Income protection vs life insurance
You don’t always have to choose between life insurance vs…
8 min
Just as if you were shopping for any other form of insurance, comparing multiple life insurance quotes is essential in finding the best deal.
From comparing different policy types to comparing insurers and premium prices, every little helps when looking for the right policy to meet your needs (at a price that’s within your budget).
Reassured can help you conduct a free life insurance comparison from our panel of top UK insurers, including:
This article also includes information about insurers that we don’t work with, such as Royal London, British Seniors and Co-op. The information has been taken from each insurers website and is correct as of 09/04/26.
We can save you time and money by comparing quotes and presenting you with our best available deals.
Quotes are fee-free, without obligation and start from just £5 per month † , so why not get in touch?
A life insurance price comparison can help you to find your cheapest quotes.
However, it’s important to be aware that the quotes you receive will be based on your personal circumstances.
This is because, as part of the standard application process, you’ll be required to provide key information about yourself and your chosen policy. This includes:
The exception to this an over 50s plan where no medical information is required. Instead, the price you pay will be based on your age, level of cover and (sometimes) your smoking status.
Below is a life insurance rates comparison for each policy type:
Level term life insurance
The pricing table below is based on a non-smoker, in good health, for a level term life insurance policy with a 20 year term and £150,000 of cover:
| Age |
|
|
|
|---|---|---|---|
| 20 | £4.26 | £5.53 | £5.63 |
| 25 | £5.14 | £5.97 | £6.65 |
| 30 | £6.41 | £7.57 | £7.71 |
| 35 | £9.20 | £10.53 | £9.60 |
| 40 | £12.74 | £14.58 | £13.21 |
| 45 | £19.03 | £21.89 | £19.64 |
| 50 | £32.01 | £34.49 | £30.44 |
Decreasing term life insurance
The pricing table below is based on a non-smoker, in good health, for a decreasing term life insurance policy with a 20 year term and £150,000 of cover:
| Age |
|
|
|
|---|---|---|---|
| 20 | £3.90 | £5.55 | £5.00 |
| 25 | £4.38 | £5.88 | £5.00 |
| 30 | £5.09 | £6.37 | £5.80 |
| 35 | £5.98 | £7.60 | £7.36 |
| 40 | £7.90 | £10.11 | £9.51 |
| 45 | £11.34 | £14.49 | £13.18 |
| 50 | £18.39 | £22.66 | £19.27 |
Whole of life insurance
The pricing table below is based on a non-smoker, in good health, for a whole of life insurance policy with £50,000 of cover:
| Age |
|
|
|
|---|---|---|---|
| 20 | £8.24 | £23.85 | £26.30 |
| 25 | £9.10 | £27.13 | £26.30 |
| 30 | £9.48 | £31.38 | £28.10 |
| 35 | £12.76 | £36.40 | £39.65 |
| 40 | £15.11 | £43.27 | £44.70 |
| 45 | £18.18 | £50.64 | £53.20 |
| 50 | £21.49 | £56.92 | £63.10 |
Over 50 life insurance
The pricing table below is based on a non-smoker, in good health, for an over 50s plan with £5,000 of cover:
Age |
|
|
|---|---|---|
50 | £11.00 | £12.72 |
55 | £13.00 | £14.47 |
60 | £15.00 | £15.91 |
65 | £18.00 | £19.21 |
70 | £25.00 | £25.17 |
75 | £36.00 | £35.26 |
80 | £56.00 | £48.36 |
85 | N/A | £72.10 |
Life insurance with critical illness cover
The pricing table below is based on a non-smoker, in good health, for a life insurance with critical illness cover policy, with a 20 year term, and £50,000 of cover:
| Age |
|
|
|
|---|---|---|---|
| 20 | £9.54 | £10.41 | £11.88 |
| 25 | £12.23 | £12.81 | £14.76 |
| 30 | £15.64 | £16.15 | £18.76 |
| 35 | £20.98 | £21.30 | £24.67 |
| 40 | £29.32 | £28.88 | £33.11 |
| 45 | £41.84 | £40.45 | £47.76 |
| 50 | £61.20 | £60.40 | £68.86 |
Joint life insurance
The pricing table below is based on non-smokers, in good health, for a joint level term life insurance policy with a term of 20 years and £150,000 of cover:
Age |
|
|
|
|---|---|---|---|
20 | £7.20 | £8.22 | £10.64 |
25 | £9.32 | £9.68 | £12.68 |
30 | £12.06 | £13.39 | £14.76 |
35 | £16.18 | £18.52 | £18.60 |
40 | £23.28 | £27.11 | £25.66 |
45 | £35.40 | £40.99 | £38.38 |
50 | £60.62 | £65.39 | £59.76 |
At Reassured we can help you find a great deal on a policy that meets your needs. Our award-winning broker service is fee-free to use, so why not get in touch?
