Compare life insurance quotes

You may need life insurance if someone depends on you financially. This could be a partner, children, or anyone who would struggle to pay the mortgage, bills, debts or everyday costs if you were no longer around.

Life insurance is often worth considering if you have children, a shared mortgage, a partner who relies on your income, or debts that could affect someone else. It can provide a lump sum to help your loved ones stay financially secure after your death.

You may not need life insurance if nobody depends on your income, you have no major debts, or you already have enough savings or employer cover to protect your family. Life insurance is not a legal requirement for a mortgage in the UK, although some lenders may  ask for it as part of their own conditions.

Good to know: Surely can help you compare life insurance options based on your needs, budget and personal circumstances. The right amount of cover depends on what you want the payout to help with, not just the cheapest monthly price.

The right amount of life cover depends on what you want the payout to help with. There is no single correct number, because every family’s finances are different.

A simple way to work it out is to add up the main costs your loved ones may need help with, then subtract any savings or existing cover you already have. MoneyHelper says the amount of cover you need can depend on your debts, mortgage or rent, number of dependants and income.

You may want to include:

• Your mortgage or rent
• Outstanding debts
• Day-to-day living costs
• Childcare or education costs
• Funeral costs
• A few years of income replacement
• Any existing savings or employer death-in-service cover

The Surely life insurance calculator can help you determine the amount of cover you might need based on your circumstances.

Good to know: choosing too little cover could leave your family short, but choosing too much could mean paying more than you need. Surely can help you compare life insurance options based on the amount of cover that suits your needs and budget.

Yes, you can usually cancel a life insurance policy, but changing it depends on your insurer and the type of policy you have.

Most life insurance policies come with a 30-day cooling-off period. If you cancel during this time, you should usually get back any premiums you have paid, although the insurer may deduct a small amount for the days you were covered.

After the cooling-off period, you can still usually cancel, but you may not get back the premiums you have already paid. MoneyHelper says there are usually no cancellation fees for life insurance, but you should always check your policy terms first.

You may also be able to change parts of your policy, such as your cover amount, policy term or beneficiaries, but this depends on the insurer. Some changes may require new health questions or a new application.

Good to know: if you are replacing an existing policy, do not cancel it until your new cover is in place. This can help avoid a gap where your loved ones are not protected. Aviva gives the same guidance when switching life insurance policies.

The main types of life insurance are term life insurance, decreasing life insurance, whole of life insurance, joint life insurance and over-50s life insurance.

Term life insurance covers you for a set number of years and can pay out if you die during that time.

Decreasing life insurance is often used to help protect a repayment mortgage, because the payout usually reduces over time.

Whole of life insurance can cover you for the rest of your life, as long as the policy stays active and premiums are paid.

You can also choose joint life insurance, which covers two people under one policy and usually pays out once, or over-50s life insurance, which is designed for people aged 50 and over.

Good to know: the right type of life insurance depends on what you want to protect, such as your mortgage, your income, your children, or your partner’s financial security. Surely can help you compare options from a wide range of providers.

Life insurance usually pays out if you die while your policy is active and a valid claim is made. The money is usually paid as a lump sum to your loved ones or chosen beneficiaries.

A claim may depend on the type of policy you have, whether your monthly payments were up to date, and whether the information given when you applied was accurate. Some policies may also include critical illness cover, which could pay out early if you are diagnosed with a terminal illness that meets the policy terms.

Most life insurance claims are paid. ABI figures show that UK insurers paid 96.5% of new life insurance claims in 2024, with an average payout of £79,703.

Good to know: life insurance may not pay out if the policy has ended, payments were missed, exclusions apply, or important information was missing or incorrect when you applied. Surely helps you compare policies, but you should always read the policy terms before buying.

The right amount of life insurance cover depends on what you want the payout to help with. For some people, that means covering a mortgage. For others, it means helping with household bills, childcare, debts, funeral costs or replacing income for a number of years.

A simple way to estimate your cover is:

Mortgage + debts + family living costs + childcare/education + funeral costs – savings or existing cover = possible cover amount

MoneyHelper says the amount of life cover you may need can depend on things like your mortgage or rent, debts, number of dependants and income. It also suggests thinking about whether you already have savings or workplace benefits that could support your family. Use the Surely calculator.

Good to know: choosing too little cover could leave your family short, but choosing too much could mean paying more each month than you need to. Surely can help you compare life insurance options based on your cover amount, policy term and personal circumstances.

Most valid life insurance claims are paid. According to the Association of British Insurers, UK insurers paid 96.5% of new life insurance claims in 2024, with an average payout of £79,703.

A claim can still be rejected if the insurer believes the policy terms have not been met. This may happen if:

• monthly payments were missed
• the policy had already ended
• an exclusion applies
• important health, lifestyle or medical information was missing or incorrect when the policy was taken out

Surely’s view: a rejected claim does not always mean the matter is finished. Your loved ones should ask the insurer for a clear explanation, check the policy documents, and provide any missing information if something has been misunderstood.

If they still disagree, they can make a formal complaint to the insurer. If the complaint is not resolved, they may be able to escalate it to the Financial Ombudsman Service.

The best way to reduce the risk of claim problems is to answer all application questions honestly, keep payments up to date, and read the policy terms before buying.