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Life Insurance for Parents

Life Insurance for Parents

Life Insurance from £4.46pm[1]

  • Parent-focused life insurance, explained simply—no guesswork
  • Protect your family’s future if the worst happens
  • Get the most suitable cover for your budget in minutes

WHAT IS LIFE INSURANCE?

Life insurance is a policy that pays a lump sum if you die. You pay monthly premiums for cover, and the payout is made if you die during the policy term — or, with some policies, if you’re diagnosed with a terminal illness and expected to live less than 12 months.

WHY IS LIFE INSURANCE IMPORTANT?

PAY OFF YOUR MORTGAGE & DEBTS

Preparation for the unexpected

Future Support for your family

Buying a house or remortgaging?

Moving lenders or increasing your loan changes the risk on your household budget. Ask yourself whether your family could manage repayments without your income.

Get your life insurance quote

HOW DOES LIFE INSURANCE WORK?

Application

Begin by submitting personal details like age, health, and lifestyle. Insurers will use this data to assess your risk level and determine your coverage eligibility.

Pick a Policy

Choose a policy that fits your needs, understanding its terms and the required premium payments. Ensure you make these payments regularly to keep the policy active.

Payout & Claim

In the event of your passing within the policy's term, your designated loves ones will file a claim. Once verified, they'll receive the designated lump-sum payment.

INSURERS PAID A RECORD £8BN IN PROTECTION CLAIMS IN 2024

According to the latest figures from the Association of British Insurers (ABI) and Group Risk Development (GRiD), insurers paid a record £8bn in protection claims in 2024. That's around £21.9 million paid out every day - with 96.9% of new protection claims paid across individual and group policies.
Source: Association of British Insurers (ABI)

DO I NEED LIFE INSURANCE?

While life insurance isn't mandatory, it can offer peace of mind by ensuring your loved ones are financially secure in your absence.

You have family members or a partner dependent on your income.

You're managing debts like mortgages, credit cards, or loans that might burden your family if left unpaid.

You wish to cover funeral expenses, alleviating financial stress during a difficult time.

You want to leave a financial legacy or support for future educational needs of your children or grandchildren.

why choose coverme123?

Quick, Hassle-Free Process
We keep the steps simple and do the heavy lifting so sorting cover is stress-free.
Free, No-Obligation Service
Get expert help and quotes for free—only proceed if it’s right for you.
Direct Adviser Support
Speak with a professional adviser who explains your options in plain English.
Fast Response Times
Get answers and quotes quickly so your family can be protected sooner.
Personalised Quotes
We tailor recommendations to your family, budget, and priorities.
We Compare for You
We scan leading insurers and show the best-fit policies in minutes.

WHAT DOES LIFE INSURANCE COVER?

Know what your life insurance includes so you're sure your family gets the money they need

Different policies offer different things, but some items are always included or left out:
What's usually covered? What's not usually covered?
Most common causes of death Pre-agreed conditions
Terminal illness Drug and alcohol abuse
Self-harm within 12-months of policy start date
Dangerous activities
Critical illness or injury
Disabilities or chronic illnesses
Undisclosed health issues

New baby or adoption?

Big life change, bigger responsibilities. Make a simple plan for the years they’ll depend on you in case life takes an unexpected turn.

Get your life insurance quote

WHAT ARE THE MAIN TYPES OF LIFE INSURANCE COVER?

Level Cover

The coverage amount remains constant throughout the policy's duration. Whether you pass away early on or towards the end of the term, your loved ones will receive the predetermined full amount.
Advantages
  • You know how much your loved ones will receive
  • Your premiums stay the same over time
Disadvantages
  • Premiums don't account for inflation
  • Typically more expensive premiums

Increasing Cover

The amount rises yearly with inflation, based on the retail price index, but won't exceed £20 million. This ensures your coverage keeps pace with the cost of living, offering consistent protection value over time.
Advantages
  • Cover amount rises, countering inflation effects
  • Can match growing financial responsibilities
Disadvantages
  • Initial premiums might be higher than level term cover
  • Increases might be capped or limited by the policy

Decreasing Cover

The amount you're covered for goes down on a monthly basis, consistent with the capital amount outstanding on a repayment mortgage paying interest at 5% a year.
Advantages
  • Premiums typically lower than level term cover
  • Suited for decreasing liabilities like mortgages
Disadvantages
  • Cover amount reduces over time
  • May not be sufficient for other long-term needs

Family Benefit Cover

The amount you're covered for will be paid as monthly income, ensuring consistent financial support during the coverage period.
Advantages
  • Provides regular monthly payouts
  • Can mimic lost monthly income
Disadvantages
  • Total payout might be less than lump sum covers
  • Premiums can be higher than traditional term covers

AM I ELIGIBLE FOR LIFE INSURANCE?

If you live in the UK and are between the ages of 18 and 65, you're on the right track.

Also, you'll need to provide truthful answers to a few queries
1
Health
This takes into accountany existing health issues, along with measurements like your height and weight.
2
Age and Occupation
Younger individuals often get cheaper policies, and the risk associated with your job affects the cost.
3
Lifestyle
Factors such as smoking, drinking, and exercise habits play a role.

HOW MUCH DOES LIFE INSURANCE COST?

