Personal Protection/Life Insurance

Life insurance that gives your family real security

If something happened to you, could your family keep up with everyday costs? The right life insurance means they wouldn't have to worry.

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Life insurance pays out a lump sum (or income) to the people who depend on you if you pass away. It's for anyone with a partner, children, a business or debts — not just homeowners. We'll match you with a specialist adviser who finds the right cover for your circumstances.

Who is life insurance for?

Life insurance is for anyone who has people depending on them financially — parents, partners where one earns more, homeowners, and business owners with commitments. If someone would struggle financially without your income, it should be a priority.

Types of life insurance your adviser can arrange

Term life insurance — covers you for a set period (e.g. 25 years); pays a lump sum if you die during the term.
Whole of life insurance — covers you for life, with a guaranteed payout whenever you pass away.
Joint life insurance — covers two people under one policy, often used by couples.
Family income benefit — pays a regular monthly income to your family instead of a lump sum.

What you might need to hand

Details of your income and dependants
Any outstanding debts (including a mortgage)
Details of any existing cover
Information about your health

Frequently asked questions

How much life insurance do I need?

It depends on your debts, income, dependants and the lifestyle you'd want to leave your family. An adviser will help you work out a suitable level of cover — there's no obligation.

What's the difference between level and decreasing cover?

Level term cover pays out the same amount throughout the policy. Decreasing term cover reduces over time and is often used alongside a repayment loan or mortgage.

Can I get life insurance with a health condition?

Yes — many people with pre-existing conditions can get cover. Premiums may be higher or exclusions may apply, but specialist providers exist and an adviser can search the market for you.

Is the payout taxed?

Life insurance payouts are generally not subject to income or capital gains tax. They may form part of your estate for inheritance tax — writing the policy in trust can help. Your adviser can explain.

Related cover

Related guides

Writing Life Insurance in Trust — How & Why
Putting a policy in trust keeps the payout out of your estate, speeds up payment and avoids probate. How trusts work and when to use one.
Inheritance Tax Explained
How UK inheritance tax works: the nil-rate bands, the 40% rate, spousal exemption, gifting rules, and how protection can cover the bill.
Inheritance Tax & Gifting
How lifetime gifts cut your inheritance tax — the seven-year rule, taper relief and exemptions — and how a broker uses gift inter vivos cover and trusts to protect your gifts.

Do insurers actually pay out?

The most common reason people give for not taking cover is a belief that claims get refused. The industry publishes the figures, and they say otherwise.

97.9%

of individual protection claims were paid

Across life, critical illness and income protection.

258,000

individual claims paid in the year

£5.15bn

paid on individual policies

Life, critical illness and income protection combined.

£19,300

average individual claim

Up 2% on the previous year.

Source: Association of British Insurers, 2025 claims, published 2026. Industry-wide figures; an individual claim depends on the policy terms and the information given when it was taken out.

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