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This will depend on the insurer and the type of life insurance policy you choose, though you will usually need to be a UK resident and at least 18 years old. Maximum ages will depend on the insurer and the policy, though it could be possible to get life insurance in your late 70s and beyond. 

There’s no legal requirement to get life insurance when you have a mortgage, though your mortgage provider might recommend or require that you do. Having life insurance to cover your mortgage means that if you die while you’re covered by the policy, your family would be able to pay off the debt, or keep up with repayments and stay in their home.
You don’t have to use the insurer your mortgage provider recommends. It’s worth getting quotes from other insurers, so you get a competitive price for the cover you need.

Often people will think about getting life insurance when getting married, buying a home, or having children. If there is someone that relies on you financially, life cover may be worth considering. It’s also a good idea to get life insurance when you’re younger, as it’s likely to be cheaper. 

How long you get life insurance for depends on how you want a payout to be used, your personal circumstances and the needs of your loved ones.   

If you want to ensure your mortgage is paid off, it may make sense to arrange cover for the duration of your mortgage term. Alternatively, you may want to protect your family until you know your children will be old enough to work and less reliant on you financially.   

Yes, you can have more than one life insurance policy if you want to. This may be useful if, for example, you need more cover later on, such as if you get a mortgage or pay increase, or if you have some cover provided by your employer but want more.

You don’t have to take additional policies out with the same insurer. Some life insurance companies let you adjust your cover amount without having to take out another policy. Just check that this isn’t more expensive overall than finding a new policy for the extra amount.

» MORE: Can you have more than one life insurance policy?

The best life insurance for you will depend on your intentions for the possible payout and your circumstances right now. Different types of cover can be used in different situations. Decreasing term insurance may be worth considering if you want to consider a mortgage, but level may be better if you want to leave a specific amount.

The average cost of life insurance in the UK is around £34 per month, according to life insurance broker Reassured. However, how much life cover will cost you depends on factors such as your age, health, and lifestyle, as well as the policy type, term and amount of cover you want. In some instances, it may be possible to get life cover for as little as £4 pounds a month, or perhaps less. 

Insurers might decline a life insurance application for a few reasons. Some may refuse you life cover if you’ve had a certain illness in the past, or because of health and lifestyle issues you may have now. A dangerous job or extreme hobby could mean you’re considered too high risk as well. But different providers have different criteria, which means that if one insurer declines your application another might not.

Yes, it is possible to get life insurance if you have a pre-existing medical condition. It may be that you get a policy that excludes that particular condition from the cover. This means the policy will only pay out if your death isn’t as a direct result of that condition. Alternatively, you may be able to get cover with the condition included, but it would probably cost you more.  
Depending on your age, you may be eligible for over 50s life insurance, which offers guaranteed acceptance and doesn’t require any medical checks.  

It depends. Most people don’t need a medical examination to be accepted for a life insurance policy, particularly if you’re in good health. Sometimes an insurer will just ask for extra health information from you or a medical report from your GP, with your permission, or a nurse may give you a call to ask a few questions.

If you do need to have a medical examination – perhaps because you have a certain condition or have been refused life insurance in the past – it’s nothing to worry about. It doesn’t necessarily mean your application won’t be successful, though sometimes certain health conditions can mean an application is declined. Always be honest about your medical history, or your policy could be cancelled and no payout made if there’s a claim. 

If you’re taking out over 50s life insurance, the insurer won’t usually ask you medical questions or ask you to have a medical examination.

» MORE: Can you get life insurance with no medical?

Life insurance premiums are higher if you smoke, because of the potential health implications that smoking can have. You must tell an insurer if you smoke.  

» MORE: Getting life insurance if you smoke

It may be possible to extend a life insurance policy you already have, but you’ll need to check with your insurer. Assuming you’re older, and your circumstances may have changed, the cost of your premiums could rise.  

If you miss a life insurance premium payment, your insurer could cancel your cover or refuse to pay out if a claim is made. Let your insurer know if you think you’ll miss a payment. In some circumstances, they may allow you a payment holiday, and let you catch up on the missed payment. 

When taking out life insurance, you may have the option to add a waiver of premium benefit to your policy. This is an extra insurance that covers your premiums if illness or injury means you are unable to work for a certain period of time. Waiver of premium can only be added at the start of a policy and will increase the cost of your premiums. 

The lump sum payout from a life insurance policy is usually tax-free in itself – because it’s not classed as income, it means income tax does not apply. However, if your estate is liable for inheritance tax (IHT) after using all the different exemptions and allowances, the life insurance payout could be affected too.

If you put the life insurance policy in a trust, it can help protect the lump sum from IHT because it’s not part of your estate and has its own legal arrangement. The money can go direct to beneficiaries via the trustees, as instructed. This can be useful if you’re leaving money to young people, for example. It also usually means the money will be paid out quicker than the remaining estate.

Trusts can be a complicated area, and once your policy is in a trust it’s difficult to change it, so it can be worth taking financial and legal advice before going ahead.

» MORE: Do you pay tax on life insurance?

To make a claim on a life insurance policy, you’ll need to contact the insurer the policy is with. If possible, you should have the policy details to hand. There’ll be forms to fill in, and it’s likely you’ll need to supply the insurer with a death certificate. The insurer will guide you through everything. 
It’s a good idea to tell your family if you have life insurance. Let them know the name of the provider and the type of policy it is, to help make the admin easier for them when the time comes.

There’s no set time frame, and it will vary between insurers, but generally, you can expect a life insurance claim to be paid out within 30 to 60 days. However, it may be quicker or longer, depending on the circumstances, and the insurer receiving all of the paperwork and documents that it needs. A payout may be faster if the life policy is in trust.      

If someone takes their own life, most insurers have a clause stating they won’t pay out for suicide or self-inflicted injury within a certain period. Usually this is 12 or 24 months after the policy start date. After that, a claim for a death through suicide may be considered like any other claim when the policyholder dies.

It’s good practice to review your life insurance at least once a year. You may also want to revisit your cover following a major life event, such as becoming a parent or buying a property with someone else. 

It’s possible to cancel a life insurance policy at any time. If you want to cancel a policy you’ve just bought, you’ll automatically have a 30-day cooling off period in which to do so. You should get a refund of any premiums you’ve already paid, but there may be fees for cancelling. If your cover has been in place longer, you won’t usually get your money back if you cancel.

Term life insurance policies have no cash value. You pay premiums and if you outlive your policy, you get no payout and you don’t get your premiums back.

Some whole of life policies let you cash in, or surrender, all or part of your cover while you’re alive. This basically means cancelling the policy and you, the policyholder, receiving the sum rather than your beneficiaries when you die. This is a big step, so talk to a financial adviser if you are considering it.

Also be aware that you may have to pay charges, and it’s possible that your policy’s value could be less than you’ve paid in premiums when you surrender it. If the surrender value is more than total premiums paid, this can have tax implications. So again, it can be worth getting advice before making this decision.

Life insurance is cover that lasts for a set period of time or term, while life assurance is cover that remains in place for your lifetime.  

» MORE: Life assurance vs life assurance

Life insurance provides a payout to your loved ones if you die during the policy term, whereas income protection insurance provides you with a regular income if you’re unable to work for a certain period of time due to illness or injury.