When it comes to protecting your loved ones, term life insurance can be invaluable. With a term life insurance policy, you can rest easy knowing that your family will be taken care of financially if the unexpected happens.

Term life insurance provides more than just a payout – it offers peace of mind . Having this safety net in place can ease financial concerns and increase your sense of security. It’s a means to safeguard your loved ones and guarantee their well-being should anything unexpected happen to you.

At nowsure, we understand that navigating the world of life insurance can be daunting. We get it – insurance can be confusing and overwhelming. That’s why we’re here to explain things to you in simple, everyday language. 

Our goal is to help you feel confident and comfortable with your life insurance decision, so you can enjoy life without worrying about the what-ifs. So if you’re interested in learning more about term life insurance and how it can benefit you and your family, request a call back from us. 

Let our team of experts tailor a term life insurance policy to your budget and requirements – you’ll be in safe hands.


How much life insurance do I need?

It’s impossible to put a precise figure on the amount of life insurance someone might need as everyone’s circumstances are different. First, you’ll need to think carefully about how much you can afford in premiums each month, and whether your employer will pay out in the event of your death, which would mean you don’t have to take out quite so much cover.

If you own a house, you’ll probably want a life insurance pay-out that’s big enough to clear the mortgage if you die. But think about other loans too, such as credit card repayments, as well as regular outgoings such as food and utility bills that your family might struggle to pay without your income. One way to get a starting figure is to multiply your salary by the number of years you need to keep earning. If this makes the premiums too expensive, try to find a compromise between what you can afford and the level of cover you want.

Research by the price comparison website MoneySuperMarket revealed that Brits underestimate their life insurance requirements by almost £140,000, so make sure you do your sums carefully before taking out a policy or chat to one of our advisers for more help.

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nowsure: Making term life insurance work for you

Life insurance can be a cumbersome process, requiring lots of paperwork and too much time out of our already busy lives to shop around for the best plan.

It’s difficult to determine which life insurance provider offers the best coverage for you and most people don’t appreciate having to deal with complex differences between each insurer. Plus, with so many details to fill out, it’s easy to get overwhelmed or make mistakes that could cause your application to be rejected.

nowsure are all about making life insurance accessible and affordable for everyone. We believe that everyone deserves hassle-free insurance, provided by people that care about their needs. That’s why we’re here.

  • With  hassle-free life insurance, you won’t have to worry about navigating all the complexities of finding an adequate policy — because we do the hard work for you.
  • Our team provides  fast approval for most applicationsa clear explanation of all policies
  • We use  plain language and avoid industry jargonproviding all the information you need so that you can make an informed decision in no time at all.
  • You’ll benefit from cover provided from a panel of  top UK insurersso quality cover is guaranteed.

Get started with us today and enjoy peace of mind knowing that your family is protected long after you leave them. Don’t wait, request a call back today.

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What is term life insurance?

Term life insurance is a type of life insurance that provides coverage for a specified period of time, typically between 10-30 years. During this period, if the policyholder dies, their beneficiaries receive a death benefit. This death benefit is typically a tax-free lump sum payment that can be used by the beneficiaries to pay off debts, cover living expenses, or even to pay funeral costs.

A primary attribute of term life insurance is its temporary nature. It is available in a variety of types and categories. The policyholder makes regular payments on a monthly or annual basis, and the insurer agrees to pay a specified amount of money if the policy holder passes away during the active period of the policy, provided that all conditions and terms are met.

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The three main types of term life insurance 

Various term life insurance policies are available , each with its own distinct qualities and advantages. This section will examine the three primary kinds of term life insurance policies: level term, decreasing term, and increasing term, to assist you in determining which one might be suitable for your requirements.

Let’s dive in: 

Decreasing term life cover

A decreasing policy offers decreasing coverage, often for a particular debt or mortgage that also decreases with time. The main objective of this policy is to ensure that any outstanding debts are settled after the policyholder passes away.

  • The premium for the policy remains constant and represents the total cost of the coverage from start to finish.
  • This policy is designed for individuals with a temporary requirement for life insurance, such as paying off short-term debts like repayment mortgages (interest-only mortgages are more suitable for level term cover).
  • For this type of insurance to be effective, it’s essential to precisely calculate the debt and interest and inform the insurer of any changes.


