Life insurance for your family.

Life insurance helps give your family some financial support after you’re gone. It pays out a cash lump sum if:

The lump sum can help your family cover things like living costs, childcare or to pay off the mortgage. It can also help towards the cost of your funeral.

According to our research, 38% of UK adults often think about what would happen to their loved ones if they were no longer around*. And 16% say it’s a constant worry. Life insurance helps to provide peace of mind your family have a financial safety net when you’re gone.

But there are a few things to remember. Tesco Life Insurance, like any life insurance policy, has no cash-in value. If you cancel it or your payments stop, so does your cover. And you won’t get any money back. The policy only pays out once, and it ends after that.

Find out more about the basics of life insurance in our beginner’s guide - What is life insurance?

Whether you’re a family of two, new parents or a growing family, life insurance can help your loved ones in many ways.

The lump sum payout can:

Learn more about the benefits of getting life insurance in our guide - What are the benefits of life insurance?

Everyone has different financial needs. So, it’s important to find a life insurance policy that’s right for you.

Tesco Life Insurance is what’s known as term life insurance. That means if covers you for the length - or term - of the policy. And you can choose how long you want cover for, from 5 to 50 years.

You can choose from 2 types of cover:

With Family Protection, you can leave your loved ones a fixed cash sum when you die.

Your monthly premium and the amount you’re covered for stay the same throughout the length of the policy - that's why it’s called level term. And you can choose how long you want the policy to last.

Family Protection might be suitable if you want to help support your family financially after you’re gone, especially if you have children.

You can find out more about level term insurance in our guide - What is level term life insurance?

This can help your family pay off the mortgage or another loan you pay off over time.

The policy usually lasts as long as your mortgage (or loan). And the payout goes down in line with the remaining balance - that's why it’s called decreasing term. Like Family Protection, your monthly premiums stay the same throughout the policy.

Mortgage Protection is usually cheaper than Family Protection because the payout goes down over time. But it’s only suitable for repayment mortgages - if you have an interest-only mortgage, decreasing life insurance won’t cover this.

Mortgage Protection is also designed with mortgages and loans in mind. If you’d like to leave your family a fixed amount to help with other costs, level term life insurance is best for this.

Find out more about decreasing term life insurance in our guide - What is decreasing term life insurance?

You can also learn more about the types of life insurance we offer in our guide - Types of life insurance explained.

Life insurance isn’t just for families with children. It can help give your partner or other dependents some financial security when you’re no longer around.

One of the ways you can do this is by naming them as a beneficiary. This is the person or organisation that’ll get the lump sum payout - after a successful claim - if you die or become terminally ill.

You can also take out a joint life insurance policy with your partner. Both Family Protection and Mortgage Protection can be taken out as a single or joint policy.

A joint policy:

A joint policy only pays out once after the first death of a policyholder - usually to the person you have the policy with. After that, the policy will end. And there won’t be any cover for the surviving partner. You can choose to take out a new single policy if you’d still like cover.

Learn more about joint life insurance for couples in our guide - Life insurance for couples.

The best time to get life insurance will be different for everyone. But it’s worth remembering - the older you are when you apply for cover, the higher your premiums are likely to be.

You might want to think about taking out life insurance when:

Find out more about getting life insurance in place in our beginner’s guide - When should you get life insurance?

At Tesco Insurance, we want to help you with the things that matter most. That’s why Tesco Life Insurance comes with a Big Win and lots of Little Helps.

As well as your Tesco benefits, you’ll also get Aviva DigiCare+ - a health and wellbeing service from Aviva that includes unlimited Digital GP consultations and the Bupa Anytime HealthLine.

Tesco Life Insurance is provided and administered by Aviva, who have a 5-star Defaqto rating for life insurance and pay out on 98.8% of claims.

*All figures are taken from an online survey conducted by WALR on behalf of Tesco Insurance between 11 and 25 July 2025. The survey included a sample of 2,008 UK consumers under 55 years of age.