Decreasing term life insurance
Get Mortgage Protection and peace of mind with Tesco Life Insurance. Save with your Clubcard and enjoy exclusive Tesco perks.
Tesco benefits T&Cs apply.
Tesco Life Insurance is provided, administered and underwritten by Aviva Life & Pensions UK Limited.
Why choose our decreasing term life insurance?
Clubcard Prices
Cover from only £5 a month. And you'll get a discount with your Clubcard.
What is decreasing term life insurance?
Decreasing term life insurance is designed with mortgages in mind. It can help to pay off a repayment mortgage or a large loan if you die.
It’s also called decreasing cover or Mortgage Protection insurance.
It’s different from level term life insurance - also known as Family Protection. This kind of cover can help to give your family financial support after you’re gone. For example, by helping to cover living expenses, university fees or funeral costs.
With decreasing term life insurance:
- Your cover usually lasts for as long as you have your mortgage. So the policy term will match the mortgage term.Your cover usually lasts for as long as you have your mortgage. So the policy term will match the mortgage term.
- Your premiums stay the same throughout the policy term.Your premiums stay the same throughout the policy term.
- Your cover amount usually goes down in line with your mortgage.Your cover amount usually goes down in line with your mortgage.
Your lender will often want you to have Mortgage Protection when you take out a mortgage with them.
How does Tesco decreasing term life insurance work?
When you take out our decreasing term life insurance, you can choose:
- joint or single life coverjoint or single life cover
- the cover amount - usually the amount of your mortgagethe cover amount - usually the amount of your mortgage
- a policy term to match your mortgage term - from 5-50 yearsa policy term to match your mortgage term - from 5-50 years
The policy pays out during the policy term if one of the following happens:
- you dieyou die
or
- you're diagnosed with a terminal illness and aren't expected to live longer than 12 monthsyou're diagnosed with a terminal illness and aren't expected to live longer than 12 months
You can learn more about decreasing cover in our guide - What is decreasing term life insurance?
If you’re new to life insurance, take a look at our beginner’s guide - What is life insurance?
Your options with Tesco Life Insurance
Choose decreasing term life insurance or level cover. And save with your Clubcard.
Mortgage Protection - decreasing cover
Arrange to pay off a repayment mortgage if you pass away. You can choose:
- A single or joint policyA single or joint policy
- Cover of up to £5 millionCover of up to £5 million
- A policy term of 5 to 50 yearsA policy term of 5 to 50 years
- Critical Illness cover (optional extra)
Family Protection - level cover
Leave a lump sum to your loved ones if the worst happens. You can choose:
- A single or joint policyA single or joint policy
- Cover of up to £5 millionCover of up to £5 million
- A policy term of 5 to 50 yearsA policy term of 5 to 50 years
- To protect your policy from the effects of inflation (optional extra)To protect your policy from the effects of inflation (optional extra)
- Critical Illness cover (optional extra)Critical Illness cover (optional extra)
Optional extra - critical illness cover
You can take out critical illness cover with level or decreasing term life insurance. You’ll have the option to add it when you get a Tesco Life Insurance quote.
The Critical Illness Plan will pay out a lump sum if, during the policy term:
- you’re diagnosed with a critical illness covered by the policy (terms apply)you’re diagnosed with a critical illness covered by the policy (terms apply)
Before you apply for decreasing term life insurance
Find out more about claiming your Tesco Gift Card. And run through a few things to get ready for your quote.
About your Tesco Gift Card
You’ll be able to claim your Tesco Gift Card once you’ve paid 6 months’ premiums, as long as you don’t cancel your policy. The amount you get on your gift card will depend on your monthly premium.
Monthly premium and Tesco Gift Card amount
|
Monthly premium |
Gift card amount |
|---|---|
|
£30 or above |
£150 |
|
£20-£29.99 |
£100 |
|
£10-£19.99 |
£50 |
|
£5-£9.99 |
£25 |
Offer ends 30 November 2026.
Get ready for your quote
Check you’re eligible to apply for Tesco Life Insurance. And find out what to expect when you do.
To apply for Tesco Life Insurance, you must:
- Be aged between 18 and 77 years old.Be aged between 18 and 77 years old.
- Answer all the questions accurately and honestly.Answer all the questions accurately and honestly.