  • Premiums are typically lower than other types of term policies because of the structure of it
  • This type of policy removes the stress of paying off mortgage debt if the worst was to occur
  • It is a cost-effective way to provide coverage for a specific financial obligation


  • The amount of coverage decreases over time, so it may not provide adequate coverage for long-term financial needs.
  • If you outlive the policy, your beneficiaries will not receive any payout.

Level term life insurance

Under a level term policy, the policy holder pays a level premium for a predetermined period of time, which is referred to as the ‘term’. During this time, if the policy holder passes away, the beneficiaries named in the policy receive a predetermined amount of cash, which is typically tax-free. The cash payout amount remains the same throughout the term of the policy, hence the name ‘level term’.

The payout from the policy can be used in several ways, including debt reduction, providing an inheritance to loved ones, or helping with financial matters for dependents. 

Level cover is popular due to their flexibility, affordability, and ease of use. The term length of the policy usually ranges from 10-30 years, depending on the needs of the policy holder and their beneficiaries. 


  • Provides a fixed amount of coverage for a specific period, which can help with long-term financial planning
  • The premiums remain the same throughout the term, making it easier to budget outgoings
  • It can be less expensive than whole life insurance policies


  • If you outlive the policy, your beneficiaries will not receive any payout
  • The premiums can be more expensive than other types of term life insurance policies, such as decreasing term life insurance
  • You have the option to extend your coverage and pay monthly fees after your initial term. Opting to do this may result in a substantial increase in your premiums.

Increasing term life cover

Increasing term life insurance is a life insurance policy that provides a growing benefit as time passes. The primary purpose is to ensure that inflation doesn’t have a negative impact on your payout. Simultaneously, the price of your policy can also rise.

The method of implementing these increases will vary based on your service provider. Typically, the standard process involves an yearly assessment of your coverage.


  • An increasing term policy can provide protection against inflation by increasing the coverage amount over time
  • With this particular type of term life insurance, it is possible to increase coverage in the future without the need to reapply or undergo another medical examination


  • The premiums of an increasing term policy increase over time, which can make the policy expensive in the long run.
  • If you outlive the policy, your beneficiaries will not receive any payout
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Want peace of mind knowing your loved ones' future will be financially protected should the worst happen? Even if the financial future of your family looks stable without you, life insurance can help with funeral expenses, provide an inheritance, or cover extra childcare costs.

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Term Life Insurance

This type of policy offers a fixed sum assured, where the cover and premiums stay the same for the duration of your cover period, unless you make a change to your policy. This form of cover is also known as 'level term' life insurance.


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Your most common life insurance questions answered.

Put simply, life insurance works by paying a premium each month to your provider, which you’ll have to keep up for the duration of your policy. On your death, the people named in your policy (called your beneficiaries) will receive a tax-free lump sum or regular payments. How much this is depends on the level of cover you have chosen. And, of course, it’s also on the proviso that you die within the specified term of your policy.

It’s always advisable to compare life insurance quotes before taking out a policy. You and your family’s individual circumstances will determine how much cover you need and what you’ll have to pay in premiums. Other factors that may impact your life cover quote include your age and medical history.

Generally speaking, your life cover should start as soon as your application has been approved. This means that your loved ones will receive a pay-out whether you die in the first, fifth, 15th or 25th year of your insurance, as long as the policy has not run its term.

In some instances, however, the terms and conditions of the policy state that a waiting period is in place, so always read the details carefully before signing. This can happen in the case of a death by suicide, for example, where an exclusion period of 12-24 months from the start of the policy may apply.

Compare multiple life insurance quotes to get a good idea of how much cover will cost you. It can start from as little as £5/month – possibly less than what you’re paying for your monthly Netflix subscription – but will vary depending on how much you want the policy to pay out, how long you want it to last, and other factors such as your age, medical history and lifestyle, including whether you smoke.

Don’t be tempted to lie about your circumstances to get a cheaper policy – any inaccuracies may invalidate a future claim. And remember that the best (by which we mean the cheapest) time to take out a policy is when you’re young and healthy, so don’t put it off either.

Life insurance is often an affordable way to make sure your family stays afloat financially when you pass away. But its benefit is only truly maximised if it covers everything you want it to. Comparing life insurance on price level alone could mean your loved ones lose out for the sake of a just few pence more in your pocket each month. 

A smarter way to compare life cover is to be clear in your mind exactly what type of policy you’re after, how long you need it for and how much you want it to pay out. Once you’ve found several that meet your criteria, however, choosing the cheapest life insurance from the selection can make perfect sense. Always make sure you can afford the monthly premiums before you commit.

