Life Insurance
Life insurance has two quite different uses that are often confused. Term cover protects your family financially if you are gone — it is inexpensive and particularly important with a mortgage or young children. Endowment cover combines protection with building up funds over a set period. We explain honestly which of the two fits your situation, including when the answer is “neither”.
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What it covers
Term life cover
Pays the agreed sum to your family on death during the policy term. There is no savings element — which is why it is cheap and allows a high sum insured for a low premium. The most rational choice for family protection.
Endowment (savings) policy
Pays out at the end of the term if you are alive, or to your family if not. Suited to a long-term goal — a child’s education, a pension top-up. It is important to compare the real return, not just the headline sum.
Critical illness cover
An add-on clause paying a lump sum on diagnosis of a listed serious illness — while you are alive. In practice often more useful than the base cover itself.
Mortgage life cover
Banks require life cover when granting a mortgage. You are not obliged to take it through the bank — we compare terms and often find a significantly better deal for the same cover.
What it does not cover
- Death by suicide during the policy’s initial years.
- Conditions that existed and were known before inception and were not declared.
- Death while committing a criminal offence.
- Hazardous activities expressly excluded by the policy.
What we need to quote
- ID card.
- A health declaration, and for higher sums a medical examination.
- Details of the beneficiaries.
Why through Soners
- We tell you plainly when term cover is the more sensible choice than an endowment — even when the latter would earn us more.
- We compare the real return on savings programmes, not the advertised figures.
- We help complete the health declaration correctly — an undeclared fact is the most common reason a payout is refused.
- With a mortgage we compare the bank’s offer against the market and show you the difference.
About the price
For term cover the premium depends on age, health and the sum insured, and is surprisingly low at a young age. For an endowment it is driven by the target sum and the term.
Frequently asked questions
A practical rule: enough to clear outstanding obligations (mortgage, loans) plus three to five years of household income. Having an adequate sum matters far more than having many add-on clauses.
It is primarily protection with a savings element, not an investment product. If pure return is your goal there are usually better instruments. If you want saving discipline plus protection, it makes sense. We will tell you honestly which of the two you are after.
Yes, in most cases. The bank requires a certain level of cover, not a particular insurer. We check your loan terms and, where permitted, offer you a better-value alternative.
Would you like a quote for Life Insurance?
We compare the offers of every leading insurer and come back to you with the best one. Free and with no obligation.