Life insurance comparison UK

Just as if you were shopping for any other form of insurance, comparing life insurance is essential in finding the best deal.

Life insurance can pay out a lump sum to your loved ones if you pass away during the policy term.

These funds could be vital in helping your family meet future living costs, such as paying the mortgage and household bills.

The pay out could also help to cover other costs, such as your funeral, or allow you to provide an inheritance.

From comparing different policy types and insurers to comparing 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 quote comparison from our panel of insurers, which includes top UK providers:

By comparing multiple quotes we can provide you with our best available deals.

Save time and money by comparing quotes through Reassured today.

Types of life insurance comparison

If you’ve just started on your journey of securing life cover, you may wonder what policy options are available and how they differ.

Conducting a comparison of life insurance policies can help you understand your options and allows you to choose one that best meets your needs.

Typically, the options available include:

Level term quote comparison

Level term life insurance

A popular choice for those who are looking to help cover a mortgage, other debts and/or family living costs in the event that they passed away.

  • Provides cover for a specified period
  • Pay out is made if you pass away during this time
  • Pay out remains level (stays the same) throughout the policy lifetime
  • Sum assured up to £1,000,000
  • Medical information required during the application process
  • Terminal illness cover included at no extra cost
  • Often more expensive than decreasing term due to the greater level of cover provided
  • Available from 20p-a-day through Reassured
Decreasing term quote comparison

Decreasing term life insurance

Ideal for those who want help protecting a repayment mortgage (as the sum assured can reduce at the same rate) to keep loved ones in the family home.

  • Provides cover for specified period
  • Pay out is made if you pass away during this time
  • Pay out decreases throughout the policy lifetime
  • Sum assured up to £1,000,000
  • Medical information required during the application process
  • Terminal illness cover included at no extra cost
  • Often the cheapest form of life insurance as your risk to the insurer reduces
  • Available from 20p-a-day through Reassured ¥
Whole of life quote comparison

Whole of life insurance

Well suited to helping those who are later in life guarantee an inheritance for loved ones.

  • Provides cover for the rest of your life
  • Pay out is guaranteed no matter when you pass away
  • Pay out is level (remains the same)
  • Sum assured up to £1,000,000
  • Medical information required
  • Terminal illness cover not included
  • Available from 27p-a-day through Reassured ±
Over 50 plan quote comparison

Over 50 life insurance

Ideal for those over 50 who want to help cover the cost of their funeral when they pass away.

  • Guaranteed acceptance to those aged 50 - 85
  • Provides cover for the rest of your life
  • Pay out is guaranteed no matter when you pass away
  • Pay out is level (remains the same)
  • Sum assured up to £20,000 (depending on personal circumstances and budget)
  • No medical information required during the application
  • Terminal illness included with some providers
  • Available from 20p-a-day through Reassured +

The policy type that’s best for you will ultimately depend on your personal circumstances and what you’d like to cover.

When using a life insurance broker, such as Reassured, you can compare a range of policy types to find a suitable option for your needs.

How much life insurance do you need?

Before conducting a life insurance comparison, why not work out how much cover you might need? Simply fill in the fields which apply to you for an instant calculation.

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£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.

Source: Moneynerd.co.uk

£
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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.

Source: Nimblefins.co.uk

£
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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.

Source: Money.co.uk

£
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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.

Source: SunLife.co.uk

£
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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: Daynurseries.co.uk, Primarytimes.co.uk & Savethestudent.org

£
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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.

Source: Moneyage.co.uk

£
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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.

Source: Scottishbusinessnews.net

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Your total cover estimate

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Level term life insurance comparison

Term life insurance provides cover for a specified period of time (the term). If you pass away during this time, a lump sum payment is made to your loved ones.

Level term life insurance provides a fixed sum assured (pay out amount), this means the amount paid out doesn’t change over time.

Due to the large pay out potential, level term life insurance could help to cover an interest-only mortgage, other large debts and/or family living costs.


