Life insurance for teachers

As a teacher, it’s important to have the right life cover in place to protect your loved ones in case the worst were to happen.

Many perceive the process of taking out life insurance to be complicated, but it doesn’t have to be.

By using an FCA regulated broker service, like the one we provide at Reassured, you can compare quotes from multiple providers to find the best policy for you.

We can secure life cover for teachers from as little as 20p-a-day.

Continue reading to find out how to secure the most affordable cover for teachers…

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Do teachers have life insurance UK

Unfortunately, most teachers don’t get life cover through their employment.

In the UK, it’s more common for teachers to only be eligible for a death in service benefit.

This is a pay out from your employer if you pass away during your time in service.

However, once you leave the position your death in service benefit expires, leaving your life unprotected.

Therefore, if you’re a teacher it’s a wise idea to take out your own life cover to protect your loved ones in the event of a worst-case scenario.

Being a teacher won’t affect the life insurance options available to you, meaning there’s a wide variety of policies at your disposal.

Use our impartial, FCA regulated broker service to compare quotes and find the cover you need.

Do teachers need life insurance?

Whether you need life insurance will depend on your own personal needs.

Generally speaking, we believe most people would benefit from some form of life cover to protect their loved ones financially if they were no longer around.

There are different types of life insurance all suited to different life needs.

Without adequate life insurance protection would your loved ones be able to:

  • Pay the mortgage
  • Settle outstanding debts in your name
  • Fund their existing lifestyle

If you were no longer around to contribute financially?

As a teacher, you may also want to consider the level of risk involved with your job.

If you’re a teacher who travels for work, frequently uses harmful chemicals or you work in dangerous environments this may increase your need for life insurance.

While this won’t stop you from taking out life cover, it may lead to increased premiums due to the higher risk you pose to insurers.

Contact our team today who can talk you through the different cover options that are available to you.

How much life insurance do you need?

Enter your financial commitments to understand the level of cover you require.

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£121,687 is the estimated average outstanding mortgage per household in the UK.

Our property is generally the largest financial commitment any of us will make.

Your life insurance should cover this significant debt should you no longer be around.
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According to Money Advice Service, full-time childcare in the UK now costs £242 a week.

The loss of a parent could result in the need for additional childcare whilst the surviving parent increases their hours to account for lost income.

Your life insurance cover should factor in this additional required outgoing.
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The average level of debt (minus a mortgage) in the UK is £15,385.

Factoring in any outstanding debts in your name when arranging life insurance ensures this burden is not passed to loved ones.
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You may wish to leave your loved ones an inheritance or lump sum gift upon your passing.

Factoring in the gift amount when arranging your cover will ensure the pay out amount will be sufficient to provide your loved ones with this selfless gesture.
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According to SunLife, the average cost of a UK funeral is now £4,417, whilst the total cost of dying is £9,493.

This is a 130% increase over the past 16 years and shows no signs of slowing down.

A significant cost which should be factored into the amount of life insurance you secure.
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If you are one of the 65% of the UK who are lucky enough to have savings, this could be used as protection if you were to pass away.

Any pay outs from existing life insurance policies and investments can also be used as financial protection for your loved ones if you were no longer around.

Factor this into your required cover amount.
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Your total cover estimate

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Let us find your best quote.

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Life insurance policies for teachers

Level term

Level term life insurance provides a fixed (or level) lump sum pay out.

This means that the amount paid out upon your passing won’t change throughout the length of your policy.

The amount your loved ones receive will be the amount agreed when you took your policy out.

You’ll be protected for an agreed period of time (the term) and if you pass away during this time, a pay out will be made.

If you don’t pass away, no pay out is made and your policy expires.

This type of cover is ideal for protecting large expenses such as paying off debt, an interest-free mortgage or leaving as an inheritance.

Get in touch for quotes on level term life insurance policies.

Decreasing term

With a decreasing term policy, your sum assured will reduce throughout the term of your policy.

As with any term policy, you’ll be covered for a specific period of time and your loved ones will only receive a pay out if you pass away during the term.

If you don’t pass away, no pay out is made and your policy expires.

Decreasing term life insurance is well suited to covering a repayment mortgage as you can have your sum assured decrease in line with your outstanding balance.

