Co-op Life Insurance Review

Co-op is a UK-based insurance company that offers a range of insurance products, including car, home, life, and travel insurance.

In this guide:

• The History of Co-op
• What Life Insurance policies does Co-op offer in the UK?
• How much does Life Insurance from Co-op cost?
• What do customers say about Life Insurance from Co-op?
• The pros and cons of Co-op Life Insurance
• Claiming from Co-op

The History of Co-op

Co-op Insurance, formerly The Co-operative Insurance Society (CIS), is a UK insurance company owned by The Co-operative Group. It was formed in 1867 to provide members of the UK Co-operative movement with fire and life insurance. In 2012, it had four million customers and employed over 4,000 people. In 2013, it launched a new advertising campaign with the strapline "A bit more me", which was designed to show that its products are designed for the individual, not just for groups. In 2015, the company was ranked as the seventh most trusted brand in the UK by the Brand Trust Report.

What Life Insurance policies does Co-op offer in the UK?

Based in the UK, Co-op offers life insurance policies that are designed to give policyholders financial protection in the event of their death. The death benefit can be used to help pay for funeral expenses, outstanding debts, or to provide financial support for loved ones. Co-op also offers a range of other financial services, including banking, investments, and pensions.

How much does Life Insurance from Co-op cost?

The cost of Life Insurance from Co-op varies depending on the age of the customer. For example, a 40-year-old UK customer would pay £9.60 per month, while a 60-year-old UK customer would pay £37.80 per month.

What do customers say about Life Insurance from Co-op?

Co-op's UK customers have generally been happy with their Life Insurance policies. The company is known for providing good customer service and for being easy to work with. However, some customers have complained that the premiums are too high and that the coverage is not as comprehensive as they would like it to be.

The pros and cons of Co-op Life Insurance

There are a few things to consider when looking at Co-op's UK Life Insurance policies. The first is that they offer two different types of coverage - whole life and term life. Whole life insurance covers you for your entire life, while term life insurance only covers you for a specific period of time. This is important to consider because it will affect how much coverage you need and how much you will pay for the policy. Another thing to consider is that Co-op offers both level and decreasing life insurance coverage. Level coverage stays the same throughout the policy, while decreasing coverage decreases as you get older. This is important to consider because it will affect how much you will pay for the policy and how much coverage you will need. Finally, it is important to compare Co-op's UK Life Insurance policies to other policies on the market. This will help you make sure that you are getting the best possible deal on your coverage.

Claiming from Co-op

The most recent statistics we have on Co-op Life Insurance claims are from 2018. In that year, we paid out 97.1% of all valid life insurance claims – which is slightly below the UK industry average.