Written by Mark Langshaw Reviewed by Lee Trett
24 January 2026
Hub page introduction, criteria and FAQs added
12 December 2024
First Published
A quick overview of life insurance
Life insurance is a type of protection cover that provides a lump sum or regular payments for your loved ones to support them financially when you pass away.
You can read more about how it works in our complete guide to life insurance.
Key features of life insurance
Here is a rundown of the key components of life insurance and the rules around it:
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Can be taken out as a solo or joint policy
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Policyholders pay a monthly premium while the plan is active
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Payouts can either be a lump sum or monthly instalments
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Can be taken out as standalone life cover or join with other types of protection
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Most policies have exclusions (causes of death they won’t pay out for) such as suicide with in the first 12 months of the agreement
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Factor |
Impact & Key Insurer Checks |
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Health & BMI |
Insurers check weight and medical history. Issues can lead to higher premiums or specific exclusions. |
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Smoking & Vaping |
Any nicotine use in the last 12 months classifies you as a "smoker," often doubling the cost. |
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Occupation |
High-risk jobs (e.g., offshore, heights, military) may require specialist cover or price increases. |
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Hobbies |
Dangerous sports (e.g., skydiving, racing) may be excluded from valid claims. |
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Lifestyle |
Heavy alcohol consumption or drug history is a common cause for applications being declined. |
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Travel |
Plans to visit high-risk countries can cause applications to be postponed until you return. |
Eligibility criteria and other requirements
To qualify for life insurance in the UK you need to be a resident here and hold a UK bank account. You will also need to be over the age of 18, and some policies have an upper age limit of around 70-75 years old at the time of application and around 90 by the end of it.
This table highlights the factors that impact a policy’s cost and likelihood of acceptance.
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Yes, it is possible to get coverage, though it may cost more. You must disclose any pre-existing conditions (such as diabetes, heart issues, or mental health history) when applying. If you don't, your policy could be voided. In some cases, insurers may offer a policy that excludes death related to that specific condition, or you may need to speak to a specialist broker to find a provider willing to cover you.
Yes, you can hold multiple life insurance policies with different providers. For example, you might have one policy specifically to cover your mortgage (decreasing term) and another to provide a lump sum for your family (level term). However, you generally cannot claim for the same financial loss twice if the policies are designed to cover a specific debt.
If you stop paying your monthly premiums, your policy will usually lapse, and your cover will end. Unlike a savings account, you won't get any money back (unless you have a specific "whole of life" investment policy with a surrender value, which is rare for standard protection). It is important to contact your insurer before cancelling, as they may offer a "payment holiday" or let you reduce your cover to lower the cost.
Speak to a protection advisor who specialises in life insurance today
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
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