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In this guide to the best life insurance companies, our experts have reviewed the latest independent information to bring you our list of the best in the UK. Alongside this research, we’ve provided some simple explanations about how life insurance works and the different types of policies available.
Every year, our experts review the UK’s leading life insurance providers, paying careful attention to customer satisfaction and claim payout rates. With this information, we can deliver a summarised list of the best of the best. Read on to discover which companies and policies stand out in 2024. But please remember, you should always speak to an insurance broker and get comparison quotes before you make a decision. Everyone’s needs are different and this guide isn't financial advice.
Here is shortlist of the best health insurance currently available in the UK. Please click on each of the companies to read our more detailed reviews, and remember, you should always compare policies and speak with a financial adviser before making a purchasing decision.
*All policy information in this guide is accurate per the providers’ websites, last updated on 15th December 2024. myTribe's rankings are based on customer ratings and historic claims payout data. You should always do your own research or speak with a broker before making a purchasing decision.
Every year, our experts review the UK’s leading life insurance providers, paying careful attention to customer satisfaction and claim payout rates. With this information, we can deliver a summarised list of the best of the best. Read on to discover which companies and policies stand out in 2024. But please remember, you should always speak to an insurance broker and get comparison quotes before you make a decision. Everyone’s needs are different and this guide isn't financial advice.
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Founded in 2007, Vitality has become well-known in the life insurance marketplace for its proactive approach, helping customers live longer and healthier lives and providing financial protection. Vitality is well-regarded by its customers, as reflected in its excellent Trustpilot reviews.
Vitality offers several types of life insurance policies, including term life insurance (which pays out if you pass away during a fixed period) and whole life policies (with a guaranteed payout). If you choose a term policy, you can choose a level term policy with a fixed payout, a decreasing term policy which is excellent for covering financial commitments like a mortgage, or an increasing term policy which safeguards your payout against rises in inflation.
You can take out a Vitality insurance policy if you're aged between 17 and 75. However, you can only benefit from coverage before your 90th birthday (unless it's a whole-of-life plan).
With Vitality, your life insurance policy comes with many extras to help you stay healthy and, in some cases, reduce your premiums.
Vitality currently has a 4.3/5 star rating on Trustpilot from more than 47,300 reviews. We should point out that these reviews are for Vitality, the company as a whole, rather than purely for life insurance. But still, the sheer volume of reviews and the high rating indicate that customers are, on the whole, delighted with them.
In 2023, Vitality paid out £83.5m in life insurance claims, with 99.7% being paid. Vitality's life insurance claims payout rate for 2023 is among the highest in the market, signalling their commitment to paying as many claims as possible.
A key objective of Vitality's is to encourage positive lifestyle choices among its members with the aim of improving their health. With Vitality, you get a wide range of additional benefits, including discounted gym membership, a free Apple Watch with qualifying plans, discounted wearable fitness tech and bicycles and even free treats from Caffè Nero. You can even save on your premiums with Vitality saying, "The healthier you are, the lower your premiums stay". Ultimately, being healthy benefits you and Vitality, so they're happy to incentivise positive lifestyle choices.
Aviva is the largest insurer in the UK, providing everything from car and home to health and life insurance. Similarly to others, we mention in this article Aviva has an great reputation among its members, and they offer competitively priced policies.
Aviva offers level, decreasing and increasing cover life insurance policies, with the option to add critical illness cover with an additional premium. Cover is available to anyone between the ages of 18 and 77 and lasts until you're 90 years old. Like most insurers mentioned here, you can also choose for your Aviva life insurance policy to be joint with your partner. However, it's important to note that joint policies only pay out once, after the first partner dies.
Aviva has amassed over 40,000 reviews on Trustpilot, with a current (December 2024) rating of 4.1 out of 5. Again, please be aware that this rating applies to the company as a whole, not just their life insurance. But, it indicates that customers are often very happy with Aviva.
IIn 2023, Aviva paid out more than £761m in life insurance and terminal illness benefits at a rate of 99.3% accepted claims. The financial amount paid out and the rate at which claims are accepted are among the highest in the UK market, which is why they appear so highly in our rankings.
One striking extra benefit for Aviva customers is its Digicare+ app. With this app, customers can get a second medical opinion, a complimentary annual health check, mental health support and nutritional advice at no extra cost
For more than 200 years, Scottish Widows has been assisting UK families with life insurance and pensions. Today, it's owned by the Lloyds Banking Group. Read on to learn more about Scottish Widows, what their customers think and why they've made it into our top three.
Scottish Widows offers three options for term life insurance. They are level term life insurance (where your premiums and cover amount stay the same throughout the length of your policy), decreasing term (to cover mortgage repayments) and increasing term (to ensure your payout retains its purchasing power in line with inflation). All policies are available to UK residents aged between 18 and 79.
You can also get premium protection, which means you don't have to pay your premiums if you can't work due to an accident or disability. Joint policies are also available, but you must remember that a joint only pays out once before it expires.
Scottish Widows has an excellent Trustpilot rating of 4.3/5 stars from 6,072 reviews as of December 2024. This rating relates to Scottish Widows’ entire range of products, not just life insurance, but it's among the highest of any of the companies we've reviewed here.
In 2023, Scottish Widows paid out 99% of life insurance claims, totalling more than £149 million to 10,000 families. 30% of these claims were on behalf of people who had passed away due to cancer.
Scottish Widows life cover gives customers access to Scottish Widows Care. This service consists of two offerings: RedArc and Clinic In A Pocket. RedArc is a phone-based service where you can talk to professional nurses and get medical support, including on matters relating to mental health. Clinic In A Pocket is a remote GP and prescription service delivered through its app.
Liverpool Victoria, often branded as LV=, has been a leading UK life insurance provider for over 180 years. It's one of the best-reviewed insurers on our shortlist. Read on to learn more about their policies and why they're considered among the best in the market.
LV= offers both Level and Decreasing cover life insurance options. This means you can choose whether your loved ones receive a fixed amount if you pass away or whether the payout reduces in line with financial commitments such as your mortgage. You can also get single and joint life cover policies. All policies are available to UK residents aged between 17 and 84. The policy term can be anywhere from 5-50 years but must end before your 90th birthday.
Like most insurers, you can add critical illness cover to your policy (for an extra monthly premium).
LV= is one of the UK's highest-rated life insurers based on their customer reviews, with a 4.5-star rating on Trustpilot based on over 75,000 reviews. It's important to note that these reviews are for the company as a whole rather than purely for life insurance. But it still demonstrates their commitment to high levels of customer satisfaction.
The latest numbers from LV= show that in 2023, the insurer paid out 97% of all life insurance and terminal illness claims, totalling more than £87 million. Once LV= have made a decision to pay out your claim, they aim to transfer the money to your beneficiary within just 3 days. While the payout rate isn't as high as the first few entries on our list, it's still very good in the broader UK life insurance market.
When you take out life insurance with LV=, you get free access to Doctor Services, LV=’s remote health product. LV= Doctor Services gives you fast and convenient remote access to medical services via a phone call or app request. You also get free access to LV=’s legal advice line. Finally, LV= offers up to £250 in gift vouchers for all new members.
Part of the Swiss insurance giant, Zurich’s UK arm offers competitive life insurance policies to British residents. Customers choose Zurich for its affordable premiums, high payout rate and extra support services. Let’s find out more about how life insurance works with Zurich.
Zurich offers life cover to UK residents starting at only £5 per month. Choose from level cover (fixed premiums and payout amounts), decreasing cover (appropriate to cover mortgage repayments) or increasing cover (to safeguard your lump sum payout against inflation rises).
You can purchae life insurance cover from Zurich at the age of 16. The maximum purchasing age is 83. Cover can last until you’re 89. The minimum term length available is one year; the maximum is five years
As with most insurers, Zurich allows you to add critical illness cover to your life insurance policy for an extra monthly premium. If you are diagnosed with a serious illness (from a specified list of 39 conditions), Zurich will pay out up to £25,000.
Currently, Zurich has a 3.9 out of 5 star rating on Trustpilot, based on just over 3,000 reviews. However, it’s important to note that this rating is for Zurich’s entire insurance range, not just life cover. While not quite as high as some of the other insurers we’ve mentioned in this guide, it’s still good and reflects overall positivity among Zurich’s customers.
In 2022, Zurich paid 98% of life insurance claims, and so far, we've not seen their stats for 2023. As soon as they release them, we'll update this article.
Zurich life insurance customers get 24/7 access to Zurich’s support services. These include mental health support and counselling. Zurich is also currently offering £100 vouchers for new customers, valid at retailers including John Lewis and Amazon.
Founded in 1836, Legal & General has been providing different types of insurance to UK residents for more than 180 years. Customers value Legal & General’s affordable premiums and excellent customer service. Let’s find out more about Legal & General’s life insurance range.
With fixed monthly premiums starting at just £5, Legal & General has a life insurance policy for everyone. Choose from level term insurance (with fixed premiums and cover amount) or decreasing term (The cover amount reduces throughout the term; great if you want to cover your mortgage with life insurance). You can also add critical illness cover to your policy, which pays out if you’re diagnosed with a serious illness, such as cancer or multiple sclerosis.
To apply for Legal & General life insurance, you need to be over 18, currently living in the UK and have stayed in the UK for at least 183 days in the last tax year.
Legal & General have a Trustpilot rating of 4.2 out of 5, based on over 18,000 reviews in December 2024. Similarly to other insurers in this review, these reviews relate to more than purely life insurance, however, they are still among the best in the market.
In 2023, Legal & General paid out 97% of claims, a touch lower than some of its peers. The total number of claims was 13,007, and the total amount paid was more than £519 million.
Legal & General life insurance customers get free access to their Wellbeing Support Service, where you can talk to a dedicated nurse and receive a clinical assessment. For extra help in later life, customers also get access to Care Concierge, a confidential telephone advisory service. Finally, new customers will receive a £120 gift card, which can be used at M&S and Amazon.
As one of the biggest banks in the UK, HSBC needs little introduction. But did you know they also offer life insurance to protect your loved ones if the worst happens and you pass away? You don’t even have to have a bank account to make use of these policies.
SBC offers customers level term and decreasing life insurance policies. Both pay a lump sum to your loved ones if you pass away during the term of the policy. But with level term, the payout and your premiums stay the same throughout your policy, while decreasing term policies see the payout reduce over time.
You can apply for HSBC life cover if you’re aged between 17 and 70. However, your cover must end before your 80th birthday. This is much lower than other insurers in the marketplace, who cover customers until they’re 90.
HSBC has a poor score of 2.2 out of 5 stars on Trustpilot, based on over 9,500 reviews. However, these reviews concern every service HSBC offers in the UK, not just life insurance. Even if many of the reivews relate to HSBC's other services, it's not a great indication of overall customer satisfaction.
In 2023, HSBC paid out 97.5% of life insurance claims, totalling more than £785 million. The average turnaround time for life insurance claims with HSBC is six weeks.
HSBC offers customers access to online health services, all through one user-friendly app. Features include remote GP consultations and second medical opinions.
Founded in London in 1862, Royal London is the UK’s largest mutual insurer. This means it’s owned by its policyholders rather than a private company. Many customers enjoy the fact that they have a stake in the success of their insurer. Now, let’s look deeper at Royal London and the life insurance policies it offers.
Royal London’s Direct Life Insurance offering is straightforward. Open to UK residents aged between 18 and 70, you can get level term cover (where premiums and the cover amount stay the same during your policy term) or decreasing term (the cover level reduces, making it handy for paying a mortgage).
You can add critical illness cover to your life insurance policy. However, it’s important to note that it only specifies six serious illnesses. Other insurers have a much longer list of illnesses that they cover.
Royal London has a 4.2 out of 5 star rating on Trustpilot. This is a ‘great’ rating and competes well with other insurers in the marketplace, as many have much lower ratings.
In 2023, Royal London paid out 94.1% of all term life insurance claims. This is a reassuring percentage if you’re considering taking out Royal London life insurance. It means your loved ones are very likely to receive a payout if the worst happens and you pass away, provided you are honest and accurate in your application.
Royal London is all about simplicity. It is currently not offering any extras or offers to tempt new customers.
The Exeter is a mutual organisation with no shareholders. All profits are invested back into the company, and customers are known as members. The Exeter promotes itself as a specialist in providing life insurance for people with medical problems, which many insurers will shy away from.
The Exeter offers two types of life insurance policy: level cover (where your premium payments and cover amount remain the same for the duration of your policy) and decreasing cover (where the potential payout reduces, making it a cost-effective option to cover your mortgage). Applications are open to anyone between 18 and 80 who has been resident in the UK for the last three years. However, your cover automatically expires on your 90th birthday.
On Trustpilot, The Exeter has an excellent rating of 4.3 out of 5 stars. This is based on just over 970 reviews. While the sample size is small, it’s a good indication that The Exeter are a highly regarded insurance provider who looks after its customers well.
In 2023, The Exeter paid out on 90% of life insurance claims and 88% of terminal illness claims. The total amount exceeded £1.5 million. The payout rate isn't on par with other insurers in our review, but the overall value is also relatively modest, suggesting there haven't been many claims.
When you take out life insurance with The Exeter, you get access to their HealthWise app. With this app, you can talk to medical experts whenever you need them, including remote GP appointments and second opinion consultations. You can even speak to physiotherapists, dieticians and mental health experts.
Nationwide is the world’s largest building society, as well as the largest retail bank in the UK. It offers life insurance policies in partnership with Legal & General. Let’s look in more detail at Nationwide and whether its life insurance policies could work for you.
Nationwide offers level cover (fixed payments and static cover amount throughout the policy) or decreasing term cover (cover amount reduces throughout the policy in line with the amount you owe on your mortgage). You can also add critical illness cover, which pays out a proportion of your cover amount if you are diagnosed with one of a list of conditions specified by the insurer.
To get approved for level term insurance cover through Nationwide, you must be a UK resident between 18 and 77 years of age. However, your cover can last until your 90th birthday.
One of the dangers of going by review sites like Trustpilot is that if a company offers a wide range of different products, it groups them all together and you can’t separate them out.
Nationwide has a poor Trustpilot of 1.9/5 stars based on more than 6,600 reviews.
However, many reviews are for a product other than life insurance, not dissimlar to HSBC. Nationwide has a Defaqto score of 5 out of 5 stars for life insurance, rated by experts, so you can be reassured that its life insurance is comparable to other top insurers.
Payout statistics for Nationwide are currently unavailable. However, it runs its life insurance in partnership with Legal & General, which paid out 97% of claims in 2023.
To build these lists of the best life insurance policies and companies in the UK, we combined independent reviews from Fairer Finance on each company’s claims, complaints and transparency, alongside a score for how comprehensive each of their policies are. For the over 50s policies, we only looked at the comprehensiveness of each policy, because they are guaranteed to pay out, so an insurer’s claims record is not relevant.
Our aim is to help you identify the best life insurance policy based on quality indicators, not cost.
In another recent article, we’ve also ranked the best health insurance in the UK.
"I recently got an insurance policy through myTribe and the service was excellent from start to finish. The adviser that I spoke to was very patient and took time to explain all of the intricacies to me so that I felt confident and informed when making a decision."Compare life insurance
by Chris Stratton - 12th May 2022
A life insurance policy is a contract between you and an insurance company which ensures your family or loved ones are financially secure if you were to die. Having life insurance will give you peace of mind that should the worst happen, your family will be taken care of and not end up financially destitute.
You pay monthly or annual premiums and the insurance company promises to pay out a cash sum if you were to die while the policy is active. That is provided that all of their terms and conditions are met.
Every company and policy provider has its own conditions and indeed exclusions, so it is vital to read the small print of your policy documents. For example, many providers won’t pay out if death occurs due to suicide, a drug overdose or a risky or reckless act. If you have any questions or concerns about the policy you are thinking of taking out, be sure to speak to the insurance company and get clarification.
There are a number of key questions you should ask yourself when considering how much life insurance you need.
The first question you should ask yourself is who else is financially dependent on you? Do you have a partner or children who rely on your income? Are there other family members who would face financial hardship if you were no longer around to support them?
If you don’t have any dependants, then there may not be a need for you to take out life insurance at all.
Some insurance companies will offer free life insurance to new parents, but this may not be enough to cover all of your costs if the worst happens to you, so it is well worth considering your options if you are expecting a baby.
Before you look at how much cover you require it’s important to understand what arrangements you already have in place, such as death in service protection from your employer or indeed your own savings. Even if you don’t have a life insurance policy, you may find that your employer will pay out a cash sum in the event of your untimely death. The value of this lump sum will vary from employer to employer, but often it is around four times your annual salary.
If you don’t have a mortgage or too many dependants, you may find that this cover is actually ample, and you don’t require additional life insurance protection. Just bear in mind that if you change jobs, or become self-employed, you could lose that benefit.
Often when a policy is configured, you will start with the size of your mortgage and any other debts you have, and look to have those paid off should you die. Generally speaking, debts reduce over time as you pay them off, which is why insurers have created policies such as decreasing term life insurance, which also reduce over time.
A rule of thumb is to cover 10 times the main breadwinner’s income; this is meant only as a guide though, and everyone’s circumstances will be different. It may sound like a lot of money, but you need to bear in mind that inflation will eat into the value of any payout over time.
The quotes you receive for life insurance will vary dramatically based on the amount of cover you would like. So when you compare life insurance companies and policies it’s vital to always use the same details of how much cover you would like and for how long.
Life insurance costs around £10 a month on average based on the quotes we received in April 2020, for a 36-year-old, with a clean medical history, who doesn’t smoke and is a light drinker.
The prices you receive will vary based on your own circumstances, such as your age, any pre-existing medical conditions you may have and also whether you smoke.
If you add critical illness cover to the policy it will increase the cost of the policy too, usually by as much as the cost of the original policy.
The good thing with life insurance is that most premiums are fixed and the monthly costs will never increase.
It is always worth shopping around when looking for life insurance as it will likely be a one-time purchase that will stay with you for most of your adult life.
There are various types of life insurance and therefore it’s important to not only seek out the cheapest option but also find the type of insurance that is right for you.
Here’s a list of the main types of life insurance, all of which we explore in more detail in this article.
Term life insurance, whether it’s level term or decreasing, can often offer the best value for those looking for a cheap life insurance policy. Term insurance insures you for the term of the policy, paying out if you die before the policy ends. If you don’t die before the policy ends, the premiums you’ve paid won’t be returned.
There are two main types of term insurance: level term and decreasing term, in the next section we explain the difference.
The key difference between level term and decreasing term life insurance policies is what they pay out if you die while the policy is active.
Level term life insurance pays out the same pre-specified cash lump sum if you die, regardless of whether you die at the start or the end of the term of the policy. The cover remains the same throughout the life of the policy and the premiums remain the same too. Level term life insurance is often a good choice for those looking to cover interest only mortgages, that are not covered by an investment vehicle or endowment policy.
UK comparison websites often use level term insurance as the foundation for their quotations, but it’s not always the best route to keep costs down.
Decreasing term life insurance is similar to level term inasmuch as the premiums tend to remain the same throughout the term of the policy. However, how it differs is that with decreasing term life insurance, the amount of cover decreases over the term of the policy. Meaning that if you die towards the end of the policy, the cash lump sum will be significantly less than if you were to die at the beginning.
This type of policy is often used to cover debt, such as a repayment mortgage, as the outstanding balance will get smaller over time.
Decreasing term life insurance is an excellent way to get a cheaper policy, assuming you understand that the cover will decrease over time. If you’re looking to get life insurance to cover your mortgage or other debt, this is an excellent choice. As well as providing mortgage cover, this type of policy can also be useful for inheritance tax planning purposes.
We obtained quotes in January 2024 for a level term policy for a 32-year old, non-smoker, with a clean medical history who is based in London. The prices we received back, ranged from £11.50 per month, up to £19 per month.
As will be the case with any types of insurance, costs can vary significantly based on your own personal circumstance and of course policy choice. It is always worthwhile doing independent research and also speaking to an independent expert, such as our FCA approved advisors, before you buy.
Generally speaking, life insurance costs rise with age, so the younger you are when buying a policy, the cheaper it will usually be across the term. If you suffer from any ill health or are a smoker, you can expect your life insurance premiums to be higher.
The great thing with life insurance is that getting quotes is usually quick and easy, so you can very quickly compare costs and benefits of the various providers. Just be mindful that comparison websites tend to be quite sparse in terms of information, so going direct to the providers or speaking to a life insurance broker are both sensible options.
Over 50s life insurance, also known as “lifelong protection”, is a specific type of policy created for those between 50 and 80 years of age. Rather than the usual health interviews and questions from doctors, everyone between 50 to 80 is guaranteed acceptance. It’s for this reason that over 50s life insurance is also referred to as “no-medical life insurance”.
With over 50s life insurance, premiums are usually fixed and stop at the age of 85 or 90, with cover then continuing for the entirety of the holder’s life.
Something to be careful of is that over 50s life insurance often has a qualifying period, between 12 and 24 months and if you die during this initial period your premiums may be returned without the cash lump sum being paid. Of course, all life insurance companies have their own rules, so be sure to read the small print before committing.
You can get over 50s life insurance for as little as £7 but bear in mind that you won’t get a huge amount of coverage for that so if you want more cover, you can expect to pay more. While you’re guaranteed to be accepted for “no medical” life insurance, costs can still vary depending on your age and how much cover you need.
Whole of life insurance provides cover for your whole life as the name suggests. As with other insurance, you pay your premium each month and, when you die the policy pays out a lump sum.
With whole of life policies, the insurance company invests your premiums into a life fund that spreads its investment across the stock market, bonds, property and cash. When you die, it then uses that fund to pay your cash lump sum.
