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Life Insurance

  • From just £5 a month, your loved ones receive a pay-out if you die or are diagnosed with a terminal illness
  • Cover from £5,000 to £500,000

Post Office Money® Life Insurance is provided by Aviva Life & Pensions UK Limited

How it works

Life Insurance can help provide for your family

Any UK resident aged between 18 and 66 can apply and monthly premiums are paid by Direct Debit. The policy has no cash-in value.

There are four main questions to consider when you’re taking out Life Insurance:

1. How much?

We can provide life insurance for up to £500,000, and with premiums starting from just £5 a month, you can decide how much cover you want or how much you can afford each month. Your age, medical history, whether you smoke and the length and type of cover you'd like will be taken into account when calculating your monthly premium.

2. How long?

How long do you want cover to last for? If you have dependants (e.g. children), think about how long it will be before they are out of education, earning and not dependent on you anymore. The length of the cover will have an impact on your monthly premium.

3. What level of cover?

You can choose between Level and Decreasing Cover. With Level Cover the lump sum payable will remain fixed throughout the term of your policy. With Decreasing Cover the lump sum will decrease over the term of the policy, and therefore the amount paid out in the first year would be greater than the amount paid out in the final year.

4. What type of cover?

Choose from Single Cover for one person or Joint Cover for two people. You can select Joint Cover if you’re husband and wife, common law partners, civil partners or sharing a mortgage or loan and if one person would suffer financial loss if the other person dies. If you choose Joint Cover, the lump sum will be paid out once when one person dies then the policy would end. If you would like cover for each person individually, choose two single policies. Then if one person dies the other single policy will still continue for the other person.

Paying out your policy

If you die during the policy term or are diagnosed with a terminal illness with a life expectancy of less than 12 months, except within the last 18 months of the policy term, a lump sum payment will be made.

The Terminal Illness Benefit will only be payable on one occasion and upon payment the policy will end.

If you fail to make your payments, your policy and your cover will be cancelled 30 days after the payment was due and you’ll get nothing back.

If you don't provide any information we ask for, we may not pay out under the plan or we may amend or cancel a policy if the information you provide isn't complete, accurate and truthful.

The plan is not guaranteed to pay off your loan (if this is the purpose of the plan).

The plan has no cash in value. The policy ends if you stop paying premiums during the payment term. Your sum assured is dependent on your age and your chosen monthly premium.

We do not provide advice or personal recommendation about Post Office Money Life Insurance. You will need to make your own decision that it is suitable for your needs.

How much?

Your monthly premium will depend on a number of things, including the level, type and length of cover, medical history, your age and whether or not you smoke. Some typical monthly premiums are shown below. You can apply for life insurance if you are between 18 and 66 years of age.

Here are some examples of monthly Life Insurance premium costs. You’ll receive your premium costs upon assessment of your application.

Level term monthly premiums

Cover for a period of 25 years
  £100k £150k
Age at the next birthday Smoker Non-smoker Smoker Non-smoker
20 £9.75 £8.84 £13.06 £10.19
25 £10.29 £8.84 £13.47 £10.27
30 £11.80 £8.85 £17.01 £10.38
35 £17.82 £10.90 £25.58 £14.00
40 £29.48 £14.60 £38.33 £20.10

 

Decreasing term monthly premiums

Cover for a period of 25 years
  £100k £150k
Age at the next birthday Smoker Non-smoker Smoker Non-smoker
20 £8.90 £5.00 £11.65 £5.89
25 £9.29 £7.64 £11.65 £9.03
30 £10.37 £8.43 £13.59 £10.21
35 £13.62 £9.78 £18.57 £11.99
40 £20.31 £12.78 £28.45 £16.24

Your monthly premium will depend on a number of things, including the level, type and length of cover, medical history, your age and whether or not you smoke. Some typical monthly premiums are shown below. You can apply for life insurance if you are between 18 and 66 years of age.

Here are some examples of monthly Life Insurance premium costs. You’ll receive your premium costs upon assessment of your application.

Level term monthly premiums

Cover for a period of 25 years
  £100k
Age at the next birthday Smoker Non-smoker
20 £9.75 £8.84
25 £10.29 £8.84
30 £11.80 £8.85
35 £17.82 £10.90
40 £29.48 £14.60
Cover for a period of 25 years
  £150k
Age at the next birthday Smoker Non-smoker
20 £13.06 £10.19
25 £13.47 £10.27
30 £17.01 £10.38
35 £25.58 £14.00
40 £38.33 £20.10

 

Decreasing term monthly premiums

Cover for a period of 25 years
  £100k
Age at the next birthday Smoker Non-smoker
20 £8.90 £5.00
25 £9.29 £7.64
30 £10.37 £8.43
35 £13.62 £9.78
40 £20.31 £12.78
Cover for a period of 25 years
  £150k
Age at the next birthday Smoker Non-smoker
20 £11.65 £5.89
25 £11.65 £9.03
30 £13.59 £10.21
35 £18.57 £11.99
40 £28.45 £16.24

 

Which plan
  Over 50's Life Cover Life Insurance - Level Life Insurance - Decreasing
  For customers between 50-80 years of age at commencement For customers between 18-66 years of age at commencement For customers between 18-66 years of age at commencement
Purpose Provides a lump sum when you die that can help your family with funeral costs or clear debts

Provides a lump sum if you die during the term of cover

It can be used to provide for your dependants and/or help pay off a mortgage

Provides a lump sum if you die during the term which decreases throughout the term of the cover.