Below is a level term life insurance comparison between some of the UK’s leading insurers:

InsurerMinimum/maximum ageTermPolicy features (including but not limited to)
Aviva 18 - 771 - 50 years
(policy must cease before your 91st birthday)
  • Separation benefit
  • House purchase cover
  • Aviva DigiCare+ app
  • Free parent cover
  • Terminal illness cover
Legal & General 18 - 771 - 50 years
(policy must cease before your 90th birthday)
  • Wellbeing support (provided by RedArc Assured Limited)
  • Accidental death benefit
  • Make changes to your policy
  • Free life cover (if you’re moving home, up to a maximum of 90 days)
  • Terminal illness cover
AIG 17 - 862 - 70 years
(cover by cease before you’re 90th birthday)
  • Free access to Smart health
  • Child support fund
  • Waiver of premiums
  • Make changes to your policy
  • Terminal illness cover
LV= 17 - 845 - 50 years
(cover must cease by your 90th birthday)
  • LV= doctors service
  • Make changes to your policy
  • Terminal illness cover
Royal London review logo 18 - 705 - 50
(cover must cease by age 80)
  • Payment holiday
  • Make changes to your policy
  • Terminal illness cover
Zurich logo 16 - 831 - 50
(cover must end by age 89)
  • Milestone benefit
  • Separation benefit
  • Multi-fracture cover
  • Terminal illness cover

The information above has been taken from each insurer’s website and is correct as of 01/06/23

While some insurers offer cover from the age of 17, Reassured only offer cover to applicants over the age of 18.

Just as the policy features and criteria can vary, the price for level term life insurance can also vary between the different insurers.


The table below shows a price comparison between three insurers available through Reassured.

Quotes are based on a non-smoker, in good health, for a level term life insurance policy with a 20-year term and £100,000 of cover:

Age Aviva AIG Legal & General
20£3.50£3.64£4.99
25£3.50£4.46£4.99
30£4.23£5.08£4.99
35£5.67£6.47£6.32
40£7.97£8.52£8.77
45£11.43£12.19£13.28
50£18.34£18.17£21.13


While level term life insurance is an affordable option, it’s typically more expensive than decreasing term life insurance.

This is because your pay out amount remains level, therefore providing a greater level of cover.

Reassured can help you compare level term quotes from some of the UK’s best life insurance providers, allowing us to provide you with our most affordable quotes.

Simply get in touch to use our fee free comparison service. Quotes start from just 20p-a-day.

Decreasing term life insurance comparison

Decreasing term life insurance provides cover for a specified period.

A pay out will be made if you pass away during this time. However, the potential pay out to your loved ones will reduce throughout the policy lifetime.

Most commonly, decreasing term life insurance is taken out to help protect a mortgage. For this reason, it’s often referred to as ‘mortgage life insurance’.


Below is a decreasing term/mortgage life insurance comparison between some of the UK’s leading providers:

InsurerMinimum/maximum ageTermPolicy features (including but not limited to)
Aviva 18 - 771 - 50 years
(policy must cease before your 91st birthday)
  • Separation benefit
  • House purchase cover
  • Aviva DigiCare+ app
  • Free parent cover
  • Terminal illness cover
Legal & General 18 - 745 - 50 years
(cover must cease before your 90th
birthday)
  • Wellbeing support (provided by RedArc Assured Limited
  • Accidental death benefit
  • Make changes to your policy
  • Free life cover (if you’re moving home, up to a maximum of 90 days)
  • Terminal illness cover
AIG 17 - 862 - 70 years
(cover by cease before you’re 90th birthday)
  • Free access to Smart health
  • Child support fund
  • Waiver of premiums
  • Make changes to your policy
  • Terminal illness cover
LV= 18 - 845 - 50 years
(cover must cease by your 89th birthday)
  • LV= doctors service
  • Make changes to your policy
  • Terminal illness cover
Royal London review logo 18 - 705 - 50
(cover must cease by age 80)
  • Payment holiday
  • Make changes to your policy
  • Terminal illness cover
Zurich logo 16 - 831 - 50
(cover must end by age 89)
  • Milestone benefit
  • Separation benefit
  • Multi-fracture cover
  • Terminal illness cover

The information above has been taken from each insurer’s website and is correct as of 01/06/23

While some insurers offer cover from the age of 17, Reassured only offer cover to applicants over the age of 18.

As with level term life insurance, the price you pay for decreasing term cover can vary between the different providers.

In general, decreasing term life insurance tends to be the cheapest form of cover.


The table below shows a price comparison for decreasing term life insurance between three providers available through Reassured:

Age Aviva AIG Legal & General
20£3.50£3.87£4.99
25£3.50£4.30£4.99
30£3.59£4.59£4.99
35£4.44£4.90£4.99
40£5.47£5.47£6.28
45£7.56£7.77£8.25
50£11.80£11.43£12.36


A friendly member of our team can help you compare decreasing term life insurance from many of the providers mentioned above.

