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Compare Life Insurance

Compare discounted quotes from leading UK life insurance providers and protect your loved ones.

We can provide you with a list of detailed quotes within 3 minutes.

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Compare Cover

Compare Life Insurance Quotes

Life insurance is our speciality and we work with leading insurance providers to allow you to compare life insurance quotes online. Using our life insurance comparison service, you're able to find Level Term Life Insurance, Mortgage Protection Insurance and Critical Illness Cover.

Over the years we've built up extensive industry knowledge. This means we can provide detailed information to help you compare life cover online and make an informed decision. Whether you're new to life insurance or you've bought previously, our aim is to provide you with a service that makes the process as smooth and informative as possible.

Cheaper Life Insurance Than Going Direct

When you use our online life insurance comparison service to get quotes, our rates are more competitive than buying the same policy directly from insurers or your bank.

This is because we give up some of the commission from the policy sale and use it to reduce your monthly premiums. There's no catch and no fee.

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Check Out Our Life Insurance Guides

What is life insurance?

What is life insurance?

First and foremost, life insurance offers peace of mind. In the event of your death, your dependants will receive a lump sum, allowing them to pay off debts, such as your mortgage and...

Do I need life insurance?

Do I need life insurance?

When it comes to exciting purchases, life insurance is never going to top the list. However, it could be an essential purchase if you have a new-born or a toddler, children of school age or a...

Life insurance for a mortgage

Do I need life insurance for a mortgage?

Great news! You've found a house that you love, you've had your mortgage approved and your offer accepted! Now all that's left to do is sort the necessary insurances, so you can get the...

Life insurance for stay-at-home mums and dads

Life insurance for stay-at-home parents

Stay-at-home parents are heroes. On any given day, they act as housekeeper, cook and taxi driver for the whole family. Although their role is precious, it's hard to put a value on the work a...

How to choose life insurance

How to choose your life insurance policy

Have you decided to purchase life insurance? It's a great way to provide for your dependants after your death, allowing them to move on with their lives without the stress of mounting...

How are life insurance costs calculated?

How are life insurance costs calculated?

If you're considering purchasing life insurance, you may be curious to know how monthly premium costs are calculated. Essentially there are five key factors that insurance providers will...

Life insurance FAQ

Life insurance FAQ

If you're considering life insurance there's a good chance you have a few questions. This is why we've gathered a list of life insurance frequently asked questions so hopefully, you can find....

More life insurance guides

More life insurance guides

If you can't see what you're looking for, check out our full list of life insurance buyer's guides here. You can find information on our life insurance providers, how to claim and more.

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Why Trust Compare Cover with your Life Insurance Comparison?

Compare Cover was created by Investment Discounts On Line Ltd in 2016. Our team were among the first to develop price comparison technology online in the United Kingdom, with our life insurance roots going all the way back to 1999. Since then, we've helped thousands of customers save money on life insurance policies.

We're FCA (Financial Conduct Authority) authorised and regulated and we're also covered by the FSCS (Financial Services Compensation Scheme). We take our responsibility very seriously when we perform our duties for you, our customer. Our service is wholly online and you won't receive cold calls or unsolicited marketing from anybody associated with our company.

Our life insurance quotes are always genuine prices directly generated by the life cover providers on our panel. We never promote or sponsor providers, and we present our results in an unbiased price comparison order.

Is Your #LifeSorted?

We asked the people of the UK whether they felt they had their life admin in order. Is your #LifeSorted?

Level Term vs. Mortgage Protection - What's the difference?

Level term life insurance

There are a number of reasons why people take out Level Term Life Insurance. You may have debts that would need to be paid off in the event of your death, perhaps your dependants would be unable to cope financially if you died or you might want to provide money for events in the future, such as your children's schooling. This could also include financial support for your children's futures in the event of your passing, such as a deposit for their first home, a contribution towards a wedding or university costs. But, of course, life insurance should not be considered as a substitute for saving!

If you have a mortgage and would like your dependants to be able to pay off the outstanding capital if you died, level term insurance may be suitable. Many people in such circumstances will also consider Mortgage Protection Life Insurance (which is also often referred to as decreasing term life insurance).

Mortgage protection life insurance

As the name implies, mortgage protection life insurance is designed to pay off your outstanding repayment mortgage in the event of your death. This means that in the event of a claim, your dependants will receive a lump sum intended to help pay off your mortgage, ensuring that your loved ones won't have to worry about losing their home in addition to losing you.

