By taking out life cover when you’re young, you are eligible for cheaper monthly premiums because of your long life expectancy and relative good health. Young people also have a better chance of improving their health by changing their lifestyle. It’s never too early to consider buying insurance. Joint policies can also provide cheaper insurance cover. Taking out a policy together with your spouse or business partner, ensures the same lump sum pay-out payable upon first death for cheaper monthly premiums.

Healthy living is critical to cheaper insurance cover. Quit smoking, cut back on alcohol consumption, lose weight and get plenty of exercise. Smokers, heavy drinkers and those who are obese automatically fall into high risk categories, pushing up your monthly premiums. Certain bad habits may also compromise your eligibility for critical illness cover. Don’t ever lie about your state of health as this can be considered fraudulent, which may result in the insurer refusing to make any payments.

Consider term insurance rather than whole life cover. The longer the term and larger the insurance sum, the more expensive the monthly premiums will be. By decreasing the length of cover and the final sum, you reduce your monthly premiums making the financial security provided by life insurance more affordable. Be sure to review your policy regularly as changing circumstances may require a change in policy. Make sure your policy is flexible before signing up for cover you can’t change.

Level or fixed term cover provides a lump sum pay-out upon death at the end of the cover term for a fixed monthly premium. This is the standard and most common life cover plan. Whole life cover is another option. Although slightly more expensive, whole life cover guarantees a pay-out regardless of when you die – there is no term end date. With these packages, additional benefits such as critical illness cover may be added for little or no extra cost depending on the individual insurer.

Decreasing term or mortgage protection plans offer monthly pay-outs after death that gradually decrease over time until the debt is paid in full. Over 50s plans have a tendency to be more expensive, but monthly payments are often waived should you live beyond the age of 90, even though the cover continues until death. Certain additional benefits may be added to these plans depending on the individual insurer.

Eligibility for critical or terminal illness cover depends on the individual insurer. Both types of cover provide either lump sum or monthly pay-outs upon diagnosis for a fixed duration or until death. Income protection plans can be used when the ability to earn an income is lost due to illness, injury or involuntary unemployment, but terms and conditions again depend on the criteria stipulated by the individual insurer.

The larger the lump sum pay-out, the highly the monthly premiums. Purchasing life insurance should never prove a financial burden on you and your family. Only purchase the amount of cover you can currently afford. Most insurers provide online insurance cover calculators helping you determine the lump sum required by your dependants. This calculator uses your monthly expense figures such as rent, food and utility charges to calculate a figure required at the end of the term.

Many life insurance companies recommend a sum equal to ten times your annual salary. You can, however, settle on a figure closer to twenty-five times your annual income if you need to provide for several young children. The amount of cover and how much you can afford on monthly premiums is entirely up to you. Insurers may take inflation into account and raise monthly premiums accordingly, but they may not mean your money will buy less twenty years from now.

Life cover also depends on health and lifestyle. If you anticipate being diagnosed with a critical or terminal illness then you should take out the necessary insurance plan to protect your family financially. Insurance policies should also cover outstanding debts and funeral costs. The lump sum required to cover all these circumstances may seem exorbitant, but monthly payments now could save your family from financial woes at the time of your death.

Life insurance policies generally have a fixed term of ten, fifteen or twenty years. The cash pay-out is available only upon death at the end of the policy unless you make a different arrangement that allows pay-outs before the end of the term. Certain policies, such as critical illness and income protection plans, allow pay-outs to be made prior to the death of the insured. Some plans are flexible allowing you to increase or decrease cover according to your changing circumstances. Terminal illness plans may require certain conditions be met before any pay-out will be granted.

The pay-out can also be broken down into smaller payments providing a monthly income for family members. This is particularly popular for parents who leave behind children and want to ensure that monthly living expenses are taken care of. In the event of critical illness of loss of income due to illness or injury, monthly pay-outs are also made available to beneficiaries. Decreasing plans such as those used for mortgage repayments offer a monthly pay-out that gradually decreases according to the amount outstanding on your mortgage.

Different life insurance providers offer a variety of different plans and packages each with their own pay-out options and conditions. Consulting a financial advisor is advised if you are looking for an insurance plan differing from the standard deals, tailored to suit your specific requirements and monthly budget.

Have you considered starting a family? Life insurance could help you and your partner provide for your children in the unfortunate event of death, illness or income loss. Taking out life insurance today provides financial security for your loved ones whether it is a year or ten years from now. No one wants to leave their children with the financial burden of paying off their debt or trying to make ends meet on a monthly basis.

Even as a single young adult without any dependants, you might consider life insurance as a means of covering funeral costs. Although a morbid thought, no one wants to leave a financial burden on their remaining family members. As a single adult, life insurance also provides additional financial security should you lose your income due to illness or injury.

If you’re elderly, you might consider life insurance as a means to cover funeral costs or for financial security during a time of terminal illness. Insurance policies for over 50-year-olds tend to be pricier but may well be worth the monthly premiums should you be diagnosed with a terminal illness before the end of the term.

Life insurance shouldn’t place you under additional financial strain. Purchasing life cover should be affordable given your current financial situation, safeguarding your future while providing a means of covering debt upon death.

LV= Options



LV= offer both Mortgage Life Insurance and Level Life Insurance. These plans both provide a lump-sum payout at the time of death. Critical Illness Cover is available to both Mortgage and Life insurance clients. By taking out life insurance with LV= you become eligible for discounts on a range of their other products.