Whilst there may not be a huge fluctuation in price between the different providers, even a small saving each month could result in a significant saving over the lifetime of your policy.

The price you pay will also vary based on your health and other risk factors, due to the different underwriting processes used by insurers. This makes it even more important to compare quotes.

Decreasing term life insurance starts from just 20p-a-day, so why not get in touch for your fee free quotes?

Whole of life insurance comparison

Whole of life insurance provides lifelong cover, therefore guaranteeing a pay out to your loved ones when you pass away.

For this reason it’s often used to provide funds to help cover funeral costs, provide an inheritance and/or to help cover inheritance tax on your estate.

Not all UK providers will offer whole of life insurance as an option.


Below we have compared some leading insurers who offer this policy type:

InsurerMinimum/maximum agePolicy features (including but not limited to)
Zurich logo 16 - 83
  • Can be taken out on a joint basis
  • Terminal illness cover
  • Free cover during underwriting
  • Milestone benefit
  • Make changes to your policy
  • Waiver of premium can be added for an extra cost
Legal & General 18 - 84
  • Can be taken out on a joint basis
  • Make changes to your policy
  • Waiver of premiums can be added for an extra cost
Royal London review logo 18 - 89
  • Helping hand service (giving you access to health and wellbeing support)
  • Make changes to your policy
  • Waiver of premiums can be added for an extra cost
AIG 17 - 84
  • Can be taken out as a joint policy
  • Make changes to your policy
  • Waiver of premiums can be added for an extra cost

The information above has been taken from each insurer’s website and is correct as of 01/06/23

While some insurers offer cover from the age of 17, Reassured only offer cover to applicants over the age of 18.

Due to providing lifelong cover, whole of life insurance tends to be more expensive than term life insurance.


The table below shows a whole of life insurance price comparison between two insurers available at Reassured.

Quotes are based on a non-smoker, in good health, for a whole of life insurance policy with £50,000 of cover:

Age Zurich logo AIG
20£32.76£32.78
25£33.54£34.74
30£37.90£37.95
35£43.20£43.89
40£50.91£51.23
45£57.32£58.79
50£70.39£72.34
55£73.29£75.10
65£106.78£117.43
70£138.88£149.41


While whole of life insurance is cheaper the younger you are, if you’re paying premiums for the rest of your life, you could risk paying more into the policy than it will pay out.

Therefore, whole of life insurance could be well suited to those who are in later life who are still in good overall health.

Whole of life insurance is available through Reassured from just 27p-a-day, simply get in touch for your free whole of life insurance quote comparison.

Over 50 life insurance comparison

Over 50 life insurance (or an over 50s plan) guarantees acceptance to those over 50, without the need to provide medical information.

As no medical information is required, insurers tend to offer a lower maximum cover amount. Typically, this is between £10,000 - £20,000.

Once a policy is secured, cover will last for life and a pay out is guaranteed to your loved ones upon your passing.

The funds from an over 50s plan are most commonly used to help cover funeral costs and/or provide a small inheritance.


Below is an over 50 life insurance comparison between some popular UK providers:

InsurerMinimum/maximum ageTermPolicy features (including but not limited to)
SunLife logo 18 - 771 - 50 years
(policy must cease before your 91st birthday)
  • Full cover after just one year
  • Accidental death cover
  • Funeral benefit option (with a £250 contribution)
OneFamily logo 18 - 745 - 50 years
(cover must cease before your 90th
birthday)
  • Fully covered after two years
  • Accidental death benefit
  • Terminal illness cover
  • Health and wellbeing support through RedArc
  • Funeral funding (with a £300 contribution)
Post Office logo 17 - 862 - 70 years
(cover by cease before you’re 90th birthday)
  • Full cover after just one year
  • Accidental death benefit
  • Protected benefit
  • Funeral benefit option (with a £250 contribution)
Direct Line logo 18 - 845 - 50 years
(cover must cease by your 89th birthday)
  • Fully covered after 2 years
  • Accidental death benefit
  • Access to 24/7 health and wellbeing support with the Get Smart app
  • Protected benefit

The information above has been taken from each insurer’s website and is correct as of 01/06/23

With over 50 life insurance, while many policy features are similar, the maximum age at entry and maximum sum assured can vary.

