Compare guaranteed life insurance

Guaranteed life insurance helps you plan ahead for those you leave behind. Compare quotes for policies that could pay out a lump sum to take care of loved ones.

  • Compare deals from trusted insurers
  • Get a free, no-obligation quote in under five minutes
  • Several types of life insurance can give your family financial protection
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Compare life insurance quotes from over eight UK Life Insurance companies

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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How to get a guaranteed life insurance quote

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 a life insurance policy?

Life insurance pays out money to your beneficiaries if you die during the term covered by your policy.

You can apply for most life insurance policies as soon as you turn 18, but some providers may have more strict age restrictions.

What is a guaranteed life insurance policy?

Guaranteed life insurance gives you the option to increase your policy’s payout later in life.

This is called guaranteed insurability. If you opt to use it, you won’t need to provide your medical history or details again.

Find out more information about life insurance

When can I increase my life insurance cover?

You can only increase your payout at specific times, which vary depending on the insurer you choose. Usually these are life events, such as:

  • changing job, getting a promotion or retiring

  • getting married or divorced

  • becoming a parent

  • moving home

  • receiving a cash gift or inheritance

Most insurers only allow you to change your payout a set number of times and set limits on the amount to which you can increase it.

Warning: increasing your payout will also increase your monthly premiums.

How do I find the best guaranteed life insurance policy?

Compare as many policies as possible to find the one that benefits your family in the best way. You need to consider:

  • how much the policy will pay out

  • whether the money will be paid as a lump sum or regular income

  • how long the policy term lasts

  • who gets the payout when you die

Which policies come with guaranteed insurability?

Depending on the insurer, you could add guaranteed insurability to the following types of life insurance:

  • Level term: choose a set payout and pay premiums for a fixed term

  • Decreasing term: choose a payout that reduces each month until the end of a fixed term

  • Whole-of-life: choose a set payout that pays out whenever you die, with no fixed term

Work out which life insurance policy is right for you

What kind of payout do I need?

There are two types of payout, depending on the type of policy you choose:

  • A lump sum: can help pay off your mortgage or other financial commitments, give loved ones a cash sum to help with living expenses, or just as a gift

  • An income: can help your beneficiaries pay regular bills like mortgage repayments or rent. However, the income usually stops at the end of the policy's term

Lump-sum payments are only available with whole-of-life or over-50s life insurance policies, but both options exist with level or decreasing term policies.

Which kind of payout is best?

It’s hard to say as it depends on your financial situation, your family and what remains on your policy when you die. 

It’s not something you can predict, but if you happen to die early in an income policy’s term, your family will benefit from it for a long time. If you die later, they may get a lot less.

However, if you choose a lump sum, they get the entire payout as one payment, potentially offering them more in return for your premiums.

Who can claim?

Anyone can make a claim on a life insurance policy, but to be entitled to the payout, they must be named as a beneficiary on the policy.

Usually, it’s the people closest to the person who dies who deal with any financial matters. If there are no surviving family members, it might be a close friend who starts the claim.

If you need to start a claim, find out which insurance company holds the life insurance policy, and then call them.

Life insurance companies don’t generally outline a timescale, meaning you can start a claim after a few weeks or even longer if you need the time.

When you call to make a claim, the insurer will usually have trained staff to deal with your situation sympathetically, making it easier to start a claim soon after the policy holder’s death.

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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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We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

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Last updated: 7 May 2022