Best Life Insurance Companies in United Kingdom (UK)

Protecting the financial future of your family is crucial in a world that is constantly changing. The foundation of this stability is life insurance, which provides comfort during uncertain times. But with so many possibilities, choose the best life insurance provider can be a difficult undertaking. In this post, we examine the top life insurance providers in the UK, giving you useful information that can aid in your decision-making regarding the financial security of your family. Find out the reputable names that have stood by people and families in the UK, assuring the security of their legacies.

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1. Life Insurance

A person enters into a financial agreement known as life insurance by paying an insurance firm recurring premiums. In exchange, the insurance provider agrees to pay a sum of money, known as the death benefit, to the designated beneficiaries after the insured individual passes away.

If the insured individual passes away, this agreement offers financial security to their surviving family members by guaranteeing that they will be able to cover costs like burial fees, mortgage payments, and daily living expenses. There are various types of life insurance, each with unique characteristics and advantages, including term, whole life, universal life, and variable life. It is an essential instrument for people to use in order to safeguard the financial future of their families.

1.1 Need for Life Insurance

A vital financial tool, life insurance offers people and their loved ones priceless security and peace of mind. It acts as a safeguard, making sure that in the unfortunate case of the policyholder’s passing, their family and dependents are not put through financial troubles.

Funeral costs, unpaid bills, mortgage payments, and even the policyholder’s lost income can all be covered by the life insurance proceeds, allowing the policyholder’s family to maintain their quality of living. Moreover, life insurance provides opportunities for wealth creation and estate planning, making it a crucial part of long-term financial planning. In essence, life insurance is a commitment to protecting the future and well-being of those you care about most, more than just a policy.

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2. Best Life Insurance Companies – United Kingdom (UK)

“Choosing the best life insurance provider is an essential first step in safeguarding your family’s financial future. In this concise guide, we list the best life insurance providers in the UK, giving you a quick overview of the most reliable and recognized organizations in the sector.

2.1 Top Life Insurance Companies According to Our Research

While choosing a life insurance provider, we looked into and evaluated a number of important variables, including cost, policies, add-on coverage, the application procedure, the provider’s financial stability, and customer happiness.

1. Aviva
2. Legal and General
3. LV=
4. Royal London
5. VitalityLife
6. Zurich
7. AIG
8. Scottish Widows
9. Aegon
10. Nationwide

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3. Aviva – United Kingdom (UK)

3.1 Why Its Highly Recommended – Aviva United Kingdom (UK)

Aviva is ranked No.1 in the Best UK Life Insurance Companies of 2023 rating. The insurer offers level, decreasing, and indexed term policies, as well as over 50s, critical illness, and income protection policies. Policies range from one to 50 years, with a maximum cover of £5 million. Aviva also includes terminal illness and separation benefits, and offers up to 90 days of free life cover during house purchases.

3.2 Pros & Cons – Aviva United Kingdom (UK)

Pros	Cons
Many policy options are available.	Policies have no cash-in value, therefore if premium payments halt, the insurance will end and no money will be returned.
Online quotes are available to prospective policyholders.	Costly critical illness
Separation, terminal sickness, and house purchase coverage are included benefits.

3.3 Company Overview – Aviva United Kingdom (UK)

A worldwide insurance firm with its main office in London, England is called Aviva plc. Almost 18 million people use it in its three main markets, the UK, Ireland, and Canada. [3] [4] Aviva is the biggest general insurance and a top supplier of life and pensions in the United Kingdom. Moreover, Aviva is Canada’s second-largest general insurer.

Industry	Financial services
Founded	1696 as Hand in Hand Fire & Life Insurance Society. 2000 as Aviva plc (by merger).
Headquarters	London, England, UK

3.3 Products & Services – Aviva United Kingdom (UK)

 Several term life insurance plans are available through Aviva, in addition to over 50s coverage.

Term Life Insurance

1. Term Life – Level
2. Term Life – Decreasing
3. Term Life – Indexed
4. Over 50 Life Insurance

3.4 Contact Details – Aviva United Kingdom (UK)

You can contact company through,

Phone Number	0345 030 6925
Address	St Helen’s, 1 Undershaft, London EC3P 3DQ
Email	[email protected].
Official Website	https://www.aviva.co.uk/

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4. Legal and General – United Kingdom (UK)

4.1 Why Its Highly Recommended – Legal and General United Kingdom (UK)

Legal & General offers online life insurance products, starting from the application point. They offer level and decreasing term policies, critical illness, over 50s, income protection, and illness and injury cover. Coverage limits vary depending on the type of cover, with coverage ranging from £7,000 to over £1 million for a 25-year policy term.