If you’ve just started on your journey of securing life cover, you may wonder what policy options are available and how they differ.
The most popular forms of life insurance include:
Below is a comparison table comparing each policy type:
| Level term life insurance | Decreasing term life insurance | Whole of life insurance | Over 50s life insurance | |
|---|---|---|---|---|
| Policy description |
|
|
|
|
The policy that’s best for you will ultimately depend on your personal circumstances and what you’d like to cover.
Why not use an experienced broker, like Reassured, to compare fee-free quotes?
Level term life insurance covers you for a set term and pays out if you pass away during this time.
Your cover amount remains the same (level) throughout the policy term. For this reason, it’s a popular choice for protecting large costs such as paying off the mortgage and/or covering family living costs.
Recent data shows that UK households are spending £2,870 per month[1] to cover essential living costs.
It’s important to consider whether your family could continue with their current standard of living without your income. Level term life insurance could provide you with peace of mind that your family are protected if you were no longer around.
Below we have compared level term life insurance from some of the UK’s top insurers:
| Insurer | Age limits | Policy term | Policy features |
|---|---|---|---|
|
| 18 - 77 | Minimum of 1 year up to a maximum of 50 years. Policy must end by your 91st birthday |
|
|
| 18 - 77 | Minimum of 1 year up to a maximum of 50 years. Policy must end by your 90th birthday |
|
|
| 18 - 79 | Minimum of 1 year up to a maximum of 52 years. Policy must end by your 90th birthday |
|
| 17 - 84 | Minimum of 5 years up to a maximum of 50 years. Policy must end by your 90th birthday |
|
|
| 18 - 70 | 5 - 50 (cover must cease by age 80) |
|
|
| 16 - 83 | Minimum of 1 year up to a maximum of 50 years. Policy must end by age 89 |
|
The information above has been taken from each insurers website and is correct as of 09/04/26. We don’t work with Royal London. While some insurers offer cover to those aged 16 and 17, Reassured only provide cover to those aged 18 and over.
As you can see from the table above, the terms and conditions and additional benefits can vary between insurers.
This highlights the importance of comparing quotes to find the most suitable option for your needs.
Contact Reassured for your free level term life insurance comparison. We can provide you with quotes from leading insurers like Aviva, Legal & General, LV= and Scottish Widows.
Decreasing term life insurance protects you for a set term and pays out if you pass away during this time.
Your cover amount reduces throughout the policy term, often at the same rate as a repayment mortgage. It’s most commonly taken out to help protect this cost.
Below we have compared decreasing term life insurance from some of the UK’s top insurers:
| Insurer | Age limits | Policy term | Policy features |
|---|---|---|---|
|
| 18 - 77 | Minimum of 1 year up to a maximum of 50 years. Policy must end by your 91st birthday |
|
|
| 18 - 74 | Minimum of 5 years up to a maximum of 50 years. Policy must end by your 90th birthday |
|
|
| 18 - 79 | Minimum of 1 year up to a maximum of 52 years. Policy must end by your 90th birthday |
|
| 18 - 84 | Minimum of 5 years up to a maximum of 50 years. Policy must end by your 89th birthday |
|
|
| 18 - 70 | Minimum of 5 years up to a maximum of 50 years. Policy must end by age 80 |
|
|
| 16 - 83 | Minimum of 1 year up to a maximum of 50 years. Policy must end by age 89 |
|
The information above has been taken from each insurers website and is correct as of 09/04/26. We don’t work with Royal London. While some insurers offer cover to those aged 16 and 17, Reassured only provide cover to those aged 18 and over.
