Published by Joe Davine on
Last updated:

How to get life insurance for your family

Coverage for the whole family so you can enjoy your time here.

Life insurance for a family in the UK makes sure that your family won’t have to worry about finances in the event of your passing. Having that kind of peace of mind is priceless. Get insured today so you can live your life tomorrow.

What is Family Life Insurance (UK)?

Family life insurance provides coverage for your family members who depend on you in the event of your death. By paying a premium each month, you’re insuring your family. If you die during your policy term, the policy will pay out to the family members listed as beneficiaries.

Is Family Life Insurance in the UK right for me?

If anyone depends on you financially, whether a child, a spouse, or a dependent sibling, parent, or another relative, you should consider it. The financial implications for your loved ones in the event of your death could be significant. No one wants to leave their family with that kind of burden while they are grieving a loss.

How much does Family Life Insurance (UK) cost?

This varies greatly depending on the type of insurance you seek and the extent of coverage you need. However, the most affordable plans start at only £5 per month (and some come with free gifts too). If you are older, suffer medical conditions, want high coverage levels, or desire additional coverage options such as child life insurance, the cost will be significantly higher - so be sure to check out the best insurers.

Who can be covered by Family Life Insurance?

Anyone over the age of 18 can be covered by it. If you would like to cover both you and your spouse, you can take out a joint life insurance plan. There are usually options to include an add-on policy for your child as well. Therefore, it is possible to cover the entire family with this policy.

Family Life Insurance Compared with Joint Life Insurance

Life insurance for a family makes it possible for the main breadwinner to take out a single life insurance policy and leave the rest of the family uncovered. If both spouses want to be covered by life insurance, they will often choose joint life insurance. This is often cheaper than it would be if both spouses were to take out separate life insurance policies.

Differences of Children Life Insurance and Family Life Insurance

Life insurance for a family is a life insurance coverage for the adults in the family. It can cover one or multiple adults. However, children cannot take out their own policies. Instead, parents can add a children life insurance policy onto their existing policies for an additional cost. The child is then covered until they are of age, which can be anywhere from 18 to 23 depending on the provider.

Pros of Family Life Insurance (UK)

  • Helps your loved ones cover the costs associated with death. The costs of funeral services are on the rise. It can cost thousands just to hold a funeral now, not to mention other costs that may arise after your passing. Don’t leave your family scrambling to make ends meet when you pass away.
  • Assists your family in paying off your debts. Our debts don’t follow us after we pass away, but they do follow our families. If you have a mortgage, business, or other forms of debt, your family will be left to pay them off after you pass. This type of insurance provides a family with the means to pay off that debt.
  • Replaces your income. What would your family do without your income? Would they be able to support themselves? If you can’t answer yes to both of these questions, life insurance for a family is a must. Even if you aren’t the breadwinner in the family, other duties such as staying home with the kids and taking care of the home hold monetary value.
  • Provides your family with peace of mind. When a loved one passes, the last thing we want to worry about is financial troubles. Having the benefit of a life insurance payout gives your family members one less burden during a difficult time.

Cons of Family Life Insurance in the UK

  • The cost can be high if you are a risky client. If you are very old, unhealthy, or have chronic illnesses such as diabetes, it can be more difficult to find affordable coverage. That being said, if you can afford it, the cost is usually worth it.
  • You may not have anyone who depends on you. If you have no dependents and no one you could denote as a beneficiary, then it isn’t necessary. Remember that dependents don’t only include children, but also spouses, parents, and siblings who rely on your income. It’s also important to note that life insurance is cheaper when you’re younger, so it can be wise to lock in a low premium now even if you don’t need the policy yet.

Am I eligible for Family Life Insurance in the UK?

Eligibility requirements vary by provider, but almost all providers will require that you:

  • Are at least 18 years of age
  • Are below 65, 70, or 75
  • Are a citizen or permanent resident of the UK
  • Do not suffer from terminal illness

Where can I get a Life Insurance for a Family quote?

Our Family Life Insurance Calculator is fast and accurate. Get a quote today and start planning your family’s future.