cover from Smart Insurance after the policy anniversary following your 95th birthday.

A standard whole of life policy from an alternative provider, such as those on our panel of insurers at Reassured, will continue to provide cover for the rest of your life.

However, it will also require premium payments to continue until you pass away.

As a result, it’s possible to pay more into the policy than the overall sum assured. As a result, it’s ideal for those later in life with favourable health.

With a standard whole of life insurance policy you can also receive a much greater sum assured when compared to an over 50s plan, although you’ll have to provide some medical information.

Writing your policy in trust

As with most policies at Reassured, you can write your Smart life insurance policy in trust.

Writing your life insurance in trust allows you to:

  • Have more control over what happens to your pay out
  • Avoid/minimise inheritance tax (40% IHT)
  • Avoid the probate process

It involves placing someone you trust (a trustee) in charge of your policy after you’ve passed away.

They’ll then be responsible for ensuring your pay out is distributed as per your wishes.

At Reassured, not only can our team help you through the entire process of taking out life insurance but we also have a customer service team who can help to write your policy in trust on the majority of the policies we arrange.

Smart insurance critical illness cover

Smart Insurance offers optional critical illness cover that can be added to a Smart life policy for an additional cost.

You can make a critical illness claim if you become seriously ill with a life-changing condition (such as some types of cancer, heart attack or stroke).

This pay out can help to cover living costs if you’re left unable to work, pay medical bills or make adaptations to your home.

Your critical illness cover amount can be up to 50% of your life insurance sum assured.

Your life insurance pay out won’t be affected by a critical illness claim. Therefore, if you pass away, your loved ones will still receive a pay out.

Critical illness can be added to a term life insurance policy taken out through Reassured, you can choose to have a pay out of your full sum assured or a partial amount.

Smart life insurance with free gift

Smart Insurance are currently offering a free £125 Amazon, Tesco or Argos gift card when you take out family life insurance directly through them.

You’ll receive your gift card after you’ve made 6 monthly premium payments or once the total of your premiums paid exceeds the gift card amount (£125).

Whilst life insurance with a free gift card may be a nice incentive to take out life insurance, it shouldn’t be the main reason you choose a certain provider.

It’s always best to compare your options to ensure you are receiving the best cover for you.

Smart accident insurance

While accident insurance works in a similar way to life insurance, providing a lump sum pay out to your loved ones, it’s used for different purposes.

Accident insurance will provide a lump sum pay out if you suffer an accident that causes serious injury.

If you’re left unable to work, have family living expenses to pay for or need to pay off medical bills, a personal accident pay out could cover all of this.

You can choose a sum assured from £30,000 up to £500,000 and anyone in the UK (aged 18 – 69) is guaranteed acceptance.

This type of cover can also be taken out on a joint basis.

Unfortunately, we don’t currently offer personal accidental insurance at Reassured.

How do I cancel my smart life insurance?

You can cancel your Smart life insurance policy at any point.

If you cancel within 30 days of receiving your policy documents, you’ll be refunded any premiums that you’ve paid so far.

If you cancel after 30 days you won’t get any payments back.

To cancel your smart life insurance policy you can call 0800 458 6901, weekdays from 09:00 - 17:00.

Cancelling your policy is something that should take a lot of consideration as you’ll no longer be covered once you’ve cancelled.

Smart life insurance pay out

A life insurance pay out will be made on receipt of a successful claim.

The pay out will be paid to the named beneficiary (or beneficiaries).

99.4% of all life insurance claims to Smart Insurance are paid out.

If you’re making a terminal illness claim, 100% of your sum assured will be paid out to you.

How to make a claim?

To make a claim on a life insurance policy, use one of the following 3 methods:

  • Phone - 0800 458 6901
  • Email -
  • Post - Smart Insurance, PO box 4555, Slough, SL1 0TT

A claims form will be sent to you which will need to be completed and returned.

When the claim has been accepted, Smart Insurance will pay the sum assured to the named beneficiary and any premiums paid during the date of the death and date of claim will be refunded.

Is Smart life insurance worth it?

Whether Smart life insurance is a good choice for you will depend on your own unique needs.

The above information should give you an indication as to whether you think Smart life insurance would meet all of your needs.

Here are some of the key features that Smart life insurance offers:

  • No medical test is required to obtain cover
  • Choose between age-based or level premiums
  • Guaranteed life policy ensures acceptance up to the age of 80
  • Can be covered for life with family life insurance policy
  • Free cover after the age of 95
  • 99.05% of claims paid out[1]

To find the most suitable cover it’s wise to compare offerings from different providers to ensure you know what’s out there, and that the cover you’re getting really meets your needs.

Contact Reassured for all of the information you need to make an informed decision.

Compare life insurance quotes to save money

While Smart life insurance offers affordable cover, the best way to ensure you’re getting the best deal is to compare quotes.

You can compare quotes from some of the UK's best life insurance providers by using an FCA-regulated broker service, like Reassured.

Our award-winning team compare quotes to find you the right cover at the best price from our panel of leading insurers.

Get in touch today and take the first step to protect your loved ones financial future.



Disclaimer: The information in this article is correct as of 27/04/23 but is subject to change. We will aim to keep this article as up to date as possible

^For a 30-year-old on an individual policy with £2,000 of cover

**This is based on a 32-year-old non-smoker for £100,000 of cover

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