Comparing decreasing term life insurance can help you to find the best option. Through our comparison service you could also compare level vs decreasing term life insurance to ensure you’re getting the right cover for your needs.
Whole of life insurance lifelong cover, paying out when you pass away (rather than if you pass away during a set term).
As cover lasts for life, it’s often used as part of inheritance tax planning. When a policy is written in trust it can help to cover any inheritance tax bills on your estate, which is made up of your property, possessions and savings (inheritance tax is charged at 40% on any value that takes your estate over the threshold of £325,000[2]).
Alternatively, the pay out is often left as an inheritance for loved ones to spend as they wish.
Not all UK insurers offer whole of life insurance which is something to keep in mind if you’re interested in this form of cover.
Below we have compared whole of life insurance from some of the UK’s top insurers:
| Insurer | Age limits | Policy features |
|---|---|---|
|
| 16 - 83 |
|
|
| 18 - 84 |
|
|
| 18 - 89 |
|
The information above has been taken from each insurers website and is correct as of 09/04/26. While some insurers offer cover to those aged 16 and 17, Reassured only provide cover to those aged 18 and over.
At Reassured, our advised team can help you compare whole of life insurance from the whole of the market. Simply get in touch for your fee free quotes.
Over 50 life insurance (an over 50s plan) guarantees acceptance to those aged 50 - 85 without asking for medical information during the application process.
Policies include a 12 or 24 month waiting period at the beginning of the policy where a pay out won’t be made if you pass away due to natural causes. Most policies will cover accidental death during this time.
Once the waiting period has passed you’ll be fully covered and a pay out will be made when you pass away.
The maximum pay out is smaller than other forms of cover. For this reason, it’s often used to help cover funeral costs (average cost of a traditional attended funeral is currently £4,510[3]) or provide a small inheritance for loved ones.
Below we have compared over 50s life insurance from some of the UK’s top insurers:
| Insurer | Age limits | Policy features |
|---|---|---|
|
| 49 - 85 |
|
|
| 50 - 80 |
|
|
| 50 - 80 |
|
|
| 50 - 80 |
|
The information above has been taken from each insurers website and is correct as of 09/04/26. We don’t work with British Seniors or Co-op.
By comparing multiple over 50s plans you can find the right one for your personal circumstances. We can help you compare quotes from leading insurers, SunLife and OneFamily, free of charge.
Critical illness cover can be added to your life insurance policy for an additional cost.
When critical illness cover is added to life insurance it means the policy could pay out if you fall seriously ill (with a specific condition) pass away during the policy term.
A pay out from critical illness cover could help to replace lost income while you’re unable to work, pay for private treatment or make adaptions to your home.
Around 30 conditions are covered covered by critical illness cover, including cancer, heart attack and stroke, but this number can vary between providers.
Below we have compared life insurance and critical illness cover from some of the UK’s top insurers:
| Insurer | Available to | Number of conditions covered |
|---|---|---|
|
| 18 - 64 | 52 conditions |
|
| 18 - 67 | 36 conditions |
| 17 - 59 | 39 conditions |
|
| 18 - 69 | 48 conditions |
|
| 16 - 69 | 39 conditions |
The information is correct as of 09/04/26. We don’t work with Royal London. While some insurers offer cover to those aged 16 and 17, Reassured only provide cover to those aged 18 and over.
As you can see, the number of conditions covered can vary significantly between providers. Comparing quotes can help you to find a comprehensive solution.
Reassured can help you compare life insurance with critical illness cover quotes starting from just 33p-a-dayº.
Joint life insurance protects two lives under one policy, allowing the policyholders to save money as there’s only one premium to pay.
It’s often a popular choice for couples who have shared assets to protect, such as a mortgage.
If one partner passes away during the policy term, the pay out will go to the surviving partner. Once a pay out has been made, the policy will expire.
Below we have compared the price of joint life insurance compared to two single policies.
