How much life insurance do I need?

There's no fixed rule, but a common guide is 10 times your annual income, plus your outstanding mortgage and debts. Your ideal cover depends on your family, savings and future costs like school fees. A policy advisor can calculate a suitable figure based on your circumstances, not a generic formula.

How much does life insurance cost per month?

Premiums vary by age, health, smoking status and cover amount, but basic life insurance can start from just a few pounds a month for younger, healthier applicants. Older applicants, smokers or those with health conditions usually pay more. A whole of market broker compares providers to find competitive rates, sometimes saving up to 40% on premiums.

What is the difference between life insurance and critical illness cover?

Life insurance pays out when you die. Critical illness cover pays a tax-free lump sum if you're diagnosed with a serious condition, such as cancer or a stroke, while you're still alive. Many people combine both, since you're statistically more likely to be diagnosed with a critical illness before 75 than to die.

Does life insurance cover critical illness?

No, standard life insurance only pays out on death or terminal illness. Critical illness cover is a separate benefit, though some plans include free terminal illness cover alongside standard life cover. To be protected against serious diagnoses like cancer or a heart attack, you need critical illness cover added as an extra, not assumed automatically.

What illnesses does critical illness cover include?

Critical illness cover typically includes cancer, heart attack, stroke and around 100 or more other serious conditions, depending on the provider. Every insurer has a different list and different definitions for the same illness. That's why comparing policies with an independent insurance broker matters, so you don't end up under-covered for a common condition.

Is critical illness cover worth it?

For many people, yes. You're around eight times more likely to be diagnosed with a critical illness than to die before 75, and this cover pays out roughly ten times more often than standard life insurance. It's pricier, though, so speak to a protection adviser about balancing it alongside life insurance and income protection within your budget.

What is income protection insurance and do I need it?

Income protection pays you a regular monthly income if illness or injury stops you working, replacing part of your salary until you recover or retire. It's especially valuable if you're the main earner, have limited savings, or wouldn't cope on statutory sick pay alone. An insurance consultant can assess whether it suits you.

How long do I need to be off work to claim income protection?

Most policies have a deferred, or waiting, period before payments start — commonly around four weeks, though it can range from a few weeks to several months. A longer deferred period usually means lower premiums. Your policy advisor can match the waiting period to your employer's sick pay, so cover kicks in when needed.

Does income protection cover self-employed people?

Yes. Income protection suits the self-employed, freelancers and contractors particularly well, as they usually have no employer sick pay to rely on. Cover replaces part of your income if illness or injury stops you working. An Independent Financial Adviser (IFA) can tailor the deferred period and benefit amount to your self-employed income.

What is mortgage protection insurance (MPPI) and is it required?

Mortgage protection insurance pays out to help cover your mortgage if you die, or in some cases if you can't work due to illness or injury. It is not a legal requirement from lenders, but it's a sensible safeguard for your biggest financial commitment. A mortgage protection broker can advise on suitable, affordable cover.

What's the difference between mortgage life insurance and MPPI?

Mortgage life insurance pays a lump sum to clear your mortgage if you die during the term. MPPI is different — it pays your monthly mortgage payments for a limited period if you're off work through illness, injury or job loss. Many homeowners hold both for complete protection, arranged through a trusted policy broker.

Will mortgage protection insurance pay out if I'm made redundant?

Some MPPI policies cover involuntary redundancy alongside accident and sickness, but not all do, and cover usually lasts only 12 to 24 months per claim. Exclusions often apply if redundancy was known or expected when you took the policy out. Always check the exact terms with your insurance adviser before relying on this cover.

What is an over 50s life insurance plan and is it worth it?

Over 50s plans offer guaranteed acceptance for those aged 50 to 80, with no medical questions or health checks. Cover is usually a smaller fixed amount, often used for funeral costs. It's convenient, but can be poor value compared with a standard, underwritten life or whole of life policy, so compare options with an adviser.

Do over 50s plans have a waiting period before full payout?

Yes, most guaranteed-acceptance over 50s plans have a waiting period, typically one to two years, during which only your premiums (sometimes with interest) are returned if you die of natural causes. Death by accident is usually covered from day one. An insurance broker can point you toward plans with shorter waiting periods.

Is life insurance payout taxable in the UK?

The lump sum itself isn't subject to income tax or capital gains tax. However, if the policy isn't written in trust, the payout can form part of your estate and may be liable for inheritance tax. Writing your policy in trust avoids this and speeds up payment. An adviser can set this up for you.