- Be in the UK, with a legal right to live there.Be in the UK, with a legal right to live there.
- Think of your main home as the UK (not including the Channel Islands, the Isle of Man or Gibraltar) and have no plans to permanently live abroad.Think of your main home as the UK (not including the Channel Islands, the Isle of Man or Gibraltar) and have no plans to permanently live abroad.
- Be prepared to take a medical exam, if Aviva ask you to. Normally, you won’t need to, and they’ll pay for it if you do.Be prepared to take a medical exam, if Aviva ask you to. Normally, you won’t need to, and they’ll pay for it if you do.
When you apply for Tesco Life Insurance with Aviva, you need to tell them:
- Whether you’d like Family Protection (level cover) or Mortgage Protection (decreasing cover).Whether you’d like Family Protection (level cover) or Mortgage Protection (decreasing cover).
- Whether you’d like Critical Illness cover.Whether you’d like Critical Illness cover.
- How much cover you need.How much cover you need.
- How long you need the cover for (the policy term).How long you need the cover for (the policy term).
- Whether you want a single or joint policy.Whether you want a single or joint policy.
- Who you want to leave a lump sum to (your beneficiaries).Who you want to leave a lump sum to (your beneficiaries).
- Your personal details, like your name, email address and date of birth.Your personal details, like your name, email address and date of birth.
- If you smoke.If you smoke.
To apply for critical illness cover with Tesco Life Insurance, you must:
- Be aged between 18 and 64 years old.Be aged between 18 and 64 years old.
- Answer all the questions accurately and honestly.Answer all the questions accurately and honestly.
- Be in the UK, with a legal right to live there.Be in the UK, with a legal right to live there.
- Think of your main home as the UK (not including the Channel Islands, the Isle of Man or Gibraltar) and have no plans to permanently live abroad.Think of your main home as the UK (not including the Channel Islands, the Isle of Man or Gibraltar) and have no plans to permanently live abroad.
- Be prepared to take a medical exam, if Aviva ask you to. Normally, you won’t need to, and they’ll pay for it if you do.Be prepared to take a medical exam, If Aviva ask you to. Normally, you won’t need to, and they’ll pay for it if you do.
If you’ve got any questions, Aviva, our life insurance provider, will be happy to help.
What does decreasing term life insurance cover?
Here’s what we cover with our decreasing term life insurance and level term policies. And what to bear in mind before you apply.
To find out exactly what you’re covered for, it’s always best to check the policy documents.
Tesco Life Insurance is provided by Aviva, who will also manage your policy.
What’s covered
Important to know
What’s covered
Lump sum payment
You can choose cover of up to £5 million and Aviva will pay out your chosen amount after a successful claim.
Protection if you die
Aviva will pay a cash lump sum if you die during the term of the policy. If they pay out, your policy ends, and they won’t pay any more claims.
Terminal illness
You’ll get your lump sum payment early if you’re diagnosed with a terminal illness, as defined in the policy terms and conditions, and you’re not expected to live longer than 12 months. If Aviva pay out, your policy ends, and they won’t pay any more claims.
A separation benefit
If you separate from your partner after taking out a joint policy, Aviva could split your joint policy into 2 single policies.
House purchase cover
If you’re taking out cover when buying a house, Aviva will give you free life insurance for up to 90 days. This begins when they’ve accepted your application and you’ve exchanged contracts or completed missives, as long as you’ve given them a future start date that ties in with the completion of your house purchase. Terms apply. See policy conditions for full details.
Important to know
Length of cover
You can choose the length of cover you need - from 5 to 50 years, or until you’re 90 years old.
Not paying your premiums
If you stop paying your premiums, your cover will end, and you won’t get anything back.
No cash-in value
Aviva will only pay out on a successful claim. Your Tesco Life Insurance policy doesn’t have a cash-in value at any time. There’s only one exception: if you cancel within 30 days of the policy start date or the date you get your policy documents, whichever is later. In that case, Aviva will refund any premium you've paid.
Suicide and self-inflicted injuries in the first year
Aviva won't pay out the lump sum if you die from suicide or intentional, self-inflicted injury in the first 12 months of the policy.
Extra benefits with our decreasing term life insurance
With Tesco Life Insurance, you’ll get a Big Win and Little Life Helps from Tesco. Plus, health and wellbeing benefits with Aviva DigiCare+.