Life insurance monthly premiums vary based on individual details and chosen policy options. When determining the cost of your policy, insurance providers take into account several factors.
  • Tick

    The amount of cover

    Higher coverage results in increased monthly fees. Additionally, extending the policy's duration raises the overall cost.

  • Tick

    Your age

    As you age, life insurance premiums tend to increase. This is because older individuals often face higher health risks.

  • Tick

    Your health and lifestyle

    Your daily habits, especially smoking or drinking, directly affect insurance costs. Making healthier choices can lead to more affordable rates.

  • Tick

    The policy type

    Increasing cover policies generally come with higher premiums than level term. However, level term policies are typically more expensive than decreasing term ones.

The amount of life insurance you need varies based on your personal and financial situation. Check out our life insurance form to get a tailored quote that fits your needs.

Term life insurance covers you for a specific period, while whole life insurance covers you for your entire life. See which suits you the most by visiting our life insurance form

Life insurance can be very affordable, depending on the type and amount of coverage. Get a personalised quote by filling out our life insurance form

It's generally wise to get life insurance sooner rather than later. Find out the most suitable options for your stage in life through our life insurance form

Yes, there are options for people with various health backgrounds. Discover what’s available for you by completing our life insurance form

Life insurance can cover a range of financial needs after you're gone, like debts and living expenses for your family. Explore your coverage options on our life insurance form

Life insurance is a key part of planning for your family's future. If something happens to you, it ensures they have financial support. This can help cover daily living costs, pay off debts, or even fund your children’s education. Fill out our life insurance form to get a quote.

Choosing a beneficiary is an important decision. It should be someone who would need financial support after your passing, like a spouse, children, or other family members. Consider their future financial needs and how the policy can best support them.

Yes, smokers can get life insurance, though rates may differ. Get a quote for you by filling in our life insurance form

Missing a payment can have implications for your policy. For specific information on this, please talk to a financial adviser.
Critical-illness-guide

What type of life insurance is right for me?

Finding the right life insurance for you.
What is life insurance?

How does life insurance work?

Understanding the ins and outs of life insurance.
Death in service

Is life insurance right for me?

See if choosing life insurance is right for you.
Taxes

What is life insurance?

We explain what life insurance is.

HOW COVERME123 WORKS

At CoverMe123, we are dedicated to connecting you with our partnered expert adviser for your insurance needs. Our role is to bridge the gap between you and the experts, ensuring a smooth and efficient process. It's important to note that while we do not provide financial advice ourselves, we excel in guiding you to those who do. Here’s how our process works:

  1. Information Gathering: Fill out our online form with the details of the insurance you're seeking.
  2. Secure Handling of Your Data: We ensure the confidentiality of your information, using it solely to connect you with our partnered adviser.
  3. Connecting You with Adviser: Your information is passed on to our partnered adviser, who will then reach out to you for a detailed discussion.
  4. No Obligation Consultation: You are free to the policy that best suits your needs, without any obligation.

GET A QUOTE THAT'S RIGHT FOR YOU

DROP US A MESSAGE

Call Us On 020 3835 2717
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[1]*£4.46 per month life insurance quoted rates are based on a 10-year fixed term for a non-smoking 30-year-old-male and are subject to individual status. Rates may vary depending on individual circumstances.

Who would you like cover for?

Did you know? UK insurers have successfully paid out on 98.3% of individual protection claims, amounting to £7.34 billion in support for families and individuals. This shows that when you choose protection, you're in very trusted hands.[1]

What type of cover do you need?

Around 20 million UK adults have already chosen life insurance to protect their families.[2]

Have you smoked or used nicotine in the last 12 months?

Great news for non‑smokers: industry data shows that non‑smokers can benefit from lower premiums than those who smoke. And if you do smoke, don’t worry—we will still find you the most suitable rates based on your answers.[3]

How much cover would you like?

A common guideline suggests securing coverage equal to 10 times the highest earner's annual salary. This approach aims to replace lost income and maintain your family's standard of living.[4]

How long would you like cover for?

If you have a mortgage, consider setting your policy term to match the length of your loan and think about how long your dependents will rely on your income[5]

Do you consent to us sharing your data to receive your quote?

We adhere to strict data protection standards, ensuring that any information you provide is securely handled and used solely to generate the most accurate and timely quote possible. This commitment to privacy helps improve both the speed and quality of service you receive.

We treat your information according to COVERME123's terms and conditions and privacy policy.

Please check all of the boxes to continue

What's your name?

Providing your name allows us to tailor your quote specifically to your needs. Personalised quotes have been shown to increase satisfaction by ensuring your cover matches your unique circumstances.

Your title:
Your first name:
Your surname:

Please select a title and enter only letters for first and surname.

What's your date of birth?

No matter your age, life insurance is a crucial part of financial planning. It helps safeguard your loved ones from potential financial challenges, giving you and your family lasting peace of mind.

Please select a valid Day, Month, and Year.

What's your email address?

A valid email address ensures prompt and secure communication so you may receive personalised quote. Digital communication channels have been shown to reduce processing times by up to 50%, helping you get the information you need quickly and efficiently.

Your Email Address:
Please enter a valid email address (e.g. [email protected]).

What's your mobile number?

Verifying and providing your mobile number allows us to improve our communication times by as much as 60% compared to other methods, ensuring you have a smoother experience while you’re securing your future.

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