Age restrictions vary, with level term life insurance available between 18 and 77, decreasing between 18 and 74, critical illness coverage ranging to 67, and illness and injury coverage for 18 to 55.

4.2 Pros & Cons – Legal and General United Kingdom (UK)

Pros	Cons
Online quotes for almost all policies can be readily obtained without an agent (only need for a growing policy).	Any life insurance policy, with the exception of those for people over 50, may need a medical checkup.
With term life insurance policies, accidental death benefit and terminal disease coverage are free.	Contrary to several competitors, health and wellbeing support is only available through phone-based services
From the moment an application is received, coverage begins.	Does not provide full life insurance directly.

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4.3 Company Overview – Legal and General United Kingdom (UK)

Located in London, England, Legal & General Group plc, also known as Legal & General, is a British international financial services and asset management corporation. Investment management, lifetime mortgages (a type of equity release), pensions, annuities, and life insurance are among its goods and services.

With the sale of Legal & General Insurance to Allianz in January 2020, it no longer offers general insurance. It operates in the United States and the United Kingdom, and it also has investment management operations in the Gulf, Europe, and Asia.

Industry	Financial services Asset management
Founded	1836; 187 years ago
Headquarters	London, England, UK

4.4 Products & Services – Legal and General United Kingdom (UK)

The top insurance packages they provide are listed below.

1. Level Term Life Insurance
2. Decreasing Term Life Insurance
3. Whole of Life Insurance
4. Over 50s Life Insurance

4.5 Contact Details – Legal and General United Kingdom (UK)

You can contact company through,

Phone Number	0345 766 0813
Address	One Coleman Street
Email	[email protected].
Official Website	https://www.legalandgeneral.com/

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5. LV= – United Kingdom (UK)

5.1 Why Its Highly Recommended – LV= United Kingdom (UK)

LV= provides standalone term life insurance and critical illness insurance, with coverage limits of £1.5 million for term life and £10 million for critical illness. Income protection is available on a full or budget basis, with claims limits of 12-24 months. LV= offers quotes online or through an insurance broker, with income protection sold through advisors. The company has a lower S&P rating but is considered ‘investment grade’. Policies are available from age 17, with maximum age 84. Terms range from five to 50 years.

5.2 Pros & Cons – LV= United Kingdom (UK)

Pros	Cons
Online quotes for almost all policies can be readily obtained without an agent (only need for a growing policy).	Any life insurance policy, with the exception of those for people over 50, may need a medical checkup.
With term life insurance policies, accidental death benefit and terminal disease coverage are free.	Contrary to several competitors, health and wellbeing support is only available through phone-based services.
From the moment an application is received, coverage begins.	Does not provide full life insurance directly.

5.3 Company Overview – LV= United Kingdom (UK)

Six London-based lawyers created Legal & General in 1836. It provides a wide range of services and products, such as life insurance, pension, retirement, and investment options. More than 1.5 million consumers are said to be served by the organization today.

The financial services company offers a variety of insurance products in addition to life insurance, such as critical illness insurance, income protection, and business protection.

Industries	Auto Insurance Commercial Insurance Health Insurance Property Insurance Life Insurance
Founded Date	1843
Founders	Stephen Treloar
Headquarters Region	Europe, Middle East, And Africa

5.4 Products & Services – LV= United Kingdom (UK)

1. Level Term Life Insurance
2. Decreasing Term Life Insurance
3. Indexed Term Life Insurance

5.5 Contact Details – LV= United Kingdom (UK)

You can contact company through,

Phone Number	0330 678 5256
Address	Westbourne area of Bournemouth , United Kingdom
Email	[email protected].
Official Website	https://www.lv.com/insurance

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6. Royal London – United Kingdom (UK)

6.1 Why Its Highly Recommended – Royal London United Kingdom (UK)

Online, Royal London provides two simple options: level and decreasing term life insurance with coverage up to £750,000, and whole life insurance. Before a decision is made, the application process is rather quick and does not call for a medical. While critical sickness or income protection can be added at no additional expense, acquiring terminal illness coverage requires consulting a financial advisor.

6.2 Pros & Cons – Royal London United Kingdom (UK)

Pros	Cons
There are two basic term life alternatives offered online.	Above £750,000 in term insurance must be purchased through a financial advisor.
Included at no additional cost is terminal illness coverage.	Not having whole life insurance

6.3 Company Overview – Royal London United Kingdom (UK)

When Royal London was founded in 1861, it was known as the Royal London Life Insurance and Benefit Society, a charitable organization that relied on weekly contributions from the poor to pay for members’ funeral expenses. In 1908, it changed its legal status to a mutual, and now it provides a variety of financial services, including pension and investment, with two main life insurance policies that cover consumers in the United Kingdom between the ages of 18 and 70.

