Compare The Co-operative Life Insurance
Search over 500 plans to find the best life insurance quote to suit your circumstances.
It is important to compare life insurance quotes from lots of different companies, as some life insurance companies are much more expensive than others, for exactly the same life insurance policy. That could cost you £1000's.
We compare life insurance quotes and their policies to ensure you get the cheapest life insurance that is currently available on the life insurance market today.
We'll find the right life insurance cover for you at the right price in 3 easy steps:
We compare the leading insurers including:
About Coop Life Insurance Cover
The Co-operative Insurance Company was formed in 1867 to provide fire insurance to co-operative societies.
In 1899 this became an Industrial and Provident Society and changed its name to Co-operative Insurance Society. The Co-operative Insurance is both a general insurer and a life insurer, as well as a fund manager.
It shares surpluses with holders of its with-profits life policies and with individual members of The Co-operative Group in proportion to their general insurance patronage.
In 2002, Co-operative Financial Services was created as a holding company for both CIS and The Co-operative Bank including Smile, the first full internet bank. To maximise the co-operative identity, The Co-operative Group brought all of its businesses under the common The Co-operative brand.
In 2006 CIS split its life and general insurance businesses into two separate entities and CISGIL was established, within which all new and renewing insurance business is now being written. All existing CIS general insurance business is now reinsured with CISGIL and CIS will in future continue to write long-term savings and insurance business only.
CIS was re-branded The Co-operative Insurance in April 2008.
Term Life Insurance
Term life insurance or assurance is the cheapest and simplest form of life insurance. It covers you for a fixed period (known as the "term" which you can choose) and pays out a one off lump sum which you can select, if you die during the policy term.
You can add critical illness cover to some insurance plans, which will pay out on the diagnosis of a qualifying critical illness or if you die during the term of the policy. You are covered for as long as you pay the monthly premiums. If you stop paying the premiums, the policy stops. Premiums depend on a number of factors including the amount of lump sum chosen, the length of term, the applicants age, gender, and if you are a smoker.
There are two popular types of term insurance:
Type One - Level Term Life Insurance - Lump Sum Remains Fixed
Level term life insurance pays out a lump sum on the event of death during the selected term. The lump sum remains constant throughout the period of the life insurance term.
Type Two - Decreasing Term Life Insurance - Covers Mortgage Balance
Decreasing term life insurance which is also known as mortgage life insurance covers you for a set term and pays out a lump sum if you die during the policy term. Unlike level term insurance where the lump sum remains fixed, with this plan the amount of cover decreases over the term of the policy in line with the amount outstanding on a repayment mortgage. Although the lump sum decreases over the term with this type of cover the premiums remain the same.
It's a fact that life insurance cover is harder to come by the older you get. You may think you've left it too late, or it's too early to buy life insurance - that's where we can help.
We will search the UK life insurance market to find you the best life cover to suit your circumstances.
Many people don't have this simple, reassuring protection. Life insurance could be an ideal way to leave some money behind - for your partner, family or friends or to help towards funeral expenses, or outstanding bills.
Could your family afford to pay for your funeral?
None of us like to think about our funeral but taking the time now could help your family at a very difficult time. Most people underestimate the cost of a funeral and so you may be surprised just how much it can be.
Research has shown that the average cost of a basic funeral in the UK is £2,700 and is on the increase. When selecting life insurance cover it is important to make allowances for the increase in the cost of living as the amount you select now will not be worth as much in the future.
Why not take 2 minutes to complete the short form on this page to see how we can help you!
*Figures are indications of savings only and based on a £100,000 life insurance policy for a female aged 30, non smoker and without a pre-existing medical condition. The rate is based on a 25 year level term policy, sourced on a guaranteed basis. Correct as at September 2017.