What is term life insurance?
Term life insurance is life insurance that pays out a one-off lump sum if you become ill or die during the policy’s term. You or your family can use the payout for anything like paying off the mortgage, and other debts.
There’s three types of term life insurance: decreasing, level and increasing. Which type of cover is best for you depends on your individual needs.
How does term life insurance work?
- Choose how long you'd like to be covered for - From five to 70 years.
- Choose how much you want to be covered for - We’ll cover you for up to £18,000,000.
- Pay your monthly premiums - Your premiums are calculated based on things like your age and your current health.
- If you become critically ill during the policy period, you’ll receive a payout. This can help you cover your finances while you recover.
If you haven’t claimed due to illness and you die within the plan’s term, your loved ones will get a payout.
Why choose Vitality's term life insurance?
✓ A brand you can trust - Last year, we paid out 99.5% of life insurance claims1
✓ Award winning life insurance - 5-star Defaqto rated cover
✓ Access to Vitality partner discounts and rewards
✓ Get free cover while we assess your application - Available when you take out our comprehensive option.
Relevant guides and articles
Term life insurance
Term life insurance gives you cover for a specific amount of time. You choose the term, and if you pass away or become ill during that term, your family receive a lump sum.
Mortgage protection insurance
Mortgage protection is a type of life insurance designed to pay off your mortgage.
Life insurance for high-risk occupations
Some jobs or lifestyles expose individuals to more danger. High-risk life insurance covers people who are at a higher risk. Learn how it works, here.
Term life insurance FAQs
How does term life insurance pay out?
How long is term life insurance for?
How much is term life insurance?
How much term life insurance do I need?
What is the difference between term and whole life insurance?
What are the types of term life insurance?
Our personal protection options
Protect your future with our range of award-winning insurance plans. You can combine plans for more comprehensive cover.
Income protection insurance
Income protection insurance pays you part of your monthly income if you get sick and cannot work. It pays out a monthly income rather than a one off lump sum.
Serious Illness Cover
Life insurance pays out if you’re diagnosed with a terminal illness or die. With Serious Illness Cover, you're paid a lump sum if you're diagnosed with one of the conditions we cover. This means you can get a payout for illnesses that may not be life threatening, but still impact your life. You can choose Serious Illness Cover alone, or add it onto your life insurance plan.
Mortgage protection insurance
Mortgage protection insurance is also called decreasing term life insurance. If you become ill or die during the policy term, it pays off the rest of your mortgage so your family can keep their home.