Industry	Financial services
Founded	1861; 162 years ago
Headquarters	London, England, UK

6.4 Products & Services – Royal London United Kingdom (UK)

Term life insurance provided by the company are,

1. Term Life – Level
2. Term Life – Decreasing

6.5 Contact Details – Royal London United Kingdom (UK)

You can contact company through,

Phone Number	0345 602 1885
Address	80 Fenchurch Street, London, EC3M 4BY
Email	[email protected]
Official Website	https://www.royallondon.com/

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7. Vitality Life – United Kingdom (UK)

7.1 Why Its Highly Recommended – Vitality Life United Kingdom (UK)

Vitality is an insurance company that focuses on promoting a healthy lifestyle and lower claims. It offers rewards and discounts for active lifestyles, including Vitality Select rewards for new members and the Optimiser plan for a wider range of benefits. Vitality’s unique model includes a Personal Protection Plan, serious illness cover, income protection, and premium waivers. Premiums can be 30-40% lower than other companies, but may increase based on fitness, activity, and health.

7.2 Pros & Cons – Vitality Life United Kingdom (UK)

Pros	Cons
Offers discounts on wearable devices and gym memberships for improving one’s lifestyle.	Your freedom to shop around may be limited by a membership scheme that ties you down.
Offers an add-on called Optimiser, which keeps track of activity and can cut premiums by up to 40%	To receive discounts, one must uphold and monitor a healthy lifestyle.
Add-on option to provide for a tax-free payout in the event that you or your child develops a serious illness	It could be challenging to get in touch with the business or the appropriate individual for replies in detail.

7.3 Company Overview – Vitality Life United Kingdom (UK)

A UK-based company called Vitality Health specializes in selling private medical insurance to the UK market. The business is a division of Discovery Limited, which also includes Vitality Life and Vitality Corporate Services in its UK insurance portfolio. The business had about 1 million customers in the UK as of 2018.

One of the businesses under the Vitality Group International umbrella is Vitality Health.

Generali (Europe), Softbank & Sumitomo Life (Japan), Ping An Insurance (China), AIA Group (Asia and Australia), Manulife (Canada), John Hancock Financial (USA), and others are only a few of the international partners that the company has.

Customers in South Africa and the US can now get genetic testing through Vitality, which has developed a business model based on behavioral economics and psychological rewards.

Industry	Health insurance
Founded	1994 (acquisition of Prime Health by Standard Life)
Headquarters	London, UK

7.4 Products & Services – Vitality Life United Kingdom (UK)

Vitality Term Life Insurance include,

1. Term Life – Level
2. Term Life – Decreasing
3. Term Life – Increasing
4. Whole of Life Insurance

7.5 Contact Details – Vitality Life United Kingdom (UK)

You can contact company through,

Phone Number	0345 601 0072
Address	3 More London Riverside, London, SE1 2AQ.
Email	[email protected].
Official Website	https://www.vitality.co.uk/

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7. Zurich – United Kingdom (UK)

7.1 Why Its Highly Recommended – Zurich United Kingdom (UK)

Zurich UK offers five types of life insurance policies, including three different term life policies, critical illness and income protection cover. The company has limited coverage offerings, with no lifetime policies and a maximum term of 50 years.

The company also confirms a maximum cover of £43 million, but those interested in over £500,000 may need to apply through an agent. Term life insurance is available to individuals aged 16 to 89, with a maximum start age of 83, and critical illness cover is limited to individuals aged 16 to 69.

7.2 Pros & Cons – Zurich United Kingdom (UK)

Pros	Cons
Lower monthly average prices compared to comparable providers	Factors like as lifestyle and employment determine premiums.
Available online quotations	Generally, there are few policy possibilities.
Financial strength rating of AA by S&P	Does not provide full life insurance directly.

7.4 Company Overview – Zurich United Kingdom (UK)

The largest insurer in Switzerland is Zurich Insurance Group Ltd., which has its headquarters there. The firm was placed 94th in Interbrand’s top 100 brands in 2011, and according to Forbes’ Global 2000s list, it will be the 112th largest public corporation in the world as of 2021.

General Insurance, Global Life, and Farmers make up the three main business segments of Zurich, a multinational insurer. Zurich has 55,000 employees and clients in 215 nations and territories. The business is a SIX Swiss Exchange listed corporation. It had $34.494 billion in shareholders’ equity as of 2012.

