If you can't find what you're looking for on our site you can talk to us over the phone by calling 0800 524 4153 and we'll be happy to answer all your questions on life insurance.

What is level term life insurance?

Level term life insurance means that the amount you insure yourself for will not change over time, this type of policy is normally used to protect your family or cover an interest only mortgage.

How level term life insurance works

If you were to insure yourself for £100,000 then that cover amount will never change while you policy is in place.

Applying for a level term joint policy

Level term life insurance can be purchased either as a single or joint policy depending on whether you would like to include another person on your policy.

If you were to take out a joint policy for you and your partner, the insurer would pay out a lump sum when the first person dies within the policy term. However, the surviving partner will be uninsured.

Alternatives to a joint policy

The alternative is to take out two single level term life insurance policies, by doing this you are insuring yourselves separately. Running two policies can be more expensive but you could double your cover and often the insurer will provide a discount for the policies.

For example, a joint policy may only cover you for £100,000 in total, whereas on two single policies you could insure yourselves for £100,000 each. That way if one of you passed away first, the remaining person would still be insured paying the same premium and if you both passed away at exactly the same time, the pay-out to your family would be £200,000.

If you would like to get a quote on two single policies give us a call on 0800 524 4153.

Learn more about level term life insurance