At Reassured we can compare multiple decreasing term policies to find the most cost-effective option.

Whole of life

Whole of life insurance is a form of life assurance, as you’re provided with life-time cover.

This means that your loved ones are guaranteed a pay out.

Whole of life tends to be well suited to those who’re later on in life and in good health.

Arranging a whole of life policy at a young age can lead to you paying more into your policy than it’ll pay out.

At Reassured, we can compare both term and whole of life insurance policies to ensure you secure a policy that suits your needs.

Over 50s plan

UK residents aged 50 – 85 are guaranteed acceptance to an over 50s plan, with no medical information required.

This option is well suited to those over 50 with less than favourable health.

Due to the unknown risk you pose to insurers, your sum assured will often be capped at around £25,000.

Most insurers also add a ‘waiting period’ to the policy, (usually 12 – 24 months).

This means if you pass away due to natural causes during this time period, no pay out will be made. However, the premiums you’ve paid will be refunded.

A pay out from an over 50s plan can be used to cover funeral costs or left as an inheritance for your loved ones to enjoy.

To compare over 50s plans, get in touch today.

Family income benefit

Family income benefit is an alternative type of life insurance.

Rather than receiving a lump sum pay out upon your passing, your loved ones will receive a monthly (tax-free) income.

This can help to cover:

  • Daily living expenses
  • Monthly rent payments
  • Help with long-term budgeting

Having to budget a large sum of money can be extremely stressful, especially at an already difficult time.

Family income benefit will relieve your loved ones of this stress and ensure they can continue to live comfortably.

However, family income benefit cannot be used to pay off larger debts in one lump sum (such as a mortgage).

In some cases, depending on your budget, it can be beneficial to take out a life insurance policy (such as decreasing term) as well as family income benefit.

Cost of life insurance for teachers

Like all applicants, the cost of your monthly premiums will be based on the level of risk you pose to the insurer.

Providers will take into consideration the following:

  • Age
  • Current health
  • Smoking status
  • Type of policy 
  • Level of cover
  • Length of term

Teachers may experience inflated premiums with certain insurers due to working in dangerous environments, working with hazardous chemicals or travelling a lot for work.

In these instances, providers may ask for more information about your job to understand the level of risk you pose.

It’s extremely unlikely that you’ll be declined life insurance due to your profession.

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Do teachers get death in service?

Yes, teachers are eligible for a death in service benefit through the teachers’ pension scheme.

Death in service benefit through the teachers’ pension scheme is 3x your salary, but this amount may differ if your employer offers a different pension.

You’ll no longer benefit from death in service if you leave your profession, highlighting the need for additional protection in the form of life insurance.

Life insurance vs death in service

Even with death in service, teachers may benefit from additional life cover.

While a death in service benefit will provide a pay out to ease some financial burdens for your family in the event of your passing, it’s unlikely that this will cover all costs.

This is because your pay out will be a set amount decided by your employer (for teachers this is normally 3 times your salary).

With life insurance you can choose your sum assured to ensure there are enough funds for your loved ones to live comfortably.

Death in service will only protect you while you’re in service. If you leave your job, you’ll no longer receive this benefit.

Life insurance provides you with your own personal protection so you can secure the future of your family no matter what happens.

Life insurance Death in service
Provides your own personal protection Offers financial protection through an employer
Can choose sum assured to meet your needs (up to £1,000,000) Pay out will be a multiple of your salary (for teachers typically 3x)
Pay out can pay off mortgage, cover living costs, pay for your funeral or be left as inheritance Unlikely that pay out amount will cover mortgage or other large debts
Cover remains in place until the end of term or until you pass away Cover will cease if you leave employment


Teachers are able to secure affordable life insurance. At Reassured, we can find you cover from just 20p-a-day.

Teachers pension scheme

Teachers’ pension are responsible for managing the teachers’ pension scheme on behalf of the department of education.

The teachers’ pension scheme is only one of eight schemes guaranteed by the government.

You can find full information on what a teacher's pension includes here.

Does teachers pension include life insurance?

The teachers’ pension scheme doesn’t include life insurance; however, it does include death benefits and death in service.

Death benefits will allow a payment to be made to your spouse in the event of your passing during retirement.