Industry	Financial services
Founded	1872; 151 years ago
Headquarters	Zürich, Switzerland

7.5 Contact Details – Zurich United Kingdom (UK)

You can contact company through,

Phone Number	0800 141 2002
Address	70 Mark Lane London EC3R 7NQ
Email	[email protected]
Official Website	https://www.zurich.co.uk/

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8. AIG – United Kingdom (UK)

8.1 Why Its Highly Recommended – AIG United Kingdom (UK)

AIG, a financially stable company, offers a variety of life insurance products, including term life, whole life, and universal life policies. Its global presence is beneficial for international connections and offers innovative solutions, such as healthier lifestyles and rewards, promoting a positive experience for policyholders.

8.2 Pros & Cons – AIG United Kingdom (UK)

Pros	Cons
As a reputable and financially secure insurance provider, AIG gives customers peace of mind that their claims will be honored.	The premiums charged by AIG may be somewhat more than those of some rivals, which may be a deterrent to buyers on a tight budget.
To meet a variety of needs, AIG provides a range of life insurance products, including term, whole life, and universal life plans	While some policy features and options can be complicated, it’s critical that clients completely comprehend the terms and conditions.
Those with ties abroad or those looking for coverage outside of the UK can benefit from AIG’s global presence	While AIG policyholder happiness can vary, it’s important to look into and take into account consumer reviews and feedback.

8.3 Company Overview – AIG United Kingdom (UK)

Is a global financial and insurance company based in the United States with operations in over 80 nations.  The corporation runs through three main divisions: general insurance, life and retirement, and a stand-alone subsidiary with a focus on technology. Commercial, personal, as well as domestic and international field operations are all included in general insurance. Group retirement, individual retirement, life insurance, and institutional markets are all included in life & retirement.  The AIG Women’s Open golf tournament is sponsored by AIG.

Industry	Financial services
Founded	December 19, 1919; 103 years ago Shanghai, China
Founder	Cornelius Vander Starr
Headquarters	New York City, New York, U.S.

8.4 Product & Services – AIG United Kingdom (UK)

Life insurance services provided by the company are,

1. Term Life Insurance
2. Whole Life Insurance
3. Universal Life Insurance
4. Critical Illness Insurance
5. Income Protection Insurance
6. Over 50s Life Insurance

8.5 Contact Details – AIG United Kingdom (UK)

You can contact company through,

Phone Number	0345 600 6820
Address	The AIG Building, 58 Fenchurch Street, London EC3M 4AB
Email	[email protected]
Official Website	https://www.aiglife.co.uk

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9. Scottish Windows – United Kingdom (UK)

9.3 Why Its Highly Recommended – Scottish Windows United Kingdom (UK)

Scottish Widows, a subsidiary of Lloyds Banking Group, is a top choice for life insurance in the UK due to its financial stability, reliability, and diverse range of products. The company is known for exceptional customer service, competitive pricing, and transparent policies. Its innovative solutions and digital tools enhance the insurance process, making it a top choice for individuals and families seeking financial security.

9.2 Pros & Cons – Scottish Windows United Kingdom (UK)

Pros	Cons
AIG is a well-known and financially secure insurance company.	Premiums might be somewhat higher than those of some rivals.
Provides a range of life insurance policies, such as term, whole life, and critical illness insurance.	Certain policy alternatives can be complicated; it’s important to comprehend terms and circumstances.
Recognized for cutting-edge policies and incentives for leading healthy lives.	Policyholder satisfaction levels can vary.
Benefits for people with ties abroad include international coverage.	Must contend with other respectable insurers; which is better will depend on the customer’s requirements.

9.3 Company Overview – Scottish Windows United Kingdom (UK)

 Scottish Widows is a division of the Lloyds Banking Group and a life insurance and pensions organization with offices in Edinburgh, Scotland. Life insurance and pensions are among its available products. From 1815, the business has offered financial services to the UK market. The business sells its goods directly to customers, through independent financial advisers, and in Lloyds Banking Group bank locations. Aberdeen Asset Management purchased the Scottish Widows Investment Partnership’s investment and asset management division in 2013.

Industry	Financial services
Founded	1815; 208 years ago
Headquarters	Edinburgh, Scotland, UK

9.4 Products & Services – Scottish Windows United Kingdom (UK)

1. Term Life Insurance
2. Whole Life Insurance
3. Critical Illness Cover
4. Income Protection Insurance
5. Over 50s Life Insurance
6. Group Life Insurance

9.5 Contact Details – Scottish Windows United Kingdom (UK)

You can contact company through,

Phone Number	44 300 013 2734
Address	Scottish Development International Scotland House 58 Victoria Embankment London UK EC4Y 0DS.
Email	[email protected].
Official Website	https://www.scottishwidows.co.uk

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10. Aegon – United Kingdom (UK)

10.1 Why Its Highly Recommended – Aegon United Kingdom (UK)

Because of the security and dependability of its global finances, Aegon UK’s life insurance comes highly recommended. Aegon provides a variety of life insurance products, such as term, whole life, and critical illness insurance, with the ability to customize contracts to fit customers’ needs and financial constraints. Aegon is a dependable option for obtaining financial protection and peace of mind in the UK because of their customer-centric mindset, dedication to transparency, and use of cutting-edge digital solutions.