Quotes are based on non-smokers in good health for a level term life insurance policy with a 20 year term and £150,000 of cover
Age | Joint life insurance | Two single policies | Price difference (%) |
|---|---|---|---|
20 | £7.20 | £8.52 | -15% |
25 | £9.32 | £10.28 | -9% |
30 | £12.06 | £12.82 | -6% |
35 | £16.18 | £18.40 | -11% |
40 | £23.28 | £25.48 | -9% |
45 | £35.40 | £38.06 | -8% |
50 | £59.76 | £60.44 | -1% |
While joint life insurance could help you to save money initially, once a pay out has been made and the policy has expired, the surviving partner may need to seek out a new policy to meet their new circumstances.
It’s wise to compare prices for joint life insurance and two single policies to make sure you’re getting a comprehensive solution for your needs.
It can be useful to read reviews and ratings for life insurance companies to help you make a decision about who to take out a policy with.
The table below shows a range of ratings for some of the UK’s leading insurers. We have used the following ratings:
| Insurer |
|
|
|
|---|---|---|---|
|
| 5 – 2 stars (depending on policy type) | 86% | 4.7 stars (based on all serviced) |
|
| 5 – 2 stars (depending on policy type) | 84% | 4.3 stars (based on all services) |
|
| 5 – 3 stars (depending on policy type) | 77% | 4.3 stars (based on all services) |
| 5 – 2 stars (depending on policy type) | 75% | 4.6 stars (based on all services) |
|
| 5 – 3 stars (depending on policy type) | 71% | 3.5 stars (based on all services) |
|
| 5 – 2 stars (depending on policy type) | 68% | 4.5 stars (based on all services) |
The information used in this table is correct as of 09/04/26. We don’t work with Royal London. Please note that Trustpilot scores are based on all products offered by these insurers and aren’t specific to life insurance.
Why not read our best life insurance providers guide where we break down insurer reviews and ratings in more detail? »
It’s now possible to compare life insurance quotes online, quickly, easily and at your own convenience.
You’ll have access to a range of quotes at your fingertips, allowing you to choose the one that’s right for your needs and budget.
At Reassured, our main aim is to help you find the right policy to meet your needs at our best price.
We do this by comparing quotes from our panel of leading insurers and presenting you with the most suitable options.
A friendly member of our team will also be with you each step of the way to provide support.
Alternatively, we offer an online quote comparison service - allowing you to quickly and easily compare quotes and secure a policy at your own leisure.
Take the first steps in financially protecting your loved ones and get in touch today. Quotes are fee-free and without obligation.
What is life insurance?
Life insurance is a financial protection policy that pays out if you pass away during the policy term.
It can help to provide your loved ones with vital funds when they need it most.
The lump sum pay out is often used to help cover funeral costs, pay off the mortgage and help your family with their living costs.
What is the difference between level term and decreasing term life insurance?
The difference between level term life insurance and decreasing term life insurance is that with level term life insurance your pay out amount remains the same, whereas with decreasing term life insurance it reduces over the policy term.
They both cover you for a set term and pay out if you pass away during this time.
Level term life insurance is typically used to help cover large expenses, while decreasing term life insurance is a popular choice for protecting a repayment mortgage as your cover amount can reduce at the same rate as your mortgage balance.
What is the difference between term life insurance and whole of life insurance?
The difference between term life insurance and whole of life insurance is that term life protects you for a set term, whereas whole of life insurance protects you for the rest of your life.
With term life insurance a pay out is made if you pass away during the policy term but whole of life insurance will pay out no matter when you pass away.
Due to providing lifelong cover, whole of life insurance is more expensive than term life insurance.
How much life insurance do you need?
How much life insurance you need will depend on what you want to protect.
For example, if you’re taking out life insurance to protect your mortgage, your cover amount could reflect your remaining mortgage balance.
Alternatively, if you’re taking out life insurance to protect your family, your cover amount could be a few years worth of your salary to allow them to get back on their feet after your passing.
You could use our handy calculator tool on this page to input your key costs and financial commitments to work out your ideal cover amount.
¶RedArc is a support service that isn’t regulated by the Financial Conduct Authority. These services aren’t part of the terms and conditions of the SunLife Guaranteed Over 50 Plan and may be amended or withdrawn at any time
[1] https://www.nimblefins.co.uk/average-uk-household-budget
[2] https://www.gov.uk/inheritance-tax
[3] https://www.sunlife.co.uk/siteassets/documents/cost-of-dying/sunlife-cost-of-dying-report-2026.pdf