Broadly speaking, there are 2 types of policies that are offered by life insurance UK companies based on the nature of your premium: age-based policy and level-based policy.

Age-based policy

The main characteristic of an age-based policy is that the premium that you pay on it is based on your age. Each year, your premium is calculated by the insurer such that it rises according to your age.

If you are currently on a tight budget but anticipate that you will earn enough income and/or having enough savings in the future to pay higher premiums, it would be a good idea to choose the age-based policy.

Another benefit of an age-based policy is that it covers you for the rest of your life (which is different from a level-based policy, for which you have to decide a policy term).

Moreover, an age-based policy also increases the sum assured for your life insurance policy every single year: it is not fixed, the way it is for a level-based policy.

Level-based policy

A level-based policy is one for which the amount of monthly (or annual) premium that you pay remains the same. This gives you the certainty of knowing that you will have to make the same amount of provision for paying your premium every month. It is especially useful for those who anticipate that their salary will decrease in the future.

When choosing a level-based policy, you must choose a policy term: the length of time for which you want coverage. If you choose a term of 30 years, the life insurance policy will only provide the sum assured to your beneficiaries if you die within that period.

The sum assured for a level-based policy also remains the same: it doesn’t increase or decrease with time.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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