Make sure the people who depend on you are looked after
Life insurance helps make sure the people who depend on you are looked after financially. Albot compares over 30 UK insurers to find cover that could work for you.
Example quote
Why do people get life insurance?
It’s not really about you — it’s about making sure the people who depend on you are looked after if something happens.
Pay off the mortgage
Make sure your family can stay in their home. Life insurance can clear the mortgage so they don’t have to worry about payments.
Replace your income
If your family relies on your salary, life insurance can replace that income for years—giving them time to adjust without financial stress.
Fund your children’s future
University fees, first car, wedding, house deposit—life insurance can help fund the milestones you’d want to be there for.
Clear debts and loans
Don’t leave your family with your debts. Life insurance can pay off credit cards, car finance, and other borrowing.
Cover funeral costs
The average UK funeral costs over £4,000. Life insurance means your family won’t have to worry about this expense during a difficult time.
Peace of mind
Knowing your family is protected lets you focus on living. It’s one less thing to worry about—for you and for them.
Which life insurance is right for you?
There are different types of life insurance to match different needs. Here’s what they do.
Level term
Fixed payout, set period
The payout stays the same throughout the policy. If you die during the term, your family gets the full amount—whether it’s year 1 or year 24.
Good for: Income replacement, family protection, leaving a lump sum for dependants
Decreasing term
Payout reduces over time
The cover amount reduces each year, usually in line with a repayment mortgage. Cheaper than level term because the payout decreases.
Good for: Covering a repayment mortgage — the payout tracks your outstanding balance
Joint life insurance
Cover for two people
Covers both partners under one policy. Typically pays out once—when the first person dies. Usually cheaper than two separate policies.
Good for: Couples with a shared mortgage or financial dependants
Whole of life
Cover that never expires
Guaranteed to pay out whenever you die—no end date. Premiums are higher because a payout is certain. Often used for inheritance planning.
Good for: Leaving an inheritance, covering funeral costs, estate planning
How much cover do you need?
There’s no one-size-fits-all answer. Here’s a simple way to think about it.
Quick calculation
Add up what your family would need to cover if you weren’t there:
Things to consider
Everyone’s situation is different. Think about these factors:
Your partner’s income
Could they manage on their salary alone? Factor in childcare costs if they’d need to work more.
Children’s ages
Younger children need support for longer. Consider university costs, driving lessons, wedding contributions.
Existing savings
Savings and investments can reduce how much cover you need. Don’t forget pensions too.
Workplace death benefits
Many employers offer “death in service” cover—typically 2-4x your salary. Check what you already have.
Not sure? A qualified adviser can help you work out the right level of cover based on your situation. It’s worth remembering that even a smaller policy is better than none.
What affects the cost?
Life insurance is priced based on risk. Here are the main factors insurers consider.
Your age
Younger = cheaper. The earlier you start, the lower your premiums will be.
Smoking
Smokers pay significantly more. Quitting for 12+ months can lower your premium.
Health
Pre-existing conditions may increase premiums. Many conditions are still coverable.
Occupation
Higher-risk jobs cost more. Office workers pay less than construction workers.
Example monthly premiums (£250,000 level term, 25 years)
| Profile | From |
|---|---|
| Age 25, non-smoker, good health | £6.50/month |
| Age 35, non-smoker, good health | £9.00/month |
| Age 35, smoker, good health | £22.00/month |
| Age 45, non-smoker, good health | £21.00/month |
| Age 45, non-smoker, minor health condition | £28.00/month |
Prices are illustrative only. Your actual quote depends on your specific circumstances.
Life insurance questions
Do I need a medical exam?
Usually no. Most life insurance applications are approved based on the health questions you answer online. For larger sums or if you have certain health conditions, the insurer might ask for a GP report or, rarely, a medical exam. This is arranged for you at no cost.
What if I have a health condition?
You can still get cover. Many conditions—diabetes, asthma, depression, high blood pressure—are regularly covered. Premiums might be higher, or there may be exclusions for specific conditions. It’s important to be honest on your application; non-disclosure could void your policy.
Can I get life insurance if I smoke or vape?
Yes, but you’ll pay more—typically double. Vaping counts as smoking for most insurers. If you quit, you’ll need to be smoke-free for 12 months before you qualify for non-smoker rates. Some insurers are more lenient with occasional e-cigarette use.
How long does a payout take?
Most claims are paid within 2-4 weeks once all documents are received. The insurer needs a death certificate and completed claim form. Putting your policy in trust can speed things up significantly and avoids probate delays.
What is “writing in trust”?
Writing your policy in trust means the payout goes directly to your chosen beneficiaries without waiting for probate. It also keeps the money outside your estate, which could save on inheritance tax. It’s free and easy to do when you set up your policy.
Can I cancel if I change my mind?
Yes. You have a 30-day cooling-off period where you can cancel and get a full refund of any premiums paid. After that, you can still cancel anytime—you just won’t get anything back. There’s no penalty or fee for cancelling.
What won’t life insurance cover?
Most policies exclude suicide within the first 12 months. Death from undisclosed pre-existing conditions or dangerous activities you didn’t mention may not be covered. Always read the policy terms and be completely honest on your application.
Want to see what life insurance could cost?
Compare options from over 30 UK insurers in about 2 minutes. There’s no obligation and no pressure — just the information you need.
See what’s availableImportant Information
Life insurance policies have no cash-in value at any time. If you stop paying premiums, your cover will end. The cost of your policy depends on individual circumstances and the level of cover you choose. Premiums are typically fixed but some policies may have reviewable premiums that can change. Policy terms, conditions, and exclusions apply—please read your policy documents carefully.
Albot is an introducer and technology platform, not an insurer. Applications submitted via Albot may be passed to Loan.co.uk Ltd, which provides insurance advice, carries out suitability assessments, and arranges policies with insurers. Loan.co.uk Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 718486).