10.2 Pros & Cons – Aegon United Kingdom (UK)

Pros	Cons
Because Aegon policies are adaptable, they can be tailored to meet specific demands and financial constraints.	Certain policy options could contain intricate terms and circumstances that demand careful comprehension.
Aegon’s customer care and assistance are well regarded and offer policyholders a satisfying experience.	Policyholder satisfaction levels can vary.
To make the insurance procedure more convenient, Aegon uses digital tools and resources	Several respectable insurers compete with Aegon, and the “best” option will depend on a person’s needs.

10.3 Company Overview – Aegon United Kingdom (UK)

Aegon UK (Aegon) is a financial services company with offices in Edinburgh that specializes in insurance, investments, and pensions.

Scottish Equitable plc, a subsidiary of Aegon N.V., an international life insurance, pension, and asset management corporation with its headquarters in The Hague, the Netherlands, goes by the brand name “Aegon.”

Industry	Financial services
Founded	1831 as Scottish Equitable
Headquarters	Edinburgh, Scotland, UK

10.4 Products & Services – Aegon United Kingdom (UK)    

Aegon provides whole-of-life policies as well as term life insurance policies, which are valid for a predetermined amount of time (which last until you pass away, guaranteeing a payout). You can also get critical illness insurance, which, in the event that you are diagnosed with one of the terrible illnesses on Aegon’s list, provides you a lump sum or a monthly income.

An Aegon life insurance policy requires a minimum age of 18. There is a cap of 83.

10.5 Contact Details – Aegon United Kingdom (UK)

You can contact company thorugh,

Phone Number	+44 (0)3456 100 072
Address	Level 26, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB.
Email	[email protected].
Official Website	https://www.aegon.co.uk/

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11. Nationwide Building Society – United Kingdom (UK)

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11.1 Why Its Highly Recommended – Nationwide Building Society United Kingdom

The recommended life insurance from Nationwide UK stands out for its sound financial standing, large selection of products, and client-focused philosophy. With a solid reputation, a wide range of alternatives, and a dedication to innovation, Nationwide provides the UK with priceless peace of mind when it comes to life insurance.

11.2 Pros & Cons – Nationwide Building Society United Kingdom (UK)

Pros	Cons
Offers a variety of life insurance options to suit individual needs	Premiums might be somewhat higher than those of some rivals.
Nationwide prioritizes customer service and transparency, simplifying policy management.	A careful grasp of some policy concepts is necessary due to their complexity
Provides convenient digital tools for an enhanced insurance experience.	Policyholder satisfaction levels can vary.

11.3 Company Overview – Nationwide Building Society United Kingdom (UK)

Nationwide partners with Legal and General to provide life insurance policies to the UK community. In the United Kingdom, Nationwide is a reputable financial organization that offers a wide range of financial services, including banking, mortgages, and insurance. Nationwide has established itself as a dependable option for people and companies looking for solid financial solutions because to its strong dedication to client satisfaction and financial stability.

Company Name	Nationwide Building Society
Founded	1846
Headquarters	Swindon, England

11.4 Products & Services – Nationwide Building Society United Kingdom (UK)

Life Insurance services offered by the company are,

1. Level Cover Life Insurance
2. Decreasing Cover Life Insurance
3. Critical Illness Cover Policy

11.5 Contact Details – Nationwide Building Society United Kingdom (UK)

You can contact company through,

Phone Number	0345 730 2011
Address	26-27 Eldon St, Moorgate, London EC2M 7LA
Email	[email protected]
Official Website	https://www.nationwide.co.uk/

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12. FAQs – Life Insurance Companies United Kingdom (UK)

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12. Conclusion – Life Insurance Companies United Kingdom (UK)

In conclusion, life insurance is a crucial instrument for people and families in the UK to guarantee their financial future. Policyholders can customize coverage to suit their specific demands and financial constraints thanks to the vast range of reliable insurance companies offering a variety of products. It’s crucial to carefully weigh your selections, taking into account things like your budget, your coverage options, and your customer service. In the end, knowing that loved ones are protected in uncertain times can bring priceless piece of mind when picking the correct life insurance coverage.

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