Life insurance: Something solid for the people who rely on you.
Level term, decreasing term and whole-of-life cover, from advisers who'll explain the difference without the hard sell.
- Term and whole-of-life
- Mortgage and family cover
- No obligation
What life insurance can cover
Life cover is simple once someone explains the main kinds. The advisers we work with do exactly that.
- Level term
- Decreasing term (mortgage)
- Whole of life
- Family income benefit
- Critical illness add-ons
- Joint policies
What are the main types of life insurance?
There are four common kinds. Level term pays a fixed sum if you die within a set number of years. Decreasing term pays a sum that falls over time. Whole of life pays out whenever you die, as long as premiums are paid. Family income benefit pays a regular income instead of one lump sum.
| Type | How long it lasts | What it pays |
|---|---|---|
| Level term | A set term | A fixed lump sum |
| Decreasing term | A set term | A lump sum that reduces over the term |
| Whole of life | The rest of your life | A lump sum |
| Family income benefit | A set term | A regular income until the term ends |
Term policies only pay out if you die during the term. If you outlive it, the cover ends and nothing is paid. Decreasing term is often used alongside a repayment mortgage, because the amount owed falls over time too.
Do I need life insurance?
Life insurance is not a legal requirement. People usually look at it when someone else relies on them: a partner, children, or a mortgage that would need paying. Kompare doesn't give advice. The advisers who call you will ask about your situation and explain which kinds of cover might fit.
What affects the cost of life insurance?
Insurers look at your age, your health and medical history, whether you smoke, your job and hobbies, how much cover you want and for how long. The type of policy matters too, and adding critical illness cover changes the price. Joint and single policies are priced differently.
- Age when the policy starts.
- Health, medical history and family history.
- Smoking and nicotine use.
- Occupation and hobbies that carry more risk.
- The amount of cover, the length of the term and the type of policy.
What is writing a life policy in trust?
Putting a policy in trust means the payout goes to people you choose, managed by trustees, rather than forming part of your estate. It can mean money reaches your family without waiting for probate, and it can have inheritance tax implications. Ask the adviser to explain how it would work for you.
Why must I answer the health questions honestly?
The insurer prices and accepts the policy on what you tell it. If something relevant is left out or answered wrongly, a claim could be reduced or not paid at all, which is exactly when your family needs it. Answer every question fully and ask the adviser if a question is unclear.
Life insurance questions
What happens after I submit?
Your details go to specialist brokers who deal with life insurance every day. One of them will call you to run through your options and quotes.
Is there any obligation?
None. You can take a quote, ask for changes, or walk away. Nothing is bought until you say so.
Who are the brokers?
UK-based insurance brokers authorised and regulated by the Financial Conduct Authority. Kompare Limited (FCA reference 794660) is an appointed representative of Rainbow Connected Limited (FRN 749881).
How long does it take?
The form takes about two minutes. Brokers usually call back during working hours.
Will I need a medical?
Usually not for standard cover. Some insurers ask for one depending on age, health and the amount of cover.
What is critical illness cover?
It pays a lump sum if you are diagnosed with one of the serious illnesses listed in the policy. It is often added to a term policy. The list of conditions and the definitions vary between insurers.
Should I get a joint or single policy?
A joint policy covers two people and usually pays out once, on the first death. Two single policies can each pay out. The adviser will explain the difference for your situation.
Does a smoker pay more for life insurance?
Insurers treat smoking and nicotine use as a risk factor, so it affects the price. Declare it honestly, including vaping, if you are asked.
Can I get life insurance with a health condition?
Often, yes. Some conditions affect the price or terms. Tell the adviser about them so they can look for insurers who will consider your circumstances.
Is Kompare giving me advice?
No. Kompare passes your details to specialist advisers. They talk you through the options and any advice comes from them.
Written and checked by the Kompare team · Last updated October 2026
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