Family Life Insurance
Discover how family life insurance can protect your loved ones' financial future. Compare quotes from leading UK providers to find the right cover for your family's needs.
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While it's hard to think about not being around for your family, it's important to plan for the future and ensure they're financially protected should the worst happen to you.
This is where life insurance could be a vital lifeline. If you were to die unexpectedly, could your family afford to:
What is family life insurance?
Life insurance is a policy that can payout a cash payment to your family members if you die during the term.
Often referred to as family life insurance as the funds are typically left to your family to help them cover essential living costs.
There are various policy types available to meet differing needs.
Some policies provide cover for a specified period while others offer lifelong cover. The one that's right for you will depend on the specific needs of you and your family.
Comparing family life insurance quotes can allow you to find the right policy for your personal circumstances at a great price.
LifePro can help you compare family life insurance quotes from leading UK insurers, free of charge.
We've helped over 1,000,000 UK families find affordable cover.
How much family life insurance do you need?
Enter your financial commitments and other costs you'd like your policy to cover to calculate the level of family life insurance cover you need.
The amount of life insurance you need depends on your financial obligations and what you want to provide for your loved ones. A common rule of thumb is to have cover worth 10 times your annual salary, though your individual circumstances may require more or less.
Consider the following when calculating your life insurance needs:
- Outstanding mortgage balance
- Other debts and loans
- Income replacement for your family (typically 5-10 years of salary)
- Children's education costs
- Funeral expenses (typically £4,000-£10,000)
- Any specific financial goals for your dependents
For example, if you have a £200,000 mortgage, earn £40,000 per year, and want to provide 10 years of income replacement, you might need around £600,000 of cover (£200,000 + (£40,000 × 10)).
Use our free comparison tool to get personalised quotes from 50+ UK insurers, including Family Life Insurance, and find the right level of cover for your needs at the best available price.
Compare Life Insurance Quotes »Why use LifePro?
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What is the best life insurance for a family?
There are a variety of life insurance policies, with each type being well suited to protecting different aspects of your life.
The policy that's best for you and your family will depend on what you want to protect.
Life insurance can be split into two categories: term-based cover and life assurance (cover which lasts for life).
Most commonly, term-based life insurance is secured to protect a family as you can have the policy term align with important milestones, such as when the mortgage will be paid off or once your children reach financial independence.
The term-based options we offer at LifePro include:
LifePro’s top tips for cheap family life insurance
Families often have to survive on a tight budget, making it important to arrange life insurance as cost-effectively as possible.
Below are our top 5 life insurance tips to ensure you pay as little as possible for your cover:
Compare family life insurance quotes
To ensure you secure a great deal on your family life insurance, it's essential to compare prices.
Our award-winning brokerage can help you compare prices from some of the UK's best life insurance providers.
We can also provide all the information you need to make an informed decision on what's right for you and your family.
Quotes are fee-free and start from just 20p-a-day.
We've arranged life insurance for over 1 million UK families, so why not contact us to take the first steps in protecting your loved one's future.
Frequently Asked Questions
What is family life insurance?
Family life insurance is life insurance designed to protect your family's financial future if you die. It pays a tax-free lump sum to your beneficiaries to cover expenses like mortgage payments, bills, childcare, education costs, and daily living expenses. It ensures your family can maintain their lifestyle even without your income.
How much family life insurance do I need?
Calculate your family's needs by adding: outstanding mortgage (average £138,000), debts and loans (average £35,000), funeral costs (£4,000-£9,000), childcare/education costs, and 5-10 years of living expenses (£30,000-£60,000/year). Most families need £100,000-£500,000 cover depending on circumstances.
What types of family life insurance are available?
Main types include: Level term (fixed payout), Decreasing term (reduces with mortgage), Family income benefit (monthly payments instead of lump sum), Joint life (covers two people), and Over 50s guaranteed acceptance. The best type depends on what you're protecting - mortgage, income replacement, or final expenses.
How much does family life insurance cost?
Cost depends on age, health, smoking status, and cover amount. Example: A healthy 30-year-old non-smoker might pay £10-15/month for £200,000 cover over 25 years. A 40-year-old smoker might pay £30-40/month for the same cover. Get quotes to compare - prices vary significantly between insurers.
Can both parents get life insurance?
Yes! Options include: Separate individual policies (most flexible), Joint life first death (pays once when first person dies - cheaper but only one payout), or Joint life second death (pays when both die - for inheritance planning). Most families choose separate policies for maximum protection.
Do I need life insurance if I'm a stay-at-home parent?
Yes! Stay-at-home parents provide valuable unpaid services worth £30,000-£40,000/year (childcare, cooking, cleaning, household management). If they die, the working parent must pay for these services. Life insurance ensures the family can afford professional help or reduced working hours.
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