For this reason, it’s essential to compare quotes to ensure you’re getting suitable cover for your personal circumstances.


The table below shows a price comparison between two over 50 life insurance providers available through Reassured. Quotes are based on a non-smoker for £4,000 of cover:

Age SunLife logo OneFamily logo
50£14.02£12
55£15.79£14
60£17.69£16
65£21.08£20
70£27.93£27
75£39.37£39
80£54.67£65
85£73.83Cover not available at this age through OneFamily


Premiums for over 50 life insurance are calculated differently to traditional life insurance, as medical information isn’t required during the application.

Instead, the price you pay is based on your age, level of cover and (sometimes) your smoking status.

Conducting an over 50 life insurance price comparison is essential in finding an affordable policy.

At Reassured, we can provide over 50s plans starting from just 20p-a-day. Contact us today for our best over 50s quotes.

Life insurance prices comparison

Our award-winning broker service found that the average price for life insurance in the UK is £38.15.

We calculated this from 142,576 term life insurance policies sold between 08/09/21 - 08/09/22 with an average sum assured of £151,972.

However, the price you pay for life insurance can vary significantly depending on the policy type you take out and your personal circumstances.

For example, term life insurance tends to be cheaper than whole of life insurance due to only providing cover for a specified period.

The price you pay for life insurance can also vary depending on your personal circumstances.

During the application you’ll need to provide key information so that insurers can assess your level of risk and calculate your life insurance premium accordingly.

This information includes:

  • Age
  • Current health & wellbeing
  • Medical history
  • Occupation
  • BMI
  • Lifestyle
  • Smoking status
  • Policy type
  • Sum assured
  • Policy term

The table below shows example life insurance premium comparisons between term life insurance and whole of life insurance. Quotes are based on a non-smoker, in good health:

AgeLevel term
(20-year term with £150,000 of cover)
Decreasing term
(20-year term with £150,000 of cover)
Whole of life insurance
(£50,000 of cover)
20£3.53£3.50£32.76
25£4.27£3.91£33.54
30£5.30£4.54£37.90
35£7.61£5.34£43.20
40£10.54£6.98£50.91
45£15.74£10.12£57.32
50£25.34£15.90£62.37


As you can see from the life insurance comparison table, the price you pay for cover can vary depending on which policy type you secure.

The price you pay also increases as you get older. So, by securing cover sooner rather than later, you can lock in the cheapest price throughout the lifetime of your policy.

Reassured can help you conduct a full life insurance price comparison to help you secure an affordable deal which meets your needs.

By comparing a variety of policy types from multiple insurers we can provide you with our best quotes.

Simply get in touch.

Life insurance and critical illness cover comparison

Critical illness cover can provide an extra safety net by allowing you to claim in the event of serious illness.

You can choose to add critical illness cover to your term life insurance policy for an additional cost in your premiums.

By adding critical illness cover you can either make a claim if you’re diagnosed with a serious illness (that’s listed within the policy) or if you pass away.

The early pay out critical illness cover provides could help to replace lost income if you’re unable to work, or could help to cover private medical/carer fees.


The table below shows a price comparison between a standard life insurance policy and a life insurance policy with critical illness cover added.

Quotes are based on non-smoker, in good health, for a level term life insurance policy with a 20-year term and £150,000 of cover:

AgeLife insurance price per monthLife insurance with critical illness cover price per month
20£3.53£8.01
25£4.27£10.26
30£5.30£13.08
35£7.61£18.29
40£10.54£25.64
45£15.74£36.74
50£25.34£53.13


While critical illness cover can increase the price you pay for life insurance, you’ll benefit from the extra safety net of cover.

Whether adding critical illness cover to your policy is right for you will ultimately depend on what you want to cover and your available budget.

For example, if you worry about making ends meet in the event of serious illness, critical illness cover could be worthwhile.

Compare life insurance with critical illness cover through Reassured from 33p-a-day º .

Joint life insurance comparison

Joint life insurance is a popular choice for couples who want to protect shared assets (such as a mortgage) and/or their family.

Taking out a joint policy can also help you to save money on your life cover.

This is because a joint life insurance policy protects two lives simultaneously, meaning there’s one application to complete and just one premium to pay.

However, this also means the policy will only pay out once. After this, the policy will expire and the surviving partner will need to source a new policy at an older age.

Securing two single policies from the beginning can provide your loved ones with two separate pay outs and could allow both partners to lock in affordable premiums.


