Level Term Life Insurance

What is level term life insurance?

Level Term Life Insurance is a type of cover that provides a fixed sum which pays out to your loved one should you pass away during the policy term.

This policy allows you to pick your pay-out amount (known as the sum assured) and length of the policy (known as the term) and get an easy fixed monthly premium which lasts for the rest of your policy term or until pay-out.

Being active outside

The Benefits of Level Term Life Insurance:


Fixed Monthly Premium

Fixed Lump Sum Pay-out

Fixed Term

The total pay-out sum could be from a few thousand to millions and cover can be in place from as early as 16 years old and can cover you up to any age.

This differs from decreasing term life insurance because the pay-out stays the same no matter how long your term has been live for.

At Freedom to Insure, we have access to prices from the entire life insurance market, this means you can rest assured that we will find the most competitive life insurance policy for you.

How much can level term life insurance cost me?

Level term life insurance has a huge range in cost and is dependent on the amount you wish to be assured for.

Although you can arrange for your fixed pay-out to be between a couple of thousand to somewhere in the millions, this amount you’re covered for will affect your fixed monthly premium so it’s important to consider what you are most comfortable paying for.

Level Term Life Insurance policies can start from as little as £5 a month. The cost varies depending on a range of factors, including your age, pre-existing health conditions, or whether you smoke.

The largest impact on premiums will come from how much cover you want and for how long.

Knowing how much cover you may require will depend on your lifestyle and estate debt. Should you have a mortgage, children, debt and other expenses that may need to be covered if you were no longer here, you would need enough financial help to cover these costs.

With all these costs combined, you now should have a pretty good idea of the amount you should cover yourself for.

Level Term Life Insurance for £5 a month

Freedom to Insure has an experienced and helpful team of consultants on hand to find the best policy for you.

Although many of the factors which determine the cost of cover can’t be changed, your personal consultant can explain the various options. This will ensure you have the most appropriate, and affordable, policy.

As a broker with over 13 years of experience, we have access to the whole of the UK market. This allows us to offer a great range of products from the best insurers in the country at the most competitive prices.

Fill in our quick and easy form below and we’ll get in touch to discuss your options. Alternatively, give us a call on 0203 092 1372, or visit our contact page.

Do I need Level Term Life Insurance?

Anyone can benefit from level term life insurance. Being covered in case the worst were to happen is important whether you have people dependent on you, or if you just want to make sure you can cover funeral expenses and outstanding debt that could pass onto your estate’s executor.

Level Term Life Insurance tends to be the most popular cover solution due to its fixed premiums and fixed pay-outs, allowing you to plan with ease for monthly expenses and for future arrangements such as final wishes, childcare costs and even extra money to help loved ones after you pass.

Am I able to add critical illness cover to your level term life insurance?

Adding Critical Illness Cover to your existing or now Level Term Insurance policy means that you would also be covered should you be diagnosed with a serious medical condition such as cancer or a heart attack.

There are two ways to add Critical Illness Cover, these are Combined Cover and Standalone (Additional) Cover.

Combined Cover means combining both your Level Term Life Insurance and Critical Illness Cover to have a single pay-out. In this instance should you develop a serious medical condition or pass away, the policy would pay the fixed lump sum and the policy would end.

Standalone (Additional) Cover is slightly different. Arranging Critical Illness Cover separately  to your Level Term Life Insurance means if you were to be diagnosed with a serious medical condition the Critical Illness Cover would pay a lump sum but the Level Term Life Insurance would continue until the term ends or you pass away.

Why level term life insurance?

Level term life insurance is simple to set up and doesn’t rise in monthly costs throughout your agreed term length.

Furthermore, it pays out a fixed lump sum no matter how far along you are into your policy, should it be 10 years before the end or a year, the pay-out would be the same.

Why Should You Get Level Term Life Insurance?

 Provide financial support after you have passed.

Help loved ones pay off loans and mortgage payments.

 Pay for your own funeral expenses.

This amount could be from a few thousand to millions. Cover can be in place from as early as 16 years old and can cover you up to any age.

Should I review my level term life insurance cover?

Reviewing your life insurance should be a regular occurrence.

There are a few reasons for doing this, such as;

A better offer in the market now, or your lifestyle maybe have changed, and your needs have increased or decreased meaning your pay-out should be reviewed and adjusted.

Some of the expenses that may affect your needs could be;

An increase or decrease on your Mortgage
A new member in the family

Although reviewing your insurance cover is always important, it is also important not to cancel your current policy until you have a new policy in place.

What Happens If I Outlive My Cover?

