FCA Regulated • Ref 478810 • Whole of Market
Life Insurance & Life Cover London

Life insurance London —protect your family & mortgage

1 in 4 people in the UK die before reaching retirement age. If the worst were to happen, life insurance ensures your family can pay off the London mortgage and maintain their lifestyle. We compare policies from over 20 leading UK insurers — often from as little as £10 per month.

From £10/monthCompare 20+ insurersPolicies in trust availableJoint cover for couples
Call 0844 884 9748 — Mon–Sat 9am–7pm
Step 1 of 3

What type of protection do you need?

Select all that apply — we will find the right solution for you.

Why life insurance matters in London

Key statistics every London homeowner should know

1 in 4
People die before retirement age in the UK
Source: ONS mortality data
£500k+
Average London property price — the mortgage risk your family faces
Source: Land Registry, 2025
£10/mo
Typical starting premium for a healthy 30-year-old non-smoker
Whole of market comparison

Types of life insurance

The right type of policy depends on your mortgage, family situation, and budget.

Most flexible

Level Term Insurance

The payout stays the same throughout the policy term. Ideal for interest-only mortgages or to provide a fixed lump sum for your family.

Most popular

Decreasing Term Insurance

The payout reduces in line with your repayment mortgage balance. Lower premiums than level term — great value for mortgage protection.

For couples

Joint Life Insurance

Covers two people under one policy. Typically cheaper than two separate policies but pays out on the first death only — we'll explain the trade-offs.

How we arrange your life cover

A simple 4-step process — most policies in place within days.

01
Free needs assessment
We review your mortgage balance, income, family situation, and existing cover to calculate exactly how much life insurance you need — and which type suits you best.
02
Whole of market comparison
We compare level term, decreasing term, and joint policies across 20+ leading UK insurers including Aviva, Legal & General, Royal London, Scottish Widows, and Zurich, looking at price, quality, and claims reputation.
03
Tailored recommendation
We recommend the most suitable policy for your budget, mortgage type, and family circumstances — explaining the pros and cons of each option clearly.
04
Application and setup
We handle the application on your behalf and can arrange for the policy to be written in trust — so the payout reaches your family quickly without probate delays.

What life insurance covers — and what it does not

What is covered

  • Death from any cause (subject to exclusions)
  • Terminal illness — paid out early if diagnosed
  • Death from illness, accident or natural causes
  • Tax-free lump sum paid to beneficiaries
  • Optional critical illness added to same policy
  • Joint policy pays on first death

What is not covered

  • Death within an initial exclusion period (some policies)
  • Death from pre-existing conditions (if excluded)
  • Non-accidental death from undisclosed activities
  • Suicide (typically excluded in first 12–24 months)
  • Illness or injury that does not result in death
  • Death after the policy term has ended

Exact terms vary by insurer and policy. We always review the full policy wording with you before application.

Life insurance cost guide — UK 2026

Indicative monthly premiums for a non-smoking, healthy individual. Actual premiums depend on health, occupation, and insurer.

Age£200k cover (20yr term)£300k cover (25yr term)£500k cover (25yr term)
25~£7/month~£9/month~£14/month
30~£10/month~£13/month~£20/month
35~£14/month~£18/month~£28/month
40~£22/month~£30/month~£46/month
45~£38/month~£52/month~£80/month

Premiums shown are for level term cover. Decreasing term is typically 20–30% cheaper. Smoker premiums are typically 2–3× higher.

How much life cover do I need?

There is no single right answer, but a common starting point is the DIME formula: Debt + Income + Mortgage + Education costs.

Example: London homeowner, aged 35

  • Mortgage balance: £380,000
  • Other debts: £15,000
  • Lost income (5 years × £55k salary): £275,000
  • Funeral costs + emergency fund: £20,000
  • Recommended sum assured: ~£690,000

A 25-year level term policy for this person would cost approximately £55–£70 per month from a leading insurer.

The 10x salary rule (insure yourself for 10 times your annual income) is a useful shortcut. However, London's higher property prices and cost of living often mean a more detailed calculation is worthwhile. We run through this with you at no charge as part of your free consultation.

Life insurance in London: what you need to know

Life insurance is one of the most important financial products you will ever buy, yet many London homeowners remain unprotected. With London property prices averaging well over £500,000, the financial impact on your family of losing your income would be severe without the right cover in place.