The table below shows example price comparisons between a joint life insurance policy and two single policies.

Quotes are 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:

AgeOne joint life insurance policyTwo single life insurance policies% Percentage difference
20£5.96£7.0617%
25£7.70£8.5410%
30£9.96£10.606%
35£13.38£15.2213%
40£19.26£21.089%
45£29.28£31.487%
50£47.62£50.686%


Conducting a full joint life insurance vs two single policies comparison is essential in finding the right policy for your needs and budget.

At Reassured we can help you do this, free of charge. Simply get in touch for your free and no-obligation quotes.

Life insurance companies’ ratings comparison

Comparing insurer ratings could help you establish the right insurer for you.

A highly rated insurer shows that customers are happy with the products and services offered.


The table below shows a ratings comparison of some of the UK’s leading insurers:

InsurerDefaqto
(expert ratings, out of 5 stars)

Fairer finance
(customer experience rating)

Aviva 5 stars79%
AIG 4 stars 73%
Legal & General 5 stars76%
LV= 4 stars71%
Royal London review logo 5 stars73%
Zurich logo 4 stars72%


Both Defaqto and Fairer Finance offer independent ratings for a range of financial services, aiming to help customers make more informed decisions.

Reassured are rated as ‘Excellent’ on Trustpilot with over 70,000 customer reviews.

Why not get in touch for your free life insurance quotes?

Online life insurance comparison

Comparing life insurance online can allow you to find a policy in just a matter of clicks.

You’ll have a range of quotes at your fingertips and you can choose the one which meets your needs and budget.

Compare quotes online with Reassured

Reassured now offer an online life insurance quotes comparison service, putting you in control of when and where you secure cover.

If you know exactly what you’re after, or your lifestyle makes it hard to take calls during the day, comparing quotes and buying a policy online can be an ideal option for you.

When buying life insurance online through Reassured, you’ll benefit from:

  • Quotes from some of the UK’s best insurers
  • The choice of level term or decreasing term cover
  • Free and no-obligation quotes
  • Free terminal illness cover with all term policies
  • Help from one of our experts over the phone if you get stuck or have any questions

Head over to our dedicated buy life insurance online page for more information »

Frequently asked questions

Are life insurance comparison sites good?

Life insurance comparison sites can allow you to gather a range of quotes, quickly and easily.

However, if you have questions or need help understanding policy details, there’s no one on hand to answer these queries.

When securing cover through a life insurance broker, you have access to multiple quotes from a range of insurers while having a dedicated team member to guide you through the application and answer any questions.

Why not get your free quotes through Reassured today? We also offer the opportunity to buy life insurance online if you know exactly what you require.

What is the best life insurance company UK?

The best life insurance company will depend on your personal needs and circumstances.

Each insurer will offer different features and benefits, as well as using different underwriting processes.

However, Aviva and Legal & General are the UK’s biggest insurers, with both being well rated by their customers.

Reassured can help you compare both Aviva and Legal & General quotes. Simply get in touch.

What are the benefits of life insurance?

The main benefit of life insurance is that it can help to provide you with peace of mind that your loved ones are taken care of financially if the worst were to happen.

Other benefits include:

  • Can allow you to leave a lump sum to loved ones without needing to put money away into savings
  • Could help to protect your mortgage, allowing loved ones to remain in the family home after your passing
  • Could help to alleviate your loved ones of the responsibility of paying for your funeral (current average cost of a funeral is £3,953[1])
  • Could allow you to leave an inheritance for loved ones to spend as they wish

How to get the best life insurance deal?

Shopping around and comparing quotes is essential in finding a great deal on life insurance.

If you were looking to insure your car, you’d likely gather multiple quotes and go with the most suitable one - life insurance is no different.

Reassured can compare quotes from leading UK insurers, helping you find our best available deals.

What’s more, our quote service is completely free to use and we offer cover starting from just 20p-a-day.

Life insurance quote comparison

At Reassured, our main aim is to help you find the right policy to meet your needs at our best price.

We offer a free quote comparison service, allowing you to compare leading UK insurers and smaller specialists.

A friendly member of our team will also be on hand to help you fill out the application form and answer any questions you may have.

Alternatively, we offer a buy online service - allowing you to quickly and easily compare quotes at your own leisure.

Simply get in touch to get started on your journey.

Sources:

[1] https://www.sunlife.co.uk/funeral-costs/

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