Outliving your life insurance cover often happens. Should you be in this scenario you can contact us and we will assist you in finding the best deal to suit your new requirements.

Like car insurance, once the cover term has come to an end, the contract becomes void and no pay-out is provided.

Should you allow your cover to expire and pass after the term of your contract, your loved ones would not be in a position to receive a lump sum, so always keep an eye on your term and if you believe you require an extension or new policy, contact us at 0203 092 1372 and we will find the best options for your needs.

How can I reduce my premium?

Some of the ways encouraging people to save money on their insurance cover are small acts which can make big differences in their premiums.


  • The biggest change someone can make is to quit smoking. It is no secret smokers have higher premiums compared to non-smokers by nearly double.
  • Act fast! Getting a policy whilst at a young age means lower premiums, so if you can, start today.
  • Don’t get the highest assured pay-out. We sometimes feel like getting the highest pay-outs is worth the high premiums, but missing payments can result in your cover being voided. Stick to what you can afford and work out how much you really need.
  • Having a healthy lifestyle impacts not just your health and wellbeing but also your premiums. Staying active and being on top of your health really can make those monthly premiums much more affordable in the long run.
  • To save you having to spend unnecessary money, always check if you already have a policy in place, this could be an existing policy you have jointly with your partner or maybe your place of work have life insurance in place as part of their benefits package.
  • Use Freedom to Insure! We are confident we can find the right policy for your needs, with over 10 years of experience and access to the whole of the UK insurance market, we are not just able to find the best deals, but we may find cover that is better suited than your current one.

Do I need single or joint level term insurance?

Joint life insurance just means that the policy covers two people at once.

You still have one single monthly premium payment, there is still a single contract, but it is in the name of both parties covered.

The biggest difference between a single level term policy and joint term is that the cover applies to both parties at once meaning upon the first death, a lump sum is paid, and the contract expires.

Applying for joint cover will require both parties’ information such as health history, smoking status and age, just like a single level term policy.

Since Joint Term insurance only pays out for the first death, the surviving partner may be left unprotected. This should be a factor when choosing the best type of cover for both parties needs.

Comparing level term life insurance quotes

Comparing life insurance quotes can sometimes be overwhelming and tricky, this is why here at Freedom to Insure we make the process easy for you. We simply ask you a few questions and soon after will provide you with the best offers to suit your needs. We are FCA regulated so you can trust we make sure to provide you with only the best deals for you.

These quotes are non-obligatory, and you can always adjust your needs during the process until you are 100% happy with the policy we are offering, which at any point if you do not want to continue with your application, simply let us know. The final decision is always yours.

How Does Level Term Life Insurance Differ From Other Protection Products?

Level Term Life Insurance differs from Mortgage Protection Insurance (also known as decreasing term insurance).This type of policy reduces the size of the pay-out as the size of your mortgage decreases over time. For example, you could start with £250,000 of insurance which reduces to £100,000 after ten years of mortgage payments.

It also differs from Critical Illness Insurance. This insurance pays out a sum, much like level or decreasing term insurance, but upon the diagnosis of a serious illness or condition. For example, a £50,000 pay-out if a critical diagnosis was made within the duration of the policy. This insurance can often be included or added to standalone life insurance policies.

Alternatives to level term life insurance?

We know one single policy won’t suit everyone’s needs, so we offer more than just Level Term Life Insurance. Although Level Term Life Insurance is a simple fixed cover, there are other options should your needs be different.

Decreasing Term Insurance, also known as Mortgage Insurance, means you can get cover for a pay-out sum that is equivalent to you mortgage, this would decrease during your term until it ends, or you pass. This type of cover decreases over time but offers more affordable monthly premiums than Level Term Life Insurance, so is normally a great option to cover assets that you are paying off.

Another option available is Whole of Life Insurance, which would cover you until you pass with no term limit. These tend to have higher premiums due to covering you until you die paying out if you keep up with the monthly premium.

You may be considering a more specific cover such as Income Protection Insurance. This cover allows you to meet financial commitments should you be forced to take a prolonged break from work such as developing an illness or injury, or if you were to lose your job for a reason that is not your fault.

We offer many different options and the best option normally is to get in contact with our experienced team and see the full range of options that could be available to you. They are always happy to help you and give you all the information you should need to make an informed and confident decision.

Get a free quote!

Speak to one of our consultants over the phone and find the perfect insurance policy for you. Just submit your details in our form and we’ll be in touch shortly.

    • Your Cover
    • About You
    • Contact Details

    How much cover are you looking for? ( £ )

    How many years should the cover last?

    Who is the cover for?