With Tesco Life Insurance, you’ll get some great benefits from Tesco.
A Big Win
We’ll email your gift card to you after you’ve paid 6 months’ premiums with instructions on how to use it. You’ll need a current Tesco Life Insurance policy to be eligible. And it’s one gift card per policy.
Little Life Helps
Your coupons will appear automatically in your Tesco app after your policy starts. You’ll need to have the Tesco app on your phone and be opted in to marketing to get them.
You’ll also get health and wellbeing services with the Aviva DigiCare+ app, provided by Square Health and other selected partners.
This includes:
- unlimited Digital GP consultations - 24/7, 365 days a yearunlimited Digital GP consultations - 24/7, 365 days a year
- physical health supportphysical health support
- mental health supportmental health support
- nutrition advicenutrition advice
- bereavement supportbereavement support
- second medical opinion servicesecond medical opinion service
- an annual health check - with a follow-up clinician to discuss your results*an annual health check - with a follow-up clinician to discuss your results*
Aviva Digicare+ is a non-contractual benefit that could be changed or withdrawn by Aviva at any time.
*There’s a charge for the Health Check service.
Decreasing term life insurance you can trust
- Provided by Aviva - experts in life insuranceProvided by Aviva - experts in life insurance
- 5-star rated by Defaqto5-star rated by Defaqto
- 98.7% of claims paid**98.7% of claims paid**
**Aviva UK individual claims report 2026, based on claims paid in 2025.
Save with your Clubcard on Tesco Life Insurance
Choose Family Protection or Mortgage Protection. Decide on critical illness cover. And save with your Clubcard.
You’ll get your quote from Aviva, who provide and administer Tesco Life Insurance.
Life insurance guides
Decreasing term life insurance FAQs
Yes. You can add critical illness cover as an optional extra with Tesco life insurance. Whether you want decreasing term or level term life insurance.
The Critical Illness Plan will pay out a lump sum if, during the policy term:
- you’re diagnosed with a critical or terminal illness covered by the policyyou’re diagnosed with a critical or terminal illness covered by the policy
Yes, you can have both types of life insurance at the same time. For example, you might want to take out the following cover in case you die:
- Decreasing term - to help pay off a repayment mortgage or other loan, so your family aren’t left to deal with the debt
- Level term - to help your family with living costs and other expenses, if you’re not around to look after themLevel term - to help your family with living costs and other expenses, if you’re not around to look after them
Having more than one policy can give you protection for different needs.
You can learn more about having more than one policy in our guide - Can you have more than one life insurance policy?
With Tesco Life Insurance, cover starts from £5 a month. But the price you’ll pay for decreasing cover depends on your policy and personal circumstances.
These things can all affect the cost of decreasing term life insurance:
- your age, health and lifestyleyour age, health and lifestyle
- if you smokeif you smoke
- the amount of cover you choosethe amount of cover you choose
The cover amount reduces over time with decreasing term life insurance. That can often make it cheaper than level term life insurance.
Getting life insurance to meet your needs depends on your own individual circumstances. For example, if:
- you’re married or have a partneryou’re married or have a partner
- you have childrenyou have children
- you’ve got a mortgageyou’ve got a mortgage
You can learn about the different types of life cover in our guide - Types of life insurance explained.
With Tesco Life Insurance, you can choose from 2 options:
- Family Protection - level term life insurance (level cover)Family Protection - level term life insurance (level cover)
or
- Mortgage Protection - decreasing term life insurance (decreasing cover)Mortgage Protection - decreasing term life insurance (decreasing cover)
They both pay out if you die, or become terminally ill, during the term of the policy. But the payout goes towards different things.
Family Protection
With level cover, you can leave a cash lump sum to your loved ones. This can help to cover things like living costs or university fees if you’re no longer around to look after them.
Mortgage Protection
Decreasing cover can help to pay off a repayment 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?
Help for Life Insurance customers
Find out how to manage your policy, get in touch or make a claim if you have Tesco Life Insurance.
Get in touch
Need to talk to someone about Tesco Life Insurance? Our partners at Aviva will be happy to help.
Important information
About Tesco Life Insurance
Tesco Life Insurance is arranged, administered and underwritten by Aviva Life & Pensions UK Limited.
