Guide to the UK’s leading life insurance providers

If you're new to life insurance, it can feel like a whole new world (to be honest, it kind of is a world of its own).

At times, it can feel like there is too much choice when it comes to life insurance, and it may feel difficult to make the decision that’s best for you. But that’s where we come in. With our award-winning customer service and over 200 years of combined experience in the industry, we can help you find the best provider and policy for you and at the most affordable price too.

What is life insurance?

Let’s start with the basics first. No matter which type of policy you choose, the reason behind every life insurance policy remains the same - to financially protect you or your loved ones and give you some peace of mind.

If the worst were to happen to you, your life insurance policy could pay-out a lump sum to your beneficiaries (the people you want the money to go to), meaning they’ll be financially looked after, even when you’re not there.

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Are there different types of life insurance?

If a standard level life insurance policy isn’t what’s best suited to your circumstances then don’t worry, there are plenty of other policy types out there, here are just a few examples of the types of cover you can get.

• A critical illness policy will pay out a lump sum, typically the equivalent to one or two years of your annual income, if you were diagnosed with a critical illness as defined within your policy conditions.
• Another popular type of life insurance policy is income protection. This type of cover acts as a replacement income, paying out 50-70% of your monthly income to you each month, if you were unable to work due to illness or injury.
• If you recently stepped on the property ladder and you have a mortgage, then a mortgage protection policy could be right for you.
  
  

Our protection specialists will always take all of your circumstances into consideration before making any recommendations. We look at your affordability, wants and needs to find a policy tailored to you and your life.

Do the leading life insurance providers ever pay out?

We’ll let the figures speak for themselves on this one…

A record £6.8 billion was paid out in individual and group life insurance, income protection and critical illness claims in 2021!*

AIG

We partner with some of the UK’s leading life insurance providers and in no particular order, AIG is first on the list in this blog.

One of the unique features of having a life insurance policy with AIG is their Smart Health app. When you take out a policy with AIG, you automatically receive access to their app and all its features.

Smart Health gives you unlimited access to online, telephone and video GP appointments, as well as a range of other health and wellbeing services. Smart Health is available 24 hours a day, 365 days a year and at no additional cost, these services are also available to your partner and any children up to the age of 21.

Legal and General

Founded in 1836 by six lawyers, they claim to be the UK’s number one life insurance provider. In 2021, they paid over £797 million in claims across their life, critical illness, terminal illness and income protection.

In 2021 they also helped a total of 16,890 customers and their families and offer multiple health and wellbeing benefits that are included in your cover that range all the way from mental health support, serious and chronic illness support to dietary and lifestyle advice.

Access to this support is included as standard across all protection products and are available to the policyholder, their partner, and any of their children living at home. You will also receive access to personalised practical and emotional telephone support at any time, during your policy duration.

Royal London

Founded in 1861, Royal London is one of the top names in the life insurance industry. Helping millions of families across the UK, Royal London has put over 8.8 million policies into force**

No matter what your monthly premium is, when you have a policy with Royal London, whether this is life insurance and critical illness, or mortgage protection you will be able to access their Helping Hand benefits. These benefits include but are not limited to:

• Access to Thrive (an app to help with your mental wellbeing)
• 24/7 access to GP consultations by NHS practising doctors
• Access to TrackActivateMe, an app that can assess a musculoskeletal problem such as muscle, joint or spinal pain, and gives you physiotherapy advice and personalised exercises.
  
  
  
  
  

Scottish Widows

Scottish Widows was initially founded to help women and children who were being left without husbands or sons, during the Napoleonic wars. They have been helping people for over 200 years and now have 6 million customers in the UK. Scottish Widows offer benefits through Red Arc, called Scottish Widows Care, these benefits include but are not limited to:

• Access to personal nurses who can provide support across multiple different types of physically and mental illnesses
• Remote GP and prescription delivery services by Square Health

Whether it’s critical illness cover, a life insurance policy, or covering your repayment mortgage, a Scottish Widows policy can protect you and your loved ones.

Aviva

Founded just 23 years ago, in the year 2000, Aviva has helped over 33 million customers, both individuals or families. They specialise in insurance, investments and pensions. When you take out a life insurance policy with Aviva, you can access their health and wellbeing services through the Digicare+ app. These benefits include:

• Annual health check
• Nutrition support
• Mental health support
• Second medical opinion
• Bupa Anytime Healthline
• Bereavement support
  

Vitality

The life insurance provider that rewards you for healthy living. Founded in 1994, and one of the newest providers in the industry, Vitality has accumulated over 1.5 million members on their rewards scheme already.

Vitality incentivises its policyholders to keep an active, healthy, lifestyle by offering rewards for having healthy habits. You can access a huge variety of rewards and heavily discounted fitness subscriptions, products, and you can even get an apple watch when you take out a policy with them*! Vitality’s ethos is all about encouraging people to be healthier whilst also protecting them.

What we do

At Caspian, we get to know you and look at your circumstances to be able to recommend the cover that’s best suited to you and your loved ones.

We have over 200 years combined industry experience so we like to think we know what we’re talking about. Come find out what we’re all about and talk to our team today.

We can recommend the right cover for you and your family by searching through the UK’s leading life insurance companies. If you haven’t already started your life insurance journey and are still without cover, please don’t wait, start your life insurance journey today.

*abi.org
**Figures quoted as of 2021 and are reflective of Royal London’s life, pension and investment contracts*Free benefits are not contractual and can change or withdrawn at any time. Apple watch subject to credit check, credit agreement and further T&C’s