Compare level term life insurance providers

Level term life insurance pays out a lump sum to your loved ones in the event of your death. The word ‘term’ refers to how many years the policy lasts, for example, it could be 35 years or 15 years depending on your personal needs. Policies with longer terms tend to be the best level term life insurance policies because they offer more years of protection. You get to choose how many years the policy lasts and how much your family receives in the event of your death. The higher the payout and the longer the term, the more expensive the policy will be. If you have a policy that lasts 15 years and you don't die in that time, the policy will end and your family won't be entitled to a payout. If you want to continue to be protected, you'll have to take out a new life insurance policy, but due to your increased age, the policy is likely to cost you more. 

Your level term life insurance payout can be used to help your dependents cover any financial commitments that you leave behind, including:

The amount of level life insurance cover you need will vary depending on your personal circumstances. The more cover you take out, the higher your premium will be so it's important that you don't overinsure. However, if you don't take out enough life insurance, your family might not be as financially protected as you'd like in the future. To work out how much cover you want in your level term insurance policy, you should consider the following:

You have the option of adding critical illness cover to your policy to give you additional protection if you're diagnosed with a critical illness listed in the policy. You can either take out critical illness cover in addition to life insurance or as part of a combined policy. If you take it out as additional cover, you will get a payout if you're diagnosed with a critical illness and also if you die at a later date during the policy term. If you take it out as combined cover, you will get a payout either if you're diagnosed with a critical illness or if you die during the policy term. 

When comparing level term life insurance policies, you might be tempted to pick the cheapest policy on the market. But cheap level term life insurance isn’t always the best. That’s why we encourage you to take a look at provider reviews before you purchase a policy. When it comes to life insurance, your loved ones will have to handle the claim in the event of your death so it’s important to pick an insurer that will look after your dependents and guide them through the process.