Getting life insurance cover to meet your needs depends on your own individual circumstances. For example, if:

You can find out more about the different types of life insurance in our guide - Types of life insurance explained.

With Tesco Life Insurance, you can choose from 2 options: Family Protection (Level Cover) or Mortgage Protection (Decreasing Cover). And they’ll pay out if you die, or become terminally ill, during the term of the policy.

Family Protection, also called Level Cover, lets you leave a cash lump sum, which can help your loved one with living expenses if you’re no longer around to look after them.

Mortgage Protection, also known as Decreasing Cover, can help to pay off a mortgage, so your family can continue to live in their home after you’re gone. You can learn more about life insurance and mortgages in our guide - Do you need life insurance for a mortgage?

Tesco Life Insurance is what’s known as term life insurance, which means it covers you for the length - or term - of the policy. You can decide how much cover you want, and how long for, and it’ll pay out if you die or becoming terminally ill during the policy term.

You can choose Family Protection (Level Cover) or Mortgage Protection (Decreasing Cover) to get the cover that meets your needs.

Please note, our Life Insurance policy doesn’t have a cash-in value. If your payments stop, so does your cover, and you won’t get your money back. The policy only pays out once, and it ends after that.

For more information, take a look out our life insurance guides.

Whether or not you need life insurance depends on your own individual circumstances. For example, if:

With Tesco Life Insurance, you can give you family some financial support after you’ve gone - by leaving your loved ones a cash lump sum, or arranging for your mortgage to be paid off, if you die or become terminally ill during the term of the policy.

If you’re new to life insurance, see our guide - What is life insurance?

You can get life insurance at any time, but it tends to get more expensive as you get older.

You might want to get life insurance after going through some life events, like buying a house, getting married or having children. With life cover in place, you can make sure your family have some financial support if you’re no longer around to look after them.

To find out what’s right for you, take a look at our guide - Types of life insurance explained.

Life insurance - like Tesco Life Insurance - is a term insurance policy, which means it covers you for a set amount of time.

Over 50 life insurance is a whole of life policy, which means it covers you for the rest of your life.

To take out over 50 life insurance, you usually need to be aged between 50 and 80. Your premiums are fixed for life, and you don’t normally need a medical or health check.

You can choose enough cover to help pay for a funeral, or you can leave a lump sum to your loved ones when you die.

Finding an insurance policy that’s right for you depends on your own individual circumstances.

With Tesco Life Insurance, you can have more than one policy. However, if your total cover is high, Aviva, our life insurance provider, might need to do a more in-depth financial assessment to make sure they’re insuring you for the right amount.

Tesco Life Insurance - provided and administer by Aviva - is a term life insurance policy that provides cover in case you die during the policy term.

You’ll get your payout early if you’re diagnosed with a terminal illness that meets Aviva’s criteria and you’re not expected to live longer than 12 months. Your policy ends when they pay out, and they won’t pay any further claims.

If you get the MyAviva app, you can log in or register to manage your policy and check your cover details there.

To find out exactly what you're covered for, you should always check your policy documents.

If there’s anything you’re not sure of, find out how to contact Aviva.

If you’ve got a mortgage, it might be a good idea to get life insurance. If you die during the term of the policy, the lump sum can help to pay off the outstanding balance on your mortgage, so your family can stay in their home. Some lenders strongly recommend taking out life insurance as part of their mortgage offer.

Mortgage Protection, also known as decreasing term life insurance, is built with mortgages in mind. And it’s one of the options with Tesco Life Insurance.

You can learn more about life insurance and mortgages in our guide - Do you need life insurance for a mortgage?

There isn’t an average monthly cost. The price you pay for life insurance depends on: the type of policy, how much you’re covered for, the term of the policy, and the things your insurer will want to know about you, like your age and health.

Tesco Life Insurance starts from only £5 a month. And, whatever your monthly premium, you’ll get a discount with your Clubcard.

No. Your Tesco Life Insurance policy doesn’t have a cash value at any time. At the end of your policy term, you stop making payments, and your cover ends.

If you get a life insurance payout, you won’t need to pay capital gains tax or income tax on it - but you might need to pay inheritance tax, unless the policy’s been placed in a Trust.

It’s a good idea to get independent legal and financial advice if you’re thinking about placing a life insurance policy into Trust.

Yes. If you put it into a trust, you can decide who gets the payout from your life insurance policy. You can also name the trustees - the people who’ll be responsible for passing on the money.

The person who gets the payout is called the beneficiary, and you can have more than one. Placing your policy in a trust means your beneficiaries can get the money more quickly if a claim’s successful.

Putting your policy in trust also means it won’t count as part of your estate when you die, so any money your beneficiaries get is usually exempt from Inheritance Tax.¹ But how much tax actually you need to pay depends on your circumstances, and tax laws may change in the future. Setting up a trust is easy, but you’ll need to understand what it means for you legally and financially.

To get some advice, you could speak to a financial adviser or tax specialist. You can find one at unbiased.co.uk.

If you don’t put your policy into a trust, you can leave instructions in your will about who you want to get a payout from your policy. But this might not offer the same protection against Inheritance Tax. You can find more information about writing a will at gov.uk.

If you take out a Tesco Life Insurance policy, you’ll get some great Tesco benefits, including:

Please see the terms and conditions for full details.

With Tesco Life Insurance, you’ll get a Big Win after you’ve paid 6 months’ premiums.

Your Big Win is a £100 Tesco Gift Card. And your Little Life Helps are money-off coupons to use in-store, which you'll get in your Tesco app. See terms and conditions.

We’ll email your gift card to you after you’ve paid 6 months’ premiums, as long as you’re eligible for the offer. See terms and conditions.

You can use your Tesco Gift Card in any Tesco store.

Your Tesco shopping benefits will appear automatically in your Tesco app, but you’ll need to be opted in to Tesco marketing to get them. To see if you're opted in, open your Tesco app, go to your Account and then select Marketing preferences.

Your first coupon should appear in the app after you’ve paid your second premium. We add the coupons to our customers’ accounts every 2 months, so, depending on when your policy started, you may miss the cut-off date. In that case, it may take up to 4 months from your policy start date for your first coupon to appear.

You’ll get different savings on your Tesco shopping during the first year of your policy.

For example, you could get £10 off your shopping, £5 off fruit and veg or £5 off our F&F clothing range.

We’ll email your gift card to your after you’ve paid 6 months’ premiums, so make sure the email address you’ve give us is correct and up to date.

If you don’t get the email on time, check your junk folder in case it’s there. If you still don’t have it, please get in touch and we’ll sort it out for you.

Your first coupon should appear in the Tesco app after you’ve paid your second premium, but it could take up to 4 months from your policy start date for your first coupon to appear.

Note, you need to be opted in to Tesco marketing to get your benefits in the Tesco app.

If your coupons don’t appear in the app on time, please get in touch and we’ll sort it for you.

With Tesco Life Insurance, you have a 30-day cooling-off period in case you change your mind. The cooling-off period begins on your policy start date, or on the day you get your policy documents, whichever is later. If you want to cancel within 30 days, Aviva, our life insurance partner, will refund any premiums you’ve paid.

Note: your life insurance policy doesn’t have a cash value, and, if you cancel your policy, you won’t be able to make a claim.

You can cancel your policy after the cooling-off period ends, but Aviva won’t refund the premiums you’ve paid. If you’re thinking about cancelling, find out how to contact Avvia online or by phone, or write to Aviva Life, Norwich BCC, PO Box 520, Norwich, NR1 3WG.