Term life insurance is the most common form of life cover for mortgage protection. You choose a term (typically matching the length of your mortgage) and a sum assured. If you die within that term, the policy pays out a tax-free lump sum that your family can use to clear the mortgage and meet other financial obligations.

Premiums are based on your age, health, lifestyle (particularly smoking), the amount of cover, and the length of the policy. The younger and healthier you are when you take out cover, the lower your premiums will be — so it pays to arrange life insurance as early as possible.

We compare policies from all the major UK life insurers — including Aviva, Legal & General, Royal London, Scottish Widows, Zurich, AIG, and more — to find the best combination of price, cover, and claim reliability for your needs.

Life insurance FAQs

What is life insurance and do I need it?
Life insurance pays a tax-free lump sum to your family if you die during the policy term. If you have a mortgage, dependants, or anyone who relies on your income, life insurance is essential. It ensures your family can pay off the mortgage and maintain their standard of living without financial hardship.
What is the difference between level term and decreasing term life insurance?
Level term life insurance pays the same fixed amount whenever you die within the policy term — ideal for interest-only mortgages or leaving a lump sum for your family. Decreasing term insurance reduces the payout over time to mirror a repayment mortgage balance, making premiums lower. We will help you decide which suits your mortgage type and budget.
What is decreasing term life insurance?
Decreasing term life insurance has a payout that reduces over time, designed to mirror a repayment mortgage balance. As you pay off your mortgage, the amount you need to protect reduces, so premiums are lower than level term insurance. It is the most popular choice for protecting a repayment mortgage.
How much life insurance do I need?
At a minimum, you should have enough to pay off your mortgage. Many people also factor in other debts, funeral costs, and ongoing family living expenses. A common rule of thumb is 10x your annual salary, but we will help you calculate exactly the right level of cover for your specific circumstances.
Can I get life insurance if I smoke or have health issues?
Yes. Smokers and people with pre-existing health conditions can still get life insurance, though premiums may be higher. Some conditions may result in exclusions. We search the whole market — including specialist insurers — to find the best available terms for your health profile.
Can I put my life insurance in trust?
Yes, and we strongly recommend it. Placing your life insurance policy in trust means the payout goes directly to your beneficiaries without going through probate, speeding up the claim and potentially avoiding inheritance tax. We can advise you on this as part of our free consultation.
Can I get life insurance with a mortgage in London?
Absolutely — and you should. Life insurance is not compulsory when taking out a mortgage, but it is strongly recommended. If you die without cover, your family would need to keep up mortgage payments out of reduced income, or risk losing the home. Most London homeowners arrange life cover at the same time as their mortgage for maximum convenience.
How much does life insurance cost in London in 2026?
A healthy non-smoker aged 30 can typically get £200,000 of level term life cover for £10–£15 per month. A 40-year-old in good health might pay £20–£30 per month for the same level of cover. Premiums rise with age, so the sooner you arrange cover the better. We compare the market to find you the lowest available premiums.
What is the difference between life insurance and critical illness cover?
Life insurance pays out only on death. Critical illness cover pays a lump sum if you are diagnosed with a specified serious illness (such as cancer, heart attack, or stroke) — even if you survive. Many people choose a combined life and critical illness policy to cover both risks. We will advise which combination is right for you.
Is life insurance the same as mortgage protection insurance?
Mortgage protection insurance is a broader term that usually refers to life cover arranged specifically to repay a mortgage, but the two are closely related. Decreasing term life insurance is the most common form of mortgage protection. Mortgage protection can also include critical illness cover or income protection as additional layers.
Important — read this before you finish

Should your life insurance be in trust?

Most London homeowners arrange life insurance but skip the single most important step — writing it in trust. Without a trust, your payout goes through probate (6–12 months) and may be subject to 40% inheritance tax. With a trust, the money reaches your family in days.

It is free. It takes 30 minutes. We do it for every client.

Find out why this matters →

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Get your free life insurance quote today

We compare the whole market to find you the right level of life cover at the right price. Serving all of Greater London.

Get a Free Initial QuoteCall 0844 884 9748

Mortgage International is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority (FCA Ref: 478810). Trusts are not regulated by the Financial Conduct Authority.