Family life insurance

Compare life insurance quotes for policies that could protect your whole family on a single family life insurance policy so you are all covered if something happens.

  • Choose optional extras
  • Find a policy that suits you and your family
  • Get a personalised quote for life insurance in under 5 minutes
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How to get a family life insurance quotes

1

Compare our best Life insurance deals

Put in your details to compare policies, then choose the deal from our results table that best suits your lifestyle and the needs of you or your family.

2

Fill in an application form from your chosen provider

Fill out the quote form with your chosen life insurance provider. This will include things like your personal information, any existing health conditions and your medical history.

3

Adjust for the level of cover you need

Tell your provider how much cover you will need. The cheapest policy will not always be the best, so start by adding in or removing any optional extras you think are important.

4

Wait for your results to see if you're accepted

Your life insurance will start after the application is accepted, or select an alternative provider to compare quotes if rejected.

What is family life insurance?

Family life insurance is a special kind of life insurance that pays out a lump sum if you die and also provides cover for your children up to a specified age.

The payout for yourself is usually much higher than that for your child.

How does family insurance work?

You pay monthly premiums to the insurer. In return, you get a life insurance policy that pays out a pre-agreed lump sum if you die during the term of the policy. Some insurers also let you add cover for your children, which converts it into a family insurance policy.

Here’s help choosing the best life insurance for you.

How to choose the best family life insurance

To make a choice you need to:

  • Choose a payout amount. This is the lump sum paid if you die during the term of the policy. The higher the payout, the higher your premiums are likely to be, so only get the cover you need

  • Decide the term of the policy. The longer the period you choose, the longer you’ll pay premiums. Most policies have age restrictions, so your options become more limited as you get older

  • Consider your child's age. You can add your child to a family life insurance policy, but there is an upper age limit zhut

  • Think about the kind of insurance you want. Find out more about the types of policy below

Once you know what you want from your policy, you can get quotes from providers.

Find out how to cut the cost of your life insurance.

Which is the best family life insurance for me?

There are three types of family life insurance:

Level-term: Pays the same lump sum, regardless of when you pass away during the policy’s term

Decreasing term: The size of the payout reduces gradually. This works well if you’re taking out a policy to cover a mortgage, which also decreases over time

Whole of life: Guaranteed to pay out when you die, regardless of when that happens. This is the most expensive type of life insurance. Also called life assurance

When it comes to family life insurance, is it best to add children to a single policy or joint policy?

You can add children to either type of policy.

A single life insurance policy covers just one adult. You must name a beneficiary.

A joint policy covers two people in a relationship and can be cheaper than two single policies. It pays out to one person on the policy when the other passes away. However, it only pays out only on the first death.

When to review your family life insurance

Review your policy if you have more children. You may want to add them to the policy or increase the pay-out sum.

You should also review your policy to arrange a bigger payout if your mortgage increases.

Are there any alternatives to family insurance?

Yes. Family income benefit insurance will provide a monthly amount to replace a lost salary until the policy term ends.

Family critical illness cover can be taken out in addition to family life insurance. It pays out if you – or a family member – is diagnosed with a critical illness during your policy term. Be aware that it doesn’t pay out again if you pass away.

Joel Kempsonquotation mark
Family insurance can provide financial support if you take time off work to grieve. It can also give you peace of mind that your family will have the money it needs if you pass away.
Joel Kempson, Life Insurance Expert

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Why compare Life insurance with money.co.uk?

By comparing life insurance, you could save money on the policy. The best value life insurance will offer the cover to you and your family. Choose a life cover plan from one of the best UK life insurance companies and see the online discounts they offer.

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Last updated: 20 May, 2022