Family Life Insurance
Family life insurance will pay your loved ones a lump sum of money in the event of your death. With ActiveQuote, it is easy to compare family life insurance quotes from leading insurers to find the best family life cover within your budget. Our comparison system offers a range of family life insurance policies in less than two minutes, and you can even buy your chosen quote online.
Why choose Family Life Insurance?
Family life insurance will give you peace of mind that your loved ones are left financially secure if you were to pass away. There are two main reasons why people choose to take out family life cover:
- To meet lifestyle costs like school and university fees
- To pay off outstanding debts like a mortgage
Family life insurance UK policies can also be taken out for a stay-at-home mother/ father to cover replacement childcare costs.
If you are single with no dependents, family life cover may not be a necessity at this stage of your life. Instead, you could consider investing in an income protection policy, which will replace part of your income if you cannot work because of an accident or sickness.
Finding the best Family Life Insurance Quotes
When you compare family life insurance quotes online you will be able to choose the type of plan that you want to buy depending on your individual circumstances.
Family term life insurance
A family term life insurance policy will cover you until a specific date in the future. For instance, your family life insurance UK policy could cover you until your children reach the age of 18, or until the mortgage is due to be paid off. With family term life insurance, your insurer will only pay out if you die before the specified date. If you live for longer than this, your family life cover will not pay out or refund your premiums.
There are two types of family term life insurance: level term and decreasing term. With level term family life insurance plans the lump sum remains the same. With decreasing term family life insurance plans the lump sum will reduce over time, usually alongside a repayment mortgage.
Whole of life insurance
Unlike family term life insurance, a whole of life policy will cover you until the day you die, whenever that may be. Because the insurer is guaranteed to have to pay out eventually, whole of life insurance plans are generally more expensive.
Joint or single family life insurance
If you and your partner are both considering family life insurance, you may decide to look at joint family life insurance quotes instead of two separate policies. However, this may not be the right decision long-term.
A joint family life insurance quote will cover two people, but the insurer will only pay out when the first person dies. At this point, the policy will end and the surviving person would be left without cover. For this reason, many couples choose to look for two separate family life insurance quotes. Two single policies will pay out twice, and may not be much more expensive.
Features to look for in Family Life Cover
The best family life insurance UK policies offer extra features to give you additional financial and emotional security. These can include:
- Critical illness insurance: Pays out a lump sum of money if you are diagnosed with a predefined critical condition. Critical illness cover can be bought by itself or alongside your family life insurance policy. For more information look at our page on critical illness cover.
- Best doctors: A service offering a second medical opinion from a leading consultant for free.
- Helplines: Access to 24 hour helplines, including free counselling and medical support.
- Waiver premium: A waiver of premium option will enable you to stop paying your family life cover premiums if you are unable to work due to incapacity caused by illness or injury.
Compare Family Life Insurance quotes
There are many different types of family life insurance on the market, so before you buy family life cover it is essential that you compare quotes to make sure you are getting the best family life insurance at the right price. Benefits of using ActiveQuote to compare family life insurance quotes include:
- Compare over 10 leading family life cover providers online, including Legal & General, LV and Aviva
- Tailor your family life insurance quotes
- Add critical illness cover
- Buy your chosen family life cover quote instantly
Compare family life insurance quotes with ActiveQuote online now.