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I am impressed with the level of service I was offered at Assured Life, they patiently answered all my questions and helped me understand that there’s so much more to life insurance than just a simple death policy.

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I highly recommend Assured Life UK for all your personal insurance requirements, can’t thank them enough for making me realise how important income protection could be as its paying me each month since over 8 months now due to my illness.

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Our Products

Life Insurance

Life insurance quite simply is an assurance or guarantee to pay out a lump sum to your loved ones in the event of your death.

Critical Illness Cover

Critical illness cover is becoming increasingly important with each passing day bearing in mind our current unhealthy lifestyles.

Income Protection

Taking care of your family is a big responsibility to shoulder especially when you’re the only breadwinner in the household.

Over 50's Life Insurance Plan - Guaranteed Acceptance Life Cover

Over 50's Plan

An Over-50s plan is a life insurance policy that is guaranteed to pay out when you pass away irrespective of your age.

Mortgage Protection

Mortgage for most of us is our biggest financial responsibility and it’s therefore very important to have a mortgage protection.

Family Income Benefit

Family income benefit as the name suggest is for your family so if You have dependants, to ensure they’re able to manage financially when you’re gone.

Can You Have More Than One Life Insurance Policy in the UK?

Life insurance is common among people who get married, purchase properties or become financially responsible. It's possible that your situation might change, and one policy won't suit you any more. The key question here is: can you have more than one life insurance policy in

When Should You Get Life Insurance? Don't Buy Too Early or Too Late

Only 28% of UK adults hold a life insurance policy. That figure comes from the

How Much Life Insurance Cover Do I Need in the UK?

Life insurance is designed to give financial assistance to your loved ones should you die

Do I Need Life Insurance if I Have No Dependants?

When you hear the words “life insurance”, your mind probably jumps to images of parents

Solutions: all your questions answered

Life insurance providers generally pay out if the policyholder dies abroad however there’re exclusions, for example, it may not pay out if you’ve moved abroad permanently or you’ve stay abroad more than a certain period of time. Standard policies usually include cover globally, provided the policy was initially taken out as a UK resident. For more details please contact us on 02039834078.

The short answer is Yes. Every provider in the UK today would be happy to cover you even if you have diabetes. However, it won’t be a straight forward cover and you may not get standard rates. The cost of your cover will depend on a number of factors, including (but not limited to) the type of diabetes you have, how well it is controlled, how it is managed, your age, smoking status, body mass index (BMI), any other medical conditions, etc. There’re other factors too, and because every insurer assesses diabetes differently and therefore their rates vary so much, one of our FCA-authorised advisers (in our panel) can discuss your circumstances and help you determine which provider is most suitable for your individual needs and circumstances.

Generally a medical examination is not required as long the cover you’re after falls within standard underwriting limits or, in simpler terms, within the usual range of cover. For someone below 60 and with no prior medical conditions, there’s only going to be a standard medical questionnaire with some additional questions if you’re above 50 but you can generally get up to £500k worth of cover without the need for a medical examination. Underwriting requirements can vary depending on factors such as your age, health, lifestyle and the amount of cover requested. In some cases, additional medical information may be required. Insurers often have non-medical underwriting limits (sometimes called free cover limits or medical evidence limits). These limits are usually lower for older applicants.
So a younger person might be able to obtain a larger amount of cover before medical evidence is required, whereas an older person may need medical evidence at a lower cover amount. So for someone above the age of 65 should be ok to get anywhere up to £100k without the need for medicals.

Yes, you can cancel your policy whenever you like. It’s not a contract and as such there’re no penalties.

It depends on your individual circumstances, preferences, your financial obligations, for e.g. a mortgage, loans, etc. Everyone’s situation is different, for e.g. 2 individuals of the same age can have totally opposite circumstances, and just because your friend or neighbour has a certain amount of cover doesn’t mean you’ll need the exact same cover, that’s why life insurance isn’t a one-size-fits-all product. It’s tailored to your individual needs. It’s best to speak to an FCA-authorised adviser who’s licensed to give protection advice so he or she can understand your circumstances and guide you accordingly.

You don’t need to amend your life insurance just because you’ve had a change of job unless you want to. This again would depend on the following 2 factors – A. your income has changed and as such you’d like to alter the cover to either go for more or less depending upon your affordability, B. your new job doesn’t offer you any extra cover like death-in-service benefit or sick pay and you’d like to have some sort of income support should you become sick.

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