How much cover?
Start with what would need paying if you died: the outstanding mortgage and other debts, plus the income your family would lose until children are independent, and costs like childcare. Subtract existing cover such as death in service from your employer. A regulated adviser can help with complex situations.
Writing a policy in trust (UK)
Putting a life policy in trust can mean the payout goes directly to your chosen beneficiaries without waiting for probate, and in many cases keeps it outside your estate for inheritance tax. Most insurers provide free trust forms; take advice if your situation is complicated.
Life insurance in the US
US policies come as term life (for a set number of years) and permanent life (whole life and universal life, which include a cash value element). Many employers provide group life cover, often a multiple of salary, but it usually ends when you leave the job. Insurers are regulated by state insurance departments.
Honesty on the application
Answer health, smoking and lifestyle questions accurately. Misrepresentation can lead to a claim being reduced or refused, which is the worst possible outcome for a family. Life insurance is also exempt from UK Insurance Premium Tax.
Last updated: 15 October 2026