Tesco Personal Finance Ltd acts as an introducer to Aviva Life & Pensions UK Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of the Association of British Insurers. Firm Reference Number 185896.
Aviva Life & Pensions UK Limited. Registered in England & Wales No. 3253947. Registered Office: Aviva, Wellington Row, York, YO90 1WR. Tesco Personal Finance Ltd and Aviva Life & Pensions UK Limited. are not part of the same corporate group.
About Tesco Insurance
Tesco Insurance is a trading name of Tesco Personal Finance Ltd, Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ (registered in Scotland, no SC173199) which is authorised and regulated by the Financial Conduct Authority (register no. 186022).
Aviva DigiCare+ app
With the Aviva DigiCare+ app, you can start using a range of health and wellbeing services when you take out your policy.
Members of your family can use it too, as long as they're eligible.
The Aviva DigiCare+ app is provided by Square Health. The services are provided by Square Health and other selected partners.
You'll find full details about the services in the app, along with the terms and conditions, residency restrictions and privacy policy.
Aviva DigiCare+ is a non-contractual benefit that could be changed or withdrawn by Aviva at any time. So, it won't appear in any contract you've signed, or in any terms and conditions.
Key policy documents
Please check the policy documents to make sure the cover you’ve chosen meets your needs.
The policy booklet and product information documents tell you about the benefits, limitations and exclusions that’ll apply to your cover.
The Big Win - Up to £150 Tesco Gift Card
*Terms and conditions
- The gift card amount depends on your monthly premium: you’ll receive £150 if your monthly premium is £30 or above, £100 if it’s £20-£29.99, £50 if it’s £10-£19.99, and £25 if it’s £5-£9.99. Offer ends 30 November 2026.The gift card amount depends on your monthly premium: you’ll receive £150 if your monthly premium is £30 or above, £100 if it’s £20-£29.99, £50 if it’s £10-£19.99, and £25 if it’s £5-£9.99. Offer ends 30 November 2026.
- You are eligible to benefit from this promotion if you apply for a new Tesco Life Insurance plan (with or without Critical Illness cover) from 1 July at 00.01am to 11.59pm on 30 November 2026 (the "promotion period").You are eligible to benefit from this promotion if you apply for a new Tesco Life Insurance plan (with or without Critical Illness cover) from 1 July at 00.01am to 11.59pm on 30 November 2026 (the "promotion period").
- You must then go on to purchase that product (whether during or after the promotion period) and pay the first 6 consecutive monthly premiums due for that product to receive a gift card.You must then go on to purchase that product (whether during or after the promotion period) and pay the first 6 consecutive monthly premiums due for that product to receive a gift card.
- Your gift card value will be dependent on the value of your total monthly premium for your Tesco Life Insurance plan (with or without Critical Illness cover).Your gift card value will be dependent on the value of your total monthly premium for your Tesco Life Insurance plan (with or without Critical Illness cover).
- Your Tesco Gift card will be sent to your e-mail address you used when applying for your Tesco Life Insurance policy. The gift card will be issued from our partner CashStar and will be issued the following month after you have paid your 6th monthly premium. Please ensure you check your junk e-mails for your gift card.Your Tesco Gift card will be sent to your e-mail address you used when applying for your Tesco Life Insurance policy. The gift card will be issued from our partner CashStar and will be issued the following month after you have paid your 6th monthly premium. Please ensure you check your junk e-mails for your gift card.
- We will only issue one gift card per current Tesco Life Insurance policy irrespective of the number of people covered under that policy.We will only issue one gift card per current Tesco Life Insurance policy irrespective of the number of people covered under that policy.
- We limit the number of Tesco Gift Cards you'll receive to one per person even if you hold multiple current Tesco Life Insurance policies with us.We limit the number of Tesco Gift Cards you'll receive to one per person even if you hold multiple current Tesco Life Insurance policies with us.
- Tesco Gift Cards should be treated like cash. Lost or stolen cards can’t be replaced.Tesco Gift Cards should be treated like cash. Lost or stolen cards can’t be replaced.
- You'll get an e-gift card, which can be used in any UK Tesco store. Please note, your Tesco Gift Card can’t be used in Tesco Petrol Stations.You'll get an e-gift card, which can be used in any UK Tesco store. Please note, your Tesco Gift Card can’t be used in Tesco Petrol Stations.
