The UK's Best Life Insurance Companies 2023
This article was last updated:
A run-down of the Top 10 providers of life insurance in the UK, according to independent research.
This article was last updated:
A run-down of the Top 10 providers of life insurance in the UK, according to independent research.
Making a smart decision about which life insurance company to choose can be hard. The stakes can be high - it's for life after all. That's why we've rounded up research on the UK's best-known life insurance companies.
Read on to learn:
According to research by the leading insurance broker Reassured, these are the UK's very best life insurance providers.
How do they know? They did what academic researchers would call a "meta-analysis", combining the ratings produced by four other companies.
Remember: Term Life Insurance covers for a set time (the "term"). If you're still alive when the policy ends, you won't get anything back in return for the premiums you've paid. But on the bright side, you'll still be alive!
Remember: Whole of life policies guarantees a lump sum pay out on your death, but the monthly premium you have to pay can change based on the performance of the underlying assets the life insurance company invests in, and other factors.
Remember: Over 50s life insurance is a type of "whole of life" insurance policy designed for those aged 50-80, with no medical questionnaire. However, it typically features a qualifying period of up to 2 years. If you pass away during that time, your family will get back any premiums you've paid - but not the full pay out (or "sum assured").
The best type of life insurance very much depends on your individual circumstances. For instance:
If you have a mortgage, you may want to consider a term life insurance policy, which will provide coverage for a specific period of time (usually 10-30 years).
If you have young children or other dependents, you may want to consider a whole of life insurance policy, which will provide coverage for your entire life.
Legal & General is a UK-based life insurance company with a long history dating back to 1836. The company was founded by a group of lawyers and businessmen in London, and it quickly became one of the leading life insurers in the UK. Legal & General has always been a pioneer in the life insurance industry, and it was one of the first companies to offer life insurance policies to women. The company has weathered many storms over the years, including the global financial crisis of 2008, but it remains a strong and reliable provider of life insurance coverage.
You can read more about Legal & General life insurance in our review.
Founded in 1843, Liverpool Victoria is one of the UK's oldest and most respected life insurance companies. From its humble beginnings as a mutual aid society for local workers, LV has grown to become a major player in the UK life insurance market.
Learn more about LV= life insurance.
Aviva is one of the world's largest insurance companies, with a presence in over 50 countries. Founded in London in 1696, Aviva has a long and proud history of serving its customers and providing them with peace of mind in the face of life's uncertainties.
Read our expert review of Aviva life insurance.
Scottish Widows is a life insurance company with a rich history dating back to 1815. Founded by the Church of Scotland to help widowed women and orphans, Scottish Widows has grown to become one of the UK's leading life insurers.
There's more about Scottish Widows in this review.
Vitality Life is a relatively new life insurance company, having been founded in 2004. However, in that short time, it has established itself as a leading provider of life and health insurance products, through sports sponsorship and product innovation.
Read out complete Vitality Life insurance review here.
Royal London is a life insurance company with a long and proud history, dating back to 1861. It is one of the UK's leading insurers, with a wide range of products designed to meet the needs of its customers. Royal London is part of the Royal London Group, which also includes Scottish Life, Royal London Asset Management and Scottish Widows. The group has over six million customers and employs over 4,000 people. Royal London is committed to providing excellent customer service and to making a positive difference to the lives of its customers. It is a member of the Association of British Insurers and is regulated by the Financial Conduct Authority.
Read more in our Royal London deep-dive review.
AIG is one of the world's largest insurance companies, with a presence in over 130 countries. Founded in 1919, AIG has a long history of financial strength and stability (if you ignore its government bailout in 2008), making it one of the most trusted names in the insurance industry. AIG offers a wide range of insurance products, including property and casualty, life, and specialty lines. AIG is also a leading provider of retirement and investment products and services.
We reviewed AIG life insurance in this article, in case you want to know more.
Aegon is a Dutch life insurance company founded in 1993. It is one of the world's leading insurers, and has operations in more than 20 countries. Aegon's product range includes life insurance, pensions, investments and health insurance. The company is headquartered in The Hague, Netherlands. Aegon has over 30 million customers and employs approximately 33,000 people. In 2017, Aegon's revenue was €26.9 billion and its operating profit was €2.1 billion.
Read our expert review of Aegon here.
Zurich is one of the world's oldest and largest insurance companies. Founded in 1872, Zurich has a long history of financial strength and stability. Today, Zurich is a leading provider of life insurance and other financial services products. Zurich is headquartered in Zurich, Switzerland and has operations in more than 200 countries and territories around the world.
Learn more in our review of Zurich's life insurance products.
SunLife is a leading provider of life insurance and other financial services products. SunLife is headquartered in Toronto, Canada and has operations in more than 20 countries and territories around the world.
Old Mutual is a leading provider of life insurance and other financial services products. Old Mutual is headquartered in London, United Kingdom and has operations in more than 40 countries and territories around the world. Old Mutual has a long history of financial strength and stability and is committed to providing quality products and services.
Read more about Old Mutual's life insurance policies in our review.
Life insurance can be a tax deductible business expense in certain cases. For example, if the life insurance policy is taken out on a key employee, the premiums can be deducted as a business expense. Additionally, if the life insurance policy is used as collateral for a business loan, the
Our experts review costs, policy features, and customer feedback on LV='s range of Life Insurance policies.
Get the low-down on Royal London's life insurance policies, from prices to customer feedback to claims.
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