If you have a repayment mortgage the amount of the outstanding mortgage decreases over time. In a similar way with a mortgage protection life insurance policy, the amount of life cover the policy pays out decreases in line with the outstanding balance of your repayment mortgage.

Still unsure?

Check out our explainer video below to find out more!

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Life Insurance Calculator

If you're looking into buying life insurance, thinking about how much to leave your loved ones will form a crucial part of your decision making. We created our life insurance calculator to help you consider your current situation in terms of existing life insurance policies, investments, your mortgage and any credit or loans you may have in your name.

Making sure your loved ones won't have to worry about money should the worst happen to you is a major driving force behind life insurance. Of course, the level of cover you decide on will affect your monthly premiums so it's crucial to think about what you can afford to pay for your cover, while providing your family with enough cover to not have to worry about finances.

Read on for more information about how to choose your life insurance policy or click below to give our calculator a try. It's completely free and doesn't require any personal information!

 

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Life Insurance Cover Calculator

Get started if you're unsure what cover you need

How to Choose a Life Insurance Policy

When deciding on the right life insurance policy for you, it may be worth taking into consideration the amount of money you would need to leave behind in order to protect your loved ones should anything happen to you. This sum should take into account their financial situation, as well as any outstanding debts you may have, such as a mortgage.

Mortgage Protection Life Insurance may be a good option to consider if you're looking for a policy to pay off a repayment mortgage after your death. You select the cover and term to match your mortgage debt. With this policy, as your mortgage decreases the level of cover will decrease over the term. This can be a cheaper option than level term insurance because the amount of cover reduces and typically this type of policy only covers your mortgage repayments and not any other debts you may have, such as credit card debts or bank loans. This policy could be right for you if want to ensure that your partner or children will not lose their home as a result of your passing.

Level Term Life Insurance provides a fixed level of cover, defined by you, that stays the same for the whole of the the policy term. Premiums tend to be higher as a result, but you may want to consider this option if you have dependents who could struggle without your income, such as your children or partner. This kind of policy may help those left behind with any outstanding debts and mortgage repayments, but you could also use a level term policy to leave a little extra behind to cover future expenses like the cost of your funeral, university fees or even holidays!

Our guide on How To Choose Life Insurance can assist when you are looking to select a suitable type of policy for your circumstances.

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Calculating Life Insurance Cover Costs

People often ask us, "how are life insurance costs calculated by providers?" Your life insurance premium is dictated by the amount of cover that you require, the number of years your policy will run for, the type of policy that you decide to take out and various personal factors.

These personal factors can include your age, general health, medical history, lifestyle, the regularity that you travel to foreign countries (where health risks may be higher), and the level of danger that your hobbies or job may expose you to. Life insurance companies also consider whether or not you are a smoker (or have smoked or used nicotine replacement products within the last 12 months) when producing a quote.

The financial needs of your dependants - such as existing debts, school fees, mortgage and reliance on your take-home pay - can all help you determine a level of cover suitable for your situation. The level of cover you choose, the term of the policy and the type of cover you select are the three main things you have control over that allow you to influence your monthly premiums.

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Writing a Life Insurance Policy in Trust

Should your life insurance policy be written in trust, the policy proceeds can often be directly paid to your chosen beneficiaries more quickly following a claim being raised. Writing a policy in trust may also help avoid a policy payout being liable for inheritance tax if the total estate is above the inheritance tax threshold set by HMRC.

When a policy is not written in trust, the proceeds will count as a part of your estate, so they will also have to go through probate which could be more time-consuming.

If you have any questions about policies, such as information about when your employer provides life insurance, or how the time of death within the term of a mortgage protection life insurance policy can affect pay out, please consult our Life Insurance Guides, where you'll discover information you may find useful.

Our Panel of UK Life Insurance Companies

Life insurance is a big commitment, with some policies remaining active and providing cover for 20 or even 30 years. With that in mind, you probably want some assurance that the company you choose is trustworthy, responsible, established and secure.

The companies on our panel of life insurance providers are all authorised and regulated by the Financial Conduct Authority (FCA), as are Compare Cover.

Also, in an age of increasing concern over data security and protection, we're committed to GDPR compliance and protecting your information.

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