Family Life Insurance

Speak to one of our team of life insurance experts to get the cover you need with some incredible rewards and benefits from the likes of Apple, Starbucks, Amazon and many more.

Who is family life insurance for?

Family life insurance or level term insurance is generally designed for people who have a family to protect (e.g. partner, spouse or children) as it pays out a tax-free lump sum on death of the life insured.

Family life insurance is ideal for someone who has any form of dependents in their household to ensure that they can continue to live their lives without having to worry about financial hardship and in the lifestyle which they are accustomed to. If you consider what you would do if you or your partner were to unfortunately pass away due to unforeseen circumstances and how either would manage financially in that event.

Who is family life insurance for?

Family life insurance or level term insurance is generally designed for people who have a family to protect (e.g. partner, spouse or children) as it pays out a tax-free lump sum on death of the life insured.

Family life insurance is ideal for someone who has any form of dependents in their household to ensure that they can continue to live their lives without having to worry about financial hardship and in the lifestyle which they are accustomed to. If you consider what you would do if you or your partner were to unfortunately pass away due to unforeseen circumstances and how either would manage financially in that event.

What does family life insurance do?

  • Can be joint or single (see joint or single life insurance guide)
  • Covers life insured up to age 90 (with some life insurance providers)
  • Pays out level sum insured
  • Higher premiums than mortgage life insurance & family income benefit

Critical illness cover is often part of a family life insurance policy if you wanted to add some cover to protect yourself against becoming seriously ill or disability. In most cases it is better to have critical illness cover taken as part of a family life insurance policy (level term assurance) than a mortgage life insurance policy (decreasing term assurance). This is simply because ideally a critical illness risk should be considered to be constant than decreasing in line with your mortgage.

The premiums for family life insurance are based on several major factors to determine the levels of cover you are looking for.

The cost of family life insurance is proportionate to the amount of benefit that you would receive in comparison to other similar life insurance policies (e.g. Mortgage life insurance, family income benefit and whole of life insurance). A family life insurance policy is specifically designed to ensure that your family and your home are protected in the event that you or your partner were no longer around to support your family.

There is an additional optional benefit you can add to your family life insurance policy called ‘INDEXATION’ which is generally free to add. Indexation means that your policy amount will increase annually in line with the rate of inflation (usually RPI + X%) to ensure that your policy benefit remains sufficient throughout the life of that policy.

You should also be aware that your premiums will increase in line with the new level of cover over the term of the plan. The main benefit of adding indexation is that you can increase your cover without the need for any additional medicals or underwriting. This benefit is also completely free with the vast majority of mainstream insurance providers currently.

Our team of insurance experts will help you to get some of the best deals from the UK’s top companies to save you money.

Get a quote

All it takes is a couple of minutes to get covered.

Request a callback

Speak to a an expert adviser for tailored advice.