Which Life Insurance is Best in UK: Top Picks for 2023

Which Life Insurance is Best in the UK? | A Comprehensive Guide

When it comes to securing the financial future of your loved ones, choosing the right life insurance is a pivotal step. With a multitude of life insurance policies available in the UK, it can be overwhelming to determine which one is the best fit for you. In this guide, we’ll explore different life insurance options to help you make an informed decision.

Types of Life Insurance

Before we discuss which life insurance is the best, it’s important to understand the different types available in the UK:

  • Term Life Insurance: This policy covers you for a specified term, paying out a death benefit if you die during this period.
  • Whole Life Insurance: Offers lifelong coverage, combining a death benefit with a savings component.
  • Decreasing Term Insurance: The death benefit decreases over time, typically aligned with the balance of a mortgage.
  • Over 50s Plans: These policies do not require a medical exam and guarantee acceptance for those over a certain age.
  • Joint Life Insurance: Covers two people, with a payout upon the first death within the term.

Choosing the best life insurance depends on your personal circumstances and financial goals. Let’s explore some of the top life insurance providers in the UK and their offerings.

Insurance Provider Type of Insurance Key Features Premiums Starting From
Legal & General Term, Whole, Decreasing Flexible cover options, fixed premiums, terminal illness cover included £6/month
Aviva Term, Whole, Over 50s Free cover for parents, up to £15,000 for children’s cover, option to increase cover over time £7/month
Vitality Term, Whole Discounts on premiums for healthy living, global treatment cover available £8/month
Zurich Term, Whole, Joint Optional critical illness cover, multi-policy discounts £10/month

How to Choose the Best Life Insurance

When selecting life insurance, consider the following factors:

  1. Your financial obligations and how much cover you realistically need
  2. The duration you require the cover for
  3. Whether your financial responsibilities are likely to increase or decrease over time
  4. Any lifestyle factors that may affect premiums
  5. Additional benefits like critical illness cover

Factors Influencing Life Insurance Premiums

Your life insurance premiums are affected by various factors:

  • Age: The younger you are when you take out the policy, the cheaper your premiums may be.
  • Health: Pre-existing conditions or a poor health history can increase your premiums.
  • Lifestyle: Smoking or high-risk hobbies can have an impact on your premium costs.
  • Length of Policy: Longer terms usually mean higher premiums.
  • Sum Insured: The amount of coverage you choose will directly affect your premium.

Frequently Asked Questions Of Which Life Insurance Is Best In Uk: Top Picks For 2023

What Factors Determine The Best Life Insurance?

Selecting the best life insurance often depends on individual needs, age, health, budget, and financial goals.

How Does Term Life Insurance Operate?

Term life insurance provides coverage for a specified period, paying a benefit only if the insured passes away during the term.

Is Whole Life Insurance A Good Investment?

Whole life insurance can be a good investment for those seeking a permanent coverage option with a savings component.

Can You Change Life Insurance Beneficiaries?

Yes, life insurance policies typically allow you to change beneficiaries at any time, keeping the policy flexible.


The “best” life insurance in the UK is subjective and varies according to individual needs. It’s advisable to thoroughly compare policies, consider your personal circumstances, and consult with a financial advisor if necessary. Life insurance, while potentially a financial burden, offers invaluable peace of mind in protecting your loved ones.

Use comparison tools, read customer reviews, and always read the terms and conditions carefully before committing to a policy. With the right policy in place, you can ensure that you’re taking a meaningful step in planning for your family’s future.

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