The amount paid out will depend on how much pensionable service you have and what agreement you’re a part of.

Although this payment can ease some financial stress for your loved ones, it’s likely that it won’t cover all expenses.

As discussed previously, death in service will pay out a multiple of your salary if you pass away while in service with your employer.

Life insurance allows you to choose the amount that you’d like to be paid out so you can ensure that all costs are covered and your family can live comfortably.

Being a teacher won’t affect your ability to obtain life insurance.

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Teachers pension critical illness

The teachers’ pension scheme provides ill health cover.

This will pay out an early proportion of your pension should you be unable to work due to ill health.

This is similar to critical illness that can be added onto a term life insurance policy for an additional cost.

Critical illness cover allows you to make an early claim if you’re diagnosed with a life-changing illness (listed within your policy) that may prevent you from working.

This pay out can be used to cover any lost income or to help pay for medical costs.

Alternatively, terminal illness comes as standard with any term life insurance policy taken out through Reassured (other than an over 50s plan).

This provides an early pay out if you’re diagnosed with a terminal illness and predicted to pass away within 12 months.

While ill-health cover will help to provide some financial support, it’s likely it won’t cover all of your expenses.

This is where terminal illness or critical illness can be beneficial as you’ll receive your sum assured in full.

What happens to my teachers pension when I die?

If you pass away and are receiving a teachers’ pension, your pension will automatically be paid to your spouse.

If you don’t have a spouse, you’ll need to make a known nomination to teachers’ pensions to declare who you’d like the funds to go to.

This is known as a death benefit.

Life insurance for retired teachers

Retired teachers aren’t provided with life insurance.

However, there are retirement benefits you can take advantage of as part of your teachers’ pension.

If you’re taking out life insurance after retirement you may find your premiums to be higher due to your age and health.

At this stage of your life you may want to consider one of the following options:

UK residents aged 50 – 85 are guaranteed acceptance to an over 50s plan, with no medical information required.

Whole of life insurance provides lifetime cover, due to this it’s well suited to those later on in life who’re in good health.

A funeral plan allows you to pay for your funeral at today’s prices so your loved ones don’t have to find the funds themselves when the time comes around.

To find the right cover, call Reassured today. A friendly member of our team will be happy to talk you through all of your options.

Teachers insurance

Teachers insurance is specialist insurance for those in the independent teaching profession, it won’t provide life cover.

Teachers insurance refers to insurance that will cover you for risks that are likely to happen while carrying out your profession (such as theft of equipment or injury to a student).

Unfortunately, this type of insurance isn’t provided by Reassured.

Discounts for teachers

Teachers often benefit from a range of discounts across many services, products and days out.

As a teacher, you’re eligible for a discount on life insurance through the website discountsforteachers.co.uk.

This includes an offer from Reassured. Teachers can obtain free quotes and save up to £1,137*.

They’re currently offering the following discounts for teachers:

  • Save 10% on life and critical illness insurance with Zurich
  • Discounted quotes for life and illness insurance, free advice and Will, plus up to £100 cashback with Life Search
  • 10% cashback on life insurance on every life insurance policy with Assured Futures
  • 10% cashback on every income protection policy with Assured Futures
  • 10% cashback on every over 50s life insurance policy with Assured Futures

The discounts stated are correct as of 15/03/21, please note they may be subject to change.

While a discount on your policy may seem like an attractive offer, it’s not the most important thing to consider when taking out life cover.

What’s more important is finding a provider that offers cover that meets all of your needs.

At Reassured we can compare multiple policies to ensure you’re getting the right level of cover for the best price.

Compare life insurance for teachers

To secure the most affordable cover, it’s crucial to compare quotes as prices can vary significantly.

Using our FCA regulated broker service you can compare quotes from some of the UK's leading life insurance providers.

Our award-winning team can take you through all the available options so you can find your ideal policy.

By comparing quotes, you can save money on your policy as well as ensuring the right cover is in place to protect your loved ones.

Why not put us to work today and save yourself time and money?

Compare Life Insurance Quotes for Teachers »

Sources:

*Saving illustrates a total saving over the term of the policy. Illustration based on Life insurance (including earlier terminal illness) AIG, 40-year-old, non-smoker, £100,000 sum insured, over a term of 30 years

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