Level Life Cover



Available to UK residents between the ages of 17 and 69, the Level Life Cover guarantees fixed monthly premiums, starting at £5/month, for the duration of the policy. With this policy you can also take out critical illness cover, providing financial security for you and your family should you be diagnosed with one of the 38 recognised critical illnesses or left permanently disabled.

Liverpool Victoria Mortgage Life Insurance

Also only available to UK residents between the ages of 17 and 69, the mortgage insurance plan is cheaper than the Level Life plan although the amount does decrease over time in accordance with mortgage repayments. The terminal Illness benefit is available with this plan although cover ends immediately after the payout should you be diagnosed with a terminal illness.

Liverpool Victoria Over 50s Cover

Available to UK residents between the ages of 50 and 80, the premiums for this plan can be as little as £5 per month with a £25 000 maximum cover amount. There is also an additional funeral benefit available with this plan.

Liverpool Victoria Life Insurance guarantees friendly, customer service and packages tailored to suit your individual needs with the ability to change according to your circumstances.

Critical Illness Cover

This cover is available to level and decreasing term clients and pays out a lump-sum if you’re diagnosed with one of the illnesses or disabilities as specified by the insurer. Cover for children is included for free. Legal & General also offer a waiver of payment option should you suffer an accident or illness that stops you from working for at least 6 months.



Legal & General Over 50s Plans


Legal & General offer a variety of Over 50s Plans including fixed and increasing term packages, and a funeral plan. The funeral plan is designed to cover the costs of your funeral alleviating that burden from your family. Fixed and increasing term plans allow a lump-sum payout to loved ones and the funds from these policies can also be placed in a trust should your prefer. 




Legal & General Mortgage Insurance



Legal & General offer two mortgage life insurance options, one specifically designed to cover the mortgage repayments on a decreasing term policy, while the other payout a lump-sum to your loved to be used as they see fit. The mortgage insurance policy also includes terminal illness cover at no extra cost.

Legal & General provide quality insurance packages offering financial security to you and your family. Simple and comprehensive, these plans can be customised to suit your individual needs.

John Lewis offers a variety of packages from Level Term life cover to Decreasing Term plans. With John Lewis you may also take out their insurance plan as single or joint life policies complete with illness and injury benefits.

John Lewis Level Term Life Insurance

John Lewis guarantees that the monthly payments for this life insurance plan will stay the same, providing a lump-sum cash pay out upon death. The premiums may be waived for a period of up to 6 months should you lose your income due to illness or injury. Early payments are available to those diagnosed with a terminal illness at least 18 months before the end of the policy term.

Mortgage Protection Plan

Also known as decreasing life cover, this plan is suited to those still facing mortgage repayments or other debt. The pay out received at the time of death will gradually decrease according to the outstanding mortgage payments. This plan costs as little as £5 per month and also includes the terminal illness benefit of an early payout should you be diagnosed before the end of the policy term.

John Lewis Joint Life Cover

Ideal for spouses or civil partners wanting to protect their family’s finances or for business partners who share financial commitments, this cover may taken as either a level term or decreasing term policy depending on the type of financial security you’re looking for.

John Lewis has a reputation for providing high quality services. Life insurance packages from John Lewis guarantee flexible and comprehensive financial security for you and your family.

Protection for Life

This plan is provided by Scottish Widows and can include Life, Critical Illness and Income Protection cover all within one plan. You may amend the type and level of cover should your circumstances change, such as having children. This simple, but comprehensive package is easy to set-up and guarantees a lump-sum pay out upon death.

Halifax Over 50 Guaranteed Life Insurance

Halifax guarantees cover to UK residents ages between 50 and 75 years without any medical check-ups. For as little as £10 per month, this plan guarantees fixed-rate monthly payments and a lump-sum pay out upon death. After the age of 90, the cover continues and you will no longer have to make payments.

Income Protection Cover

The income protection cover is an optional extra available to life cover clients. This plan helps maintain lifestyle by providing you and your family with a monthly income in the event that you are unable to work due to accident or critical illness during the policy term. 

Critical Illness Cover

This optional cover provides a lump-sum pay out should you be diagnosed with a critical illness as specified by the insurer during the policy term. This cover is available an no additional cost and guarantees financial security for you and your family.

Halifax Life Insurance guarantees the protection of your family’s finances in the event of your death or should you be incapacitated by illness.

AXA Sun Life Insurance

With premiums starting at just £5 per month, this plan is a simple way of protecting you and your loved ones. The Sun Life plan doesn’t require a medical examination, you just need to answer 5 short eligibility questions before signing up. The first month’s premium is free and after that the fees are fixed so your premium never goes up.

AXA Over 50 Life Insurance

Sun Life Direct offers cheap and simple life cover to UK residents aged between 50 and 85. For as little as £4 per month, this plan guarantees a fixed premium and a lump-sum pay out after two years helping your family to cover funeral expenses and other unexpected costs.

AXA Funeral Plans

Simple Choice Funerals offers two options for helping your family arrange your funeral: Funeral Plan and Funeral Assist. These plans differ according to how much financial assistance you would like your family to have with funeral arrangements. Both plans arrange for cremation funerals through one of the UK’s largest funeral directors, Co-Operative Funerals.

AXA Terminal Illness Benefit

This benefit is an optional extra available to Sun Life insurance plan clients. This benefit means you’ll receive back 15% of your premium payments if no claim has been made by the end of the policy’s term.

For simple, no frills, no fuss life insurance, look no further than AXA. AXA, together with Sun Life Direct, provide comprehensive and affordable life insurance to people of all ages.