The most common policies are known as term life insurance. These cover you for a fixed amount of time and usually fall into two categories – decreasing term life insurance and level term life insurance.

Let’s start with decreasing term, which lets you choose how long you want the policy to run for. You’ll pay a monthly premium until that date, after which the policy ends and you’ll no longer be covered. The amount paid out decreases over time (hence the name), but you usually use this type of insurance to cover a mortgage, which also goes down with time too.

A level term policy, meanwhile, promises a lump sum for loved ones that always stays the same, whether you die in the first year of the policy, or the penultimate one. As a result it’s usually a bit more expensive than decreasing term insurance.

While the policies described above will cover you for a fixed amount of time, whole of life insurance has no ‘expiry date’. Your partner or children will receive a pay out whenever you die, and consequently this cover is a costlier option. It is often used to ensure a funeral can be paid for, or as part of inheritance tax planning.

Life insurance can cover your remaining mortgage, the rent, monthly bills, or loans and credit cards so there’s no immediate financial pressure on your loved ones if you die.

But it can also cover things like school and higher education, or childcare if your death necessitates this additional cost.

Sometimes the lump sum can be used as a gift, or simply to cover the cost of your funeral so it doesn’t come out of the family savings.

Term life insurance only offers cover for a limited period of time. After your policy expires, you can’t claim any pay-out and the premiums you’ve put in won’t be returned.

An exception is return-of-premium life insurance, which will essentially refund what you’ve paid – but at the cost of much higher premiums while the policy lasts. What’s more, you usually have to hold the policy for the entire term and make all payments to get your money back.

Most people simply accept that life cover, like other types of insurance, is about weighing up the risks of not having it against the price you pay if you don’t need to claim. The peace of mind of knowing your family will be looked after if the worst happens often makes the decision easier.

When you near the end of a life insurance policy, it’s worth considering whether you still need cover. If your mortgage is paid off and your children have flown the nest, then you may not require it anymore. If you do want to continue, you could buy another policy or apply to extend your current one. But bear in mind your premiums are likely to be higher than they were for your original policy now that you’re older, and you may not meet all eligibility criteria.

Generally speaking, you’ll pay less for life cover the younger and healthier you are so, if you think you need it, it’s sensible to compare life insurance quotes as early as possible.

There are several events in life that inevitably make the question of whether to get life insurance more urgent. Buying a new home and taking out a mortgage is an obvious one. If you die before the loan is repaid, the responsibility for it will fall on your loved ones instead, so you need to think about whether they’ll be able to shoulder this without your income.

For other people, having a baby is their trigger to consider life cover. According to Child Poverty Action Group raising a child to the age of 18 in the UK in 2021 stood at £160,692 for a couple and £193,801 for a lone parent. Having a life policy in place, at least until children reach financial independence or have finished school, can give you peace of mind they’ll be provided for when you’re gone.

Even if you don’t have children, getting married or making any other long-term commitment to a partner can also be a reason to research life insurance. Whether you opt for a single or joint life insurance policy, your partner will be financially cared for on your death.

Life insurance is also relevant if you’re planning for a funeral and/or inheritance. According to the SunLife Cost of Dying Report 2022, the cost of a basic funeral in the UK was £4,056 in 2021. The lump sum your loved ones receive can be used to cover this, rather than it coming out of their own pockets. Alternatively the pay-out can make a difference for anyone looking to leave money to their children without inheritance costs. You can take out a whole-of-life insurance policy, which lasts until your death, to cover the inheritance tax bill you expect your heirs to have to pay.

Life insurance provide peace of mind that your partner or children with be financially looked after when you’re not around to do it yourself. If your dependants are still in school (or younger), or if your partner relies on your income it’s especially worth looking into. Ditto if your family is living in rented accommodation or in a house with a mortgage that you pay. If there’s any doubt they could keep up repayments without your salary, life insurance could be a solution.

Even if the long-term financial future of your family looks relatively stable without you, life insurance can be helpful to cover funeral expenses, provide an inheritance, or cover extra childcare costs if you’re not around.

Not everyone needs life cover. Some already have a policy through their employer, others may feel their partner earns enough for the family to live on. If you’re older and your children have flown the nest, it might also be unnecessary. The key question to ask yourself is whether your death would have a financial impact on the people you care about.