SaveOnLife.co.uk

SaveOnLife.co.uk: Compare and buy life insurance online

SaveOnLife.co.uk is a British platform specialising in the comparison and purchase of life insurance and personal protection. Its approach is built around an online process that allows you to get a quote in under three minutes and, where the product allows, to take out cover immediately. The company presents itself as an appointed representative of Lifetime Protection Services Limited, an entity authorised and regulated by the Financial Conduct Authority (FCA) under number 535386, and primarily serves customers in the UK.

Products and types of cover

SaveOnLife.co.uk's range covers various forms of personal protection. These include:

• Level Term Life Insurance: also known as family protection, it pays a fixed lump sum if the insured dies during the policy term. If death does not occur during that period, the policy ends with no return of premiums.
• Decreasing Term Life Insurance: known as mortgage protection, its sum assured decreases in line with the outstanding mortgage balance, so premiums are usually lower than for level term.
• Whole of Life Insurance: covers the insured for their whole life and guarantees payment whenever death occurs, provided premiums are maintained. It is designed to cover funeral costs or potential inheritance tax liabilities, and is usually more expensive than term cover.
• Critical Illness Insurance: can be added to level term and decreasing term policies for an additional cost and pays a lump sum if a defined critical illness is diagnosed during the policy term.
• Guaranteed Acceptance Insurance: no medical questions, with guaranteed acceptance. The website states it is available for people aged 49 to 85 in the over-50s option, and 18 to 64 in accident protection.
• Income Protection: designed to cover loss of income due to illness or incapacity for work.
• Accident and Injury Protection: includes options designed to protect dependent children as well.
• Diabetic Life Insurance: a specific line for people with diabetes.
• SunLife Over 50s: a product for the over-50s marketed under that brand.

A guided quote process

The platform does not simply show a list of prices. The online journey starts by asking the user what they want to protect and why, then estimates the level of cover needed and asks quick questions about their personal situation. With those answers, the system filters the types of policy for which the applicant is most likely to be accepted, reducing exposure to options they probably could not take out. The company states that this approach brings together in a single journey types of cover that traditionally require separate searches, such as term insurance, over-50s plans and guaranteed acceptance.

Where the product allows online purchase, the user can see the options, check their cost and get covered without waiting for a sales call. If they prefer personalised assistance, SaveOnLife.co.uk has a UK-based team that explains alternatives, answers questions and helps find suitable cover. The company notes that an FCA-regulated expert contacts the customer after they submit their details to discuss the quotes.

Best price promise and inheritance tax planning

SaveOnLife.co.uk offers a best price promise: if the customer finds a cheaper life or critical illness insurance quote within 30 days, they can contact the company to try to beat it. According to the published terms, proof of the offer may be requested, it must be valid for five business days from receipt, and the promise does not apply if there have been changes in health or circumstances affecting acceptance of the policy.

The company also states that its experts can help place the policy in trust, with the aim of avoiding inheritance tax bills for beneficiaries.

Track record and ratings

The company states it has spent more than a decade helping tens of thousands of people across the UK protect their loved ones. At the time of analysis, the website showed a rating of 4.8 out of 5 on Trustpilot, based on more than 330 customer reviews. SaveOnLife.co.uk also presents itself as an option for those looking for life insurance for the first time, have been declined previously or want to compare existing cover.

Location and contact

Phone: 0131 608 1828 · Email: info@saveonlife.co.uk