Typically used to help pay off a repayment mortgage

Pays out a fixed lump sum Yes - pays out a fixed lump sum after 12 months or on accidental death in the first year Yes No - pays out a lump sum if you die during the term which decreases throughout the term of cover
Pays out on terminal illness No Yes - it will pay out if you are diagnosed with a terminal illness with less than 12 months to live, provided this does not occur in the last 18 months of cover Yes - it will pay out if you are diagnosed with a terminal illness with less than 12 months to live, provided this does not occur in the last 18 months of cover
Maximum Sum Assured (based on individual circumstances) Up to £20,272  (double for accidental death after the first 12 months)

Up to £500,000

 

 

Up to £500,000

 

We will only provide you with information about Post Office Money Over 50's Life Cover, Post Office Money Decreasing Life Insurance and Post Office Money Level Life Insurance from a single provider.

 

  Over 50's Life Cover
  For customers between 50-80 years of age at commencement
Purpose Provides a lump sum when you die that can help your family with funeral costs or clear debts
Pays out a fixed lump sum Yes - pays out a fixed lump sum after 12 months or on accidental death in the first year
Pays out on terminal illness No
Maximum Sum Assured (based on individual circumstances) Up to £20,272  (double for accidental death after the first 12 months)

 

  Life Insurance - Level
  For customers between 18-66 years of age at commencement
Purpose Provides a lump sum if you die during the term of cover

It can be used to provide for your dependants and/or help pay off a mortgage
Pays out a fixed lump sum Yes
Pays out on terminal illness Yes - it will pay out if you are diagnosed with a terminal illness with less than 12 months to live, provided this does not occur in the last 18 months of cover
Maximum Sum Assured (based on individual circumstances) Up to £500,000

 

  Life Insurance - Decreasing
  For customers between 18-66 years of age at commencement
Purpose Provides a lump sum if you die during the term which decreases throughout the term of the cover.

Typically used to help pay off a repayment mortgage
Pays out a fixed lump sum No - pays out a lump sum if you die during the term which decreases throughout the term of cover
Pays out on terminal illness Yes - it will pay out if you are diagnosed with a terminal illness with less than 12 months to live, provided this does not occur in the last 18 months of cover
Maximum Sum Assured (based on individual circumstances) Up to £500,000

Definitions

0800: All calls to 0800 numbers are free of charge whether made from a landline or mobile phone. Calls may be monitored or recorded for training and compliance purposes.

0845: Calls cost 2.4p (the service charge) per minute plus your phone company’s access charge. Calls may be monitored or recorded for training and compliance purposes.

Look after your loved ones

Small print

Post Office Money® Life Insurance is arranged by Post Office Limited and Aviva Life & Pensions UK Limited and underwritten by Aviva Life & Pensions UK Limited. 

Post Office Limited is an appointed representative of Post Office Management Services Limited which is authorised and regulated by the Financial Conduct Authority, FRN 630318. Post Office Limited and Post Office Management Services Limited are registered in England and Wales. Registered numbers 2154540 and 08459718 respectively. Registered Office: Finsbury Dials, 20 Finsbury Street, London EC2Y 9AQ. Post Office Money and the Post Office Money logo are registered trademarks of Post Office Limited.

Aviva Life & Pensions UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, FRN 185896. Aviva Life & Pensions UK Limited is registered in England and Wales. Registered number 03253947. Registered Office: 2 Rougier Street, York, YO90 1UU. 

You can check this on the Financial Services Register by visiting the website www.fca.org.uk/register or by contacting the Financial Conduct Authority (FCA) on 0800 111 6768.

Get life insurance

Get the facts

Can we help?

To get a quote over the phone or for general enquiries call:

0800 096 5489 8am-8pm, Mon-Fri
9am-6pm, Sat
10am-4pm, Sun

For general enquiries:

0845 300 5841 8am - 8pm, Mon-Fri
9am - 6pm, Sat
Closed Sun and Bank Holidays

Claims

To make a claim call:

0800 015 1142 8.30am-5.30pm, Mon-Fri
Closed Sat, Sun and Bank Holidays