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Term Life Insurance

A term life insurance policy can provide you with life insurance across a set period of time. Get in touch with The Insurance Surgery to discover the best policy for you.

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What Is Term Life Insurance?

Term life insurance offers your beneficiaries a lump sum payout if you pass away within the agreed-upon policy term. Unlike whole of life insurance, you can choose a set term to pay monthly premiums across, be it 10 years, 20 years or more. You can contact us to determine what term length would best suit your insurance needs!

There are a range of reasons why people take out term life insurance. These can include:

Replacing a loved one's lost income

Covering funeral costs

Repaying debts

Leaving behind a lump sum for the family

How Does Level Term Life Insurance Work?

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Complete form
STEP 2
Speak to us about your needs
STEP 3
We’ll search the market
STEP 4
We recommend the best product to suit your needs
STEP 5
Tell us when you want it to start!

Term life insurance allows you to take out a policy that covers a time period that is suitable for you. It means that should you die or be given 12 months to live within your term, your insurer will provide your beneficiaries with a lump-sum payout. It tends to be popular amongst people seeking life insurance because the premiums are generally lower than those of whole of life insurance.  

You should also be aware that there is a selection of term life insurance policies to choose from:

Level Term Life Insurance

Level term life insurance allows you to agree with insurers upon set, un-changing premiums and payouts. This means that if you die during your policy term, your family is certain to receive the amount that you initially chose when taking out insurance.  

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Decreasing Term Life Insurance

Popular amongst those keen to pay off mortgages, decreasing life insurance pays out less over time. This policy tends to decrease in line with your mortgage repayments, making it useful for paying off the home at the end of the term.

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Before we can secure you a suitable policy, however, you will be required to give information regarding:

Your age

Your medical history

Your career

Your smoker status

How long you need the cover for

How much cover you need

You should consider life insurance if you have…

Dependants, like school-age children.

A partner who relies on your income.

A family living in a mortgaged or rented home.

In the event of your passing, a life insurance policy can provide financial support for your loved ones. You could also consider funeral cover, which pays for funeral expenses – easing the burden on your family during a difficult time.

However, you should check if you’re already covered through your employer’s benefits package, which often includes ‘death in service benefits’ linked to your salary. If so, you might not require an additional policy, BUT keep in mind that leaving your job or being made redundant could leave you without any cover!

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  • 15 Minute Read Time

Do You Need Life Insurance?

If you’re the primary breadwinner or share financial responsibilities, a life insurance policy can help your family maintain their standard of living in the unfortunate event that you’re no longer around to support them.

Read More

Life Cover Terminology

Understanding life insurance terminology is essential for policyholders to make informed decisions about their cover, we have broken down the meaning for some of the most used terms.
Read More

Why Choose The Insurance Surgery?

Rated ‘Excellent’ on Trustpilot.

We take pride in the experience that we offer, guaranteeing excellent service at all times.

25 years Experience.

With 25 years of specialist life and protection experience, we can find the perfect policy for you.

Access to a range of insurers.

With a broad selection of partners, we are well-equipped to find the best insurance deals for you.

Award-winning broker.

Known for making insurance simple, The Insurance Surgery is a trusted, award-winning broker.

How Much Does Term Life Insurance Cost?

The cost of term life insurance ultimately depends on two main factors: the length of the policy and the payout amount. On top of this, insurers must also consider factors like your medical history, age, etc, before offering you a quote.

A dedicated expert at The Insurance Surgery can offer you a better idea of just how much you should expect to pay for term life insurance depending on your circumstances, so don’t hesitate to get in touch – we’re more than happy to lend a helping hand!

For a clearer idea of the average cost of life insurance, visit our Guide.

How Much Term Life Insurance Do You Need?

Before we can work out how much your term life insurance quotes may cost, we should probably start with how much cover you actually need. We don’t expect our clients to have a specific number in mind, but it’s good to have an idea!

We’ve got our calculators at the ready, but there are a few things we’ll need to have a better understanding of before we can work out how much term life insurance you need to protect your family’s finances. We’ll need to ask about:

Your family’s expenses

Your family’s income

Any debts you may have

The amount of people dependent on your income

The potential costs of your funeral

The amount of financial support your family will need

Once we have this information, we can help you determine exactly how much cover you’ll require to ensure the financial stability of your beneficiaries after your death.

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How much cover do you need?

You can use our Cover Calculator below to determine how much cover you need. Additionally, you will need to take into consideration the following:

Speak to our team of experts for FREE
specialist advice today.

Monday to Thursday:

9:00am – 8:00pm

Friday:

9:00am – 3:00pm
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Call us on 0800 083 2829

Facts About Life Insurance.

Life insurance can serve multiple purposes, including income replacement, wealth transfer, estate planning, and business succession. But how does life insurance shape up with the UK population?

7.5 million families

in the UK have no life insurance or critical illness cover.

£40,000

The average life insurance policy in the UK covers only about £40,000.

28%

of UK adults believe life insurance is too expensive.

30%

of people get life insurance due to becoming a parents

Forbes Advisor, 2025

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Frequently Asked Questions

Can I change my term life insurance to whole life?

Most term life insurance policies allow you to switch to whole of life policies. If you’re considering changing your policy, get in touch with The Insurance Surgery, and we will contact your insurer. From there, we can assess your new policy and determine whether we can find better matches elsewhere. 

If you’re looking to extend your term life insurance, you will need to have a new policy underwritten and started. This will mean that the price of your cover will change and will most likely increase.

Yes, generally, you can cancel your term life insurance policy. Your term life insurance agreement only stands if you continue to pay your monthly premiums, so if you’re looking to cancel, contact us and we can get in touch with your insurer.

Term life insurance pays out a lump sum to your beneficiaries after you die or are given 12 months to live within the policy’s term.

Understanding exactly what you need from an insurer can be difficult, but with the help of our dedicated experts, insurance can be made simple. The Insurance Surgery has over 25 years of experience in matching people up with the perfect policies to suit their needs. So you can rest assured we can find the best term life insurance quotes for you.

Get in touch with The Insurance Surgery today, and let us help put your mind to rest and protect the financial futures of your family.

Life insurance is unique – just like you.

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Speak to our team of experts for FREE
specialist advice today.

Monday to Thursday:

9:00am – 8:00pm

Friday:

9:00am – 3:00pm
Get a Quote
Call us on 0800 083 2829

Speak to our team of experts for FREE
specialist advice today.

Monday to Thursday:

9:00am – 8:00pm

Friday:

9:00am – 3:00pm
Get a Quote
Call us on 0800 083 2829
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Copyright © 2025 The Insurance Surgery Ltd. The Insurance Surgery is authorised and regulated by The Financial Conduct Authority. We are entered on the Financial Services Register No 401425 at https://www.fca.org.uk Registered in England and Wales. No 5137288. Registered and trading from 2nd Floor, Pickford Street Mill, Pickford Street, Macclesfield, SK11 6JD The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

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