The life insurance market has seen many providers all offering different varieties and benefits. The amount of choice can be overwhelming making it difficult to assess what you need from a policy. Fortunately, L&G has provided a guide emphasising the importance of life insurance, what type of life insurance to choose and how to choose a provider.
How to pick the best life insurance for your needs
The best life insurance is subject to the individual. Ultimately, the purpose of a policy is to financially support your loved ones in the event of your death. But is there such thing as the best life insurance? Your work circumstances, family dynamics and commitments are unique from others and should be accounted for when it comes to life insurance.
Reasons to purchase life insurance
The motivating factors of taking out a life insurance policy are financial security and peace of mind for loved ones in your absence. You may want to take out a policy if:
- You want to leave money behind
- Your partner relies on you to survive financially
- You want to reassure your dependants of their financial future.
Which type of life insurance is right for me?
- Level Term Life Insurance – If you require a fixed amount to be paid out across the entire policy term then this form of coverage would be the best option.
- Decreasing Life Insurance – If you require a specific amount to cover mortgage payments, which decreases in line with the remaining mortgage balance, this form of coverage would be the most suitable choice.
- Whole of Life Insurance – If you require cover throughout your lifetime, unlike typical policies which are for a set period, you should consider this type of coverage. Getting more information on this type of policy requires consultation with a financial advisor.
How to choose the best UK life insurance provider
There are hundreds of life insurance providers in the UK. To help narrow down your choices, here are some key criteria to focus on:
Consumer protection – It is sensible to choose a company subject to UK regulations, a requirement for financial stability. If providers are unable to pay claims the government-backed FSCS (Financial Services Compensation Scheme) will pay them.
How the policy compares – Ensure you go with a provider that has a policy for your exact needs.
Do they pay out? – What is the payout rate of insurance claims from that provider?
Reputation – Are there consistent, positive reviews from existing customers as well as a strong reputation within the industry?
Additional features – Extra benefits are sometimes available, for instance, allowing you to modify your policy and covering similar unfortunate events such as terminal illnesses or accidental deaths.
Why get life insurance with L&G?
Legal and General has been protecting families for more than 185 years. You can trust in getting expert cover along with supporting benefits.
There when needed – £583 million was paid out in 2024 for life insurance claims aiding more than 14,000 families.
Wellbeing – L&G has partnered with RedArc Assured Limited to provide a phone-based wellbeing support service.
Care Concierge – Free access to L&G’s team of impartial care experts giving telephone guidance to help understand and find adult and later life care.
How does L&G compare?
L&G is recognised by Moneyfacts as one of the best life insurance providers, having won Life Insurance Provider of the Year (Direct) in 2025 for the 6th consecutive year. Also, Defaqto has rated L&G’s Life Insurance as 5 stars, the highest rating attainable.
Choosing the correct life insurance policy can be difficult, with complex industry terms and assessing what your loved ones would require in your absence. For more information on whether to get life insurance, and the correct form for your needs, Please visit here: https://www.legalandgeneral.com/insurance/life-insurance/definitions/how-to-pick-the-best-life-insurance/
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