Life Insurance

The cover amount stays the same for the whole term. It’s the most popular type for family protection: a fixed lump sum can help pay off debts, fund childcare, replace lost income, or provide a financial buffer for your dependants. Policies typically pay out on death and often include terminal illness benefit as standard. You choose the cover amount and term at outset, and premiums can remain fixed for the life of the policy.

Designed to mirror a repayment mortgage: the cover amount reduces over time, roughly in line with your outstanding balance. Because the cover decreases, premiums are typically lower than level term. It’s a cost-effective way to ensure your family can stay in the home if the worst happens. Some policies can also be used alongside other debts that reduce over time, such as personal loans.

Instead of a single lump sum, this pays a regular tax-free monthly amount — like a salary replacement — to your surviving partner or dependants until the policy term ends. Some policies include annual increases linked to inflation (RPI) to maintain the real value of payments over time. It’s particularly popular with families who rely on one income and want to maintain household cash flow rather than manage a large one-off payout.

Available for UK residents aged 50–80, typically with guaranteed acceptance and no medical questions required. Cover amounts are generally smaller and premiums are higher relative to the payout, but it’s a straightforward option for helping with funeral costs, outstanding debts, or leaving a gift to loved ones. Some policies include a moratorium period (usually 12–24 months) before the full benefit applies.

Covers two people on one policy and pays out once — typically on the first death. It’s often more affordable than two separate policies, making it a popular choice for couples with a shared mortgage. However, after a payout, the surviving partner would need to arrange their own cover separately.