Updated: November 18, 2019

How to get the best whole life insurance quotes in the UK

Looking for a Whole of Life insurance quote but not sure where to start? The expert advisors we work with are on hand to guide you through the process.

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Tony Stevens

Author: Tony Stevens - Finance Expert

Updated: November 18, 2019

“Whole life” also known as “whole-of-life” insurance, is the main alternative to term life insurance.

This type of policy ensures that, regardless of when you pass away, your beneficiaries will receive a lump sum from your insurer.

Whole-of-life cover tends to be a more expensive option than term insurance for the simple reason that insurers know that they will definitely have to make a payout at some point – provided you keep up with your monthly payments.

If you’re looking for competitive quotes on whole life insurance, this article will be explaining how to get the best quotes, tailored to your needs:

If you want to save time and hassle, call 0808 189 0463 or make an enquiry for a free, no-obligation chat.

We’ll match you with one of the expert advisors we work with who will use their independent, whole-of-market status to search the entire market for the best-priced policy available to you.

Why compare whole life insurance quotes?

The actual cost of your monthly premiums for whole life insurance will depend on how much cover you want (i.e. the desired payout when you pass away), your age, state of health, as well as a number of other lifestyle factors.

If you opt for this type of cover it’s more than likely going to be pricier than term insurance, which is why it’s important to compare quotes on whole life insurance to ensure you get the most competitive, and suitable, deal for your situation.

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What types of cover are available?

Broadly speaking, this type of insurance policy come in the form of “balanced cover” or “maximum cover”. Which type you take out can have a significant impact on how much you’re quoted for whole-of-life insurance.

However, there are also a number of other forms of whole life insurance which will impact the cost:

Quotes for over 50s
Joint quotes
Family quotes

Over 50s life insurance is a specialist type of product, which, as the name suggests, is designed for anyone over the age of 50.

All over 50s policies are whole of life, so you’ll pay monthly premiums from the day you start the plan until you die, or the policy reaches maturity (usually when you reach age 90, although this will vary by insurer).

Due to the nature of over 50s life insurance, whole life insurance quotes for seniors tend to be more competitive than that of “standard” whole life cover. Prices can start as low as £4 a month, although many insurers restrict to between £10-£50.

Of course, there are a number of factors that will affect how much you’ll be quoted for over 50s whole-of-life insurance, such as how old you are when you take out the policy. On the plus side, with over 50s plans, no medical is required.

Joint life insurance is a popular choice for couples and even business partners. This is because a joint policy usually turns out to be cheaper than taking out two separate ones – but it’s not always the most suitable choice for everyone.

Not all insurers offer joint cover, so it’s important to shop around to find the most competitive deals. The team we work with have whole-of-market access to providers representing every sector of the insurance world.

To find the best joint whole-of-life insurance quotes, get in touch and we’ll scour the market to find you cover which is not only cheap but suitable for your specific circumstances.

Our advisers are regulated by The Financial Conduct Authority and so you will be dealing with a highly trained person that adheres to strict rules of conduct.

Some life insurance providers allow you to add cover for other family members, including your children – usually up to a set age, which will be stipulated when you take out the policy with your insurer.

Adding life insurance cover for your child means you receive a payout if they die before you, providing you with financial support if you take time off work to grieve for your sad loss. The payout you choose for yourself is usually much higher than that of your child(ren).

Family life insurance” is an optional add-on to your own plan. But, as mentioned, it’s not something all insurers offer – meaning quotes you receive for family whole life could be pricey.

Your best bet is to talk to one of the experts we work with.  They are independent financial advisors who can compare prices from a huge range of insurers to find the cheapest quotes for this type of combined policy.

Should I compare quotes online using a calculator?

When you’re searching for insurance deals, it can be tempting to turn to online comparison sites because they offer speedy, instant quotes and, supposedly, the “cheapest deals on the market”.

While finding quotes using a whole-of-life insurance calculator can be a good starting point to give you a rough idea on prices, most experts would recommend you speak to a financial advisor before committing to anything.

This is because online calculators can never take all your individual circumstances into account, meaning you can only ever receive very rough estimations of a price you may be charged.

Save time, hassle and money by getting accurate quote comparisons from one of the independent experts we work with. They have the tools and experience to ensure you’re getting the cover you want for the best available price, taking all your circumstances into account.

Make an enquiry for a free, no-obligation chat and we’ll match you with an expert who can help.

Where to find the cheapest quotes instantly

Taking out a whole-of-life insurance policy isn’t something which should be rushed into – after all, this is an outgoing you’re committing to for the rest of your life.

As such, it’s important that cost alone isn’t the determining factor behind your choice. While it’s great to get a cheap deal, if it transpires to be unsuitable for your needs, or some buried small-print prevents it from paying out, it will all be for nothing.

By speaking to one of the independent financial advisors we work with, you’re guaranteed to be fixed up with a plan bespoke to your needs – so you have the peace of mind that your loved ones will be looked after when you pass away.

What’s more, contact us today and we’ll transfer you to an expert who can generate cheap, whole-of-life insurance quotes instantly – meaning same-day coverage! Either submit an online enquiry, or call us on 0808 189 0463.

How does the interest rate impact my quotes?

As well as your personal circumstances, when you take out any form of life insurance, the quotes you receive are impacted by external factors. One of which is how the interest rate is likely to fluctuate throughout the duration of your policy.

For whole-of-life insurance, this is especially prevalent. Depending on how old you are when you take out the policy, your insurers will have to consider how the base rate might change across a far longer time period.

This additional risk posed to providers is another reason that whole-of-life insurance is typically more expensive than term cover, and another reason you should look to seek expert advice to get the most competitive quotes.

Get in touch for guaranteed whole of life insurance quotes

Whole life insurance can be a great option for some people, but it can be expensive, which is why it’s important to speak to an expert who can compare quotes and find deals that are tailored to you.

You can give us a call on 0808 189 0463, or contact us online and the team of specialists we work with will carry out an assessment and provide you with instant whole life insurance quotes.

Ask a quick question

We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in whole of life insurance. Ask us a question and we'll get the best expert to help.

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Tony Stevens

Tony Stevens

Finance Expert

About the author

Tony has worked in a vastly diverse array of areas in the pensions industry for over 20 years. Tony regularly writes for trade press, usually on topical and pensions pieces as well as acting as a judge at prestigious national events.

Tony is also a highly qualified Independent Financial Adviser in his own right. His mantra has always been “Hope for the best, but plan for the worst”, and believes that the biggest impact that an adviser can have on a client’s life journey is to take them on a journey from generally having little or no real idea of what their retirement will look like, to giving them the understanding of what their retirement looks like now, then helping them navigate a path to what they want their retirement to be.

FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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