- Tesco’s change of mind policy does not apply to gift cards. If you change your mind, you can’t return your Tesco Gift Card for a refund. Your legal rights are not affected.Tesco’s change of mind policy does not apply to gift cards. If you change your mind, you can’t return your Tesco Gift Card for a refund. Your legal rights are not affected.
- Your Tesco Gift Card and balance will expire five years after the date you activated your card, or the date you last used your card, whichever comes later.Your Tesco Gift Card and balance will expire five years after the date you activated your card, or the date you last used your card, whichever comes later.
- Damaged, altered or cancelled cards won’t be accepted as payment.Damaged, altered or cancelled cards won’t be accepted as payment.
- Your Tesco Gift Card can’t be used to buy another Tesco Gift Card, or to buy other gift cards sold in-store or online at tescogiftcards.com.Your Tesco Gift Card can’t be used to buy another Tesco Gift Card, or to buy other gift cards sold in-store or online at tescogiftcards.com.
- We reserve the right to amend, modify or terminate this offer from time to time, at our sole discretion, and without prior notice.We reserve the right to amend, modify or terminate this offer from time to time, at our sole discretion, and without prior notice.
Little Life Helps - Tesco shopping benefits
Terms and conditions
- You’ll get money-off coupons to spend on your Tesco shopping for one year, starting from the date you get your first coupon.You’ll get money-off coupons to spend on your Tesco shopping for one year, starting from the date you get your first coupon.
- You’ll need to have the Tesco app on your mobile phone and be opted in to marketing.You’ll need to have the Tesco app on your mobile phone and be opted in to marketing.
- The coupons will appear automatically in your Tesco app.The coupons will appear automatically in your Tesco app.
- You'll get up to 5 Tesco coupons throughout the year, which could include £15 off your total shop and £5 off fruit & veg.You'll get up to 5 Tesco coupons throughout the year, which could include £15 off your total shop and £5 off fruit & veg.
- We reserve the right to amend, modify or terminate this offer from time to time, at our sole discretion, and without prior notice.We reserve the right to amend, modify or terminate this offer from time to time, at our sole discretion, and without prior notice.
Tesco Life Insurance is provided, administered and underwritten by Aviva Life & Pensions UK Limited.
Aviva have a 5-star rating for life insurance from Defaqto. And they pay out on 98.7% of life insurance claims**.
**Aviva UK individual claims report 2026, based on claims paid in 2025.
To check your cancellation rights, and the charges for changing or cancelling your policy, please see Aviva's insurance services and the cancellation section of the policy terms and conditions.
Your Tesco Clubcard data
We'll search our records for your Tesco Clubcard number. If you have a Clubcard, we may access and use information from it (including your name, address and details about your transactions). This'll help us, and your insurer, to assess your premium - but don't worry, it'll only be used to make a positive impact on your premium.
How we collect and use your data
Tesco Personal Finance Ltd takes the security of your data seriously. You can find detailed information about how we collect and process your data, and your rights under data protection law, in our Privacy Policy.
We collect data when you browse our website (for example, your IP address), request a quote, partially complete a quote, don't purchase a policy or provide data indirectly via a price comparison website. We keep quote data for up to 7 years and may use this information if you apply for one of our products again in the future.
We'll use your data to give you quotes, provide our services to you, carry out eligibility checks, work out insurance risk, manage debt, protect you and us against fraud and financial crime, and manage and develop our business. Automated decisions may be taken to detect crime.
We use data such as your name and address to find any Clubcards that are linked to your address. That might be your Clubcard, the Clubcard of other family members, or the Clubcard of house or flat mates. We may use this information to tailor our communications to you, and to try to bring you better terms, deals or offers, which may include profiling on an on-going basis. We may also award Clubcard points.
Data may be obtained from and shared with the wider Tesco Group and fraud prevention agencies (FPAs). The FPAs will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, this may be shared with other organisations and you could be refused certain services, finance or employment.
Tesco Life Insurance is arranged, administered and underwritten by Aviva Life & Pensions UK Limited. To find out how they process and share your data, see Aviva’s Privacy Policy.
By proceeding with your application you acknowledge that we can use your data in this way.