Securing life insurance doesn’t have to be confusing. Read…
£250,000 life insurance is a life insurance policy with a sum assured (cover amount) of £250,000.
Life insurance is a financial protection policy which provides your loved ones with a lump sum payment if you pass away while your policy is active.
During the application process, you have the freedom to choose how much this payment will be (your cover amount) - this could be £250,000 if you believe this is right for your personal circumstances.
Common questions we encounter include:
Why not compare £250,000 life insurance quotes with Reassured?
We’re an award-winning and FCA-regulated broker who are dedicated to finding you the right cover to meet your needs.
We can provide you with our best deals from some of the UK’s biggest insurers, free of charge.
Simply get in touch for your personalised, fee-free and no-obligation quotes.
Life insurance is typically used to financially protect certain aspects of your life for your loved ones should the worst happen.
For example, if you’re securing life insurance to protect your mortgage and your remaining balance is £250,000 - taking out life insurance with £250,000 sum assured could allow your family to remain in their home if you were no longer around.
Alternatively, £250,000 may be the sum of multiple financial obligations and other costs after you pass away, like the ones listed above.
Whether you need £250,000 life insurance will depend on your personal circumstances and what you’d like to cover.
To understand how much cover you might require, you can ask yourself some key questions, including:
By assessing what financial commitments and other essential costs you’d like to protect for your loved ones, you can estimate how much life insurance you need.
Depending on your financial commitments, you may need more or less than £250,000 of cover.
Speaking to an expert can help you determine what’s right for you.
At Reassured we can provide you with all the information you need to know to help you make an informed decision.
If you’re looking to secure £250,000 life insurance cover, you have the option of term-based and whole of life insurance.
At Reassured we can provide you with both term-based and whole of life quotes from some of the UK’s best life insurance providers.
We can provide you with our best quotes, allowing you to secure a great deal on a policy that meets all your needs. Simply get in touch for your fee-free quotes.
The price you pay for a £250,000 life insurance policy will vary.
This is because insurers will take into consideration your personal and policy details to assess the level of risk you pose.
Your monthly life insurance premium will then be calculated accordingly.
You’ll be required to provide the following information:
The table below shows example prices for £250,000 life insurance cover. Quotes are based on a non-smoker, in good health, for a level term life insurance policy with a 20 year term:
As your cover amount is one of the factors that influences the price you pay, by taking out £250,000 you could be paying more for your policy. For example, a policy with £100,000 life insurance is likely to be cheaper.
Therefore, it’s important to only take out what you need to avoid paying for unnecessary cover.
Why not contact Reassured to find a policy with your ideal cover amount? We can provide you with our best quotes from top UK insurers, free of charge.
Yes, if you know that £250,000 life insurance is right for you and you know which policy you need, it’s possible to secure a policy online.
Benefits of buying life insurance online:
Buying life insurance online puts you in charge of where and when you secure a policy.
You can go through the application form as quickly (or as slowly) as you need, and you can do it at a time that suits you.
If you get stuck at any point or have any questions, a friendly member of our team is just a phone call away.
Head over to our dedicated buy life insurance online guide to find out more about this option »
If you and your partner have shared assets, you may wish to secure a joint life insurance policy.
A joint life insurance policy protects two lives simultaneously under one policy.
You’ll only fill in one application form (with details about you both) and you’ll only need to pay one premium.
However, the policy will only provide one pay out (usually after the first death). After this, cover will expire, leaving the surviving partner needing to secure new policy.
The table below shows a price comparison between £250,000 joint life insurance vs two single policies.
Quotes are based on non-smokers in good health for a level term life insurance policy with a 20 year term:
|Age||One joint £250,000 life insurance policy||Two single £250,000 life insurance policies|
As you can see, securing a joint policy could help you to save money on a policy if you’re on a tight budget and want some form of cover in place.
If your budget allows, securing two single policies can allow you to provide a greater level of cover by providing two separate pay outs.
Reassured can help you conduct a full joint life insurance vs two single policies comparison to help you establish the right option for your needs.
Simply get in touch to obtain our free quotes.
Yes, it’s possible to write a £250,000 life insurance policy in trust.
Writing your life insurance policy in trust is a process which can detach the pay out from your estate.
After your passing, the funds from your policy will be passed to a nominated trustee, who will distribute the pay out as per your wishes.
Reassured offer a FREE trust service with the majority of the policies we sell.
A friendly member of our team will be happy to guide you through the process and answer any questions you might have.
You can secure a life insurance policy directly through an insurer, through a comparison site or through a broker.
Securing a policy can seem like a daunting process if you don’t know where to begin.
One of the main advantages of using a broker is that you can benefit from their wealth of industry knowledge and experience.
Reassured are the UK’s largest life insurance broker, with over 14 years of experience in helping families secure the right cover.
Reassured can help you compare £250,000 life insurance quotes from some of the UK’s best insurers.
We work with a panel of leading insurers and smaller specialists. Our main aim is to find you the right cover to meet your needs at our best available price.
A friendly member of our team will also be on hand to support you through the application, answer any questions and decode any jargon.
We’re FCA-regulated and our service is rated ‘Excellent’ by our customers on Trustpilot, with over 70,000 reviews.
Start your journey today and get in touch for your personalised, fee-free quotes.
What is the average cost of life insurance per month UK?
£38.15 is the average cost of life insurance according to our internal sales data.
We calculated this cost from 142,576 term life insurance policies sold between 08/09/21 - 08/09/22 with an average sum assured of £151,972.
While this is the average cost, the actual price you pay will be calculated using your personal circumstances.
This means your monthly premium could be much less. In fact, it’s possible to secure life cover from just £5 per month through Reassured.
What happens after a 25 year life insurance policy?
If you outlive the term of your policy, cover will simply expire and no pay out will be made.
If cover expires, you may wish to secure a new policy to reflect your new circumstances.
For example, you may have taken out a policy with a term length of 25 years to protect your mortgage. After this time has passed, your mortgage may be paid off and you may need cover to help protect other aspects of your life (such as funeral costs).
How much should life insurance pay out?
How much a life insurance policy should pay out will depend on what you want the policy to cover.
Everyone has different needs and reasons for securing cover, therefore there’s no universal answer of how much life insurance should pay out.
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Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry