Before you start getting quotes online, work out how much cover you want, and for how long. This will make it easier for you to find the policy you want at the cheapest price:

  • How much of a payout you need: The higher the amount you choose, the more expensive your premiums are likely to be. Only get quotes for cover you need to try and cut the cost of your life insurance.

  • How long you need cover for: Work out how long you need cover for and choose a length to match, e.g. to run alongside your mortgage term. However, the shorter the term you choose, the more expensive your premiums will be.

How does it work?

Level term life insurance gives you a payout if you die during a fixed term, like 40 years.

If you die after the term ends, you will not qualify for a payout, and your monthly premiums are not returned to your family.

If you want a life insurance policy that covers you for life, compare whole of life insurance policies here.

How long can a policy last?

There are a few restrictions that could affect the term you choose:

  • Maximum age you can apply: Depending on the policy, a policy may set a maximum age restriction for when you can apply, e.g. 49 years old.

  • Maximum age you can have cover until: All policies have age limits, meaning a policy will no longer cover you once you reach a certain age, like 70 years old.

  • Maximum term a policy can last for: All term life policies have a fixed length of time they run for, like 40 years, and you cannot choose a term that exceed this.

Level term life insurance FAQs

Q

How much does level term life insurance cost?

A

The price is based on your age, how much cover you want, how long you want it for, and your medical history. Here is how to cut the cost of life insurance.

Q

Do I get any money back if I am still alive at the end of my policy?

A

No, the policy will just stop and you will not be eligible for any money back.

Q

Is life insurance guaranteed to pay out?

A

Only if your cause of death is covered in your policy, and you die during the term of the policy. Here is more on how life insurance works.

Q

Can I still get life insurance if I have poor health?

A

Yes, but you may find it harder to get cover if you have any health issues. Get as many quotes as you can until you get accepted for the cover you want.

Q

Can I have more than one life insurance policy?

A

Yes, but you may find it cheaper to have one policy that gives you the exact cover you need. Use this comparison to get quotes to find the best price.

About our level term life insurance comparison

Q

Who do we include in this comparison?

A

We include level term life insurance available from our panel of insurers. They are regulated by the Financial Conduct Authority (FCA).

Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.