The significant benefit of whole of life cover is that you are guaranteed a payout because the policy lasts the entirety of your life.
It’s important to remember though, that your cover is tied to the performance of the insurer’s investments and if that fund performs poorly, you could be asked to increase your premiums, even though you’ll still have the same level of cover.
In 2016, the financial ombudsman received thousands of complaints about whole of life insurance policies. Primarily, those complaints were due to companies slashing the levels of cover their schemes offer while asking customers to pay the same premiums. The reason for this is that premiums and sums assured are reviewed after 10, 15 and 20 years.
A lot of customers who had whole of life policies felt they were not properly informed about the reviews and thousands were understandably upset when they received letters informing them about their cuts to cover.
At the time, the Telegraph spoke to one customer, whose life and critical illness cover, was slashed from £113,500 to £36,950, despite paying Sun Life of Canada premiums for over 20 years.
As you can see, it’s incredibly important to understand how life insurance works before you take it out, so make sure you speak to potential insurers and seek out independent advice before committing to a policy.
If you’ve been hit with a reduction to your cover or an increase to your premiums, it may be worth shopping around for another provider to see if you can get better terms.
It’s possible to arrange whole of life insurance for as little as £10 per month, but many things, such as your age and medical history will affect the price you pay. If you’re a heavy drinker, smoker or have suffered medical issues in the past, you can expect to pay more than this for your cover.
Essentially, the higher the risk of you dying young, the more expensive cover will be. Women typically pay less as they often live longer.
The total cost of a policy also depends on whether payments stop at a set age or continue indefinitely. If you continue paying until you reach the age of 100, for example, you may find your cover has come at a very high price.
Online price comparison sites don’t always take this into account, so make sure you click through to read the full policy details for each insurance company.
The majority of people that pay for life insurance choose either level or decreasing term insurance that runs for a set period of time. Term insurance is usually cheaper than whole of life and most people in their later life have much less need to provide life cover for the ones they love.
The main reason people take out whole of life cover is to help reduce their family’s inheritance tax bill (IHT). If for instance, you take a whole life cover policy, you can write it into trust and your beneficiaries will receive a tax-free cash lump sum that they can use to pay the inheritance tax bill.
Tax planning is a complicated area and we’d always recommend taking specialist advice about how to put life insurance into trust.
Many people choose to take out critical illness cover at the same time as a life insurance policy. Critical illness pays out a lump sum if you die, become terminally ill, or are diagnosed with a serious illness. As soon as one of these happens, the policy ends and is paid out. Family life insurance with critical illness cover provides this type of protection for multiple people in a family.
Critical illness insurance policies will cover any of 35 specified illnesses and up to 150 for more comprehensive policies. Effectively the more you’re willing to pay, the more illnesses will be covered by the policy.
What is and isn’t covered also varies from provider to provider, so it’s important to look closely at the list of conditions. For example, some providers may not cover forms of cancer which are easily curable. Similarly, mild heart attacks and strokes might not be considered severe enough to justify the policy paying out. Reading the policy small print and exclusions will help you understand what is and isn’t covered.
Critical illness cover costs will depend on how likely you are to fall ill, alongside how many illnesses you would like cover for. Many providers ask applicants to complete health questionnaires or have a check-up with a doctor before providing a policy. If you want to reduce the cost of your policy you can do so by living a healthier lifestyle. Quitting smoking, reducing your weight and exercising frequently can all bring premiums down.
These are the 8 best best critical illness policies based on comprehensiveness:
Our own funerals aren’t something we often discuss, but they can be costly, so making some preparations for yours is sensible. Life insurance that specifically covers the cost of your funeral can be a simple way to ensure that there is at least no financially related stress associated with your death.
Here are a few of your options:
Whole of life insurance policies are a good option, but bear in mind they can take some time to pay out in the event of your death.
Another option is getting a funeral plan that will cover the cost of your funeral - just be sure to check what it covers and what is and isn’t included.
If you’re planning on your family using your savings to pay for your funeral just make sure the money is held in a joint account that a member of the family has access to.
For more information about funeral plans, check out this useful guide by Bought by Many.
Other providers
Disclaimer: This information is general and what is best for you will depend on your personal circumstances. Please speak with a financial adviser or do your own research before making a decision.
As the founder and editor of myTribe Insurance, the role of Chris Steele is to ensure that the information we provide is of the highest quality and value to those who read it.
