Reasons to choose
Terminal illness cover
If you are diagnosed with a terminal illness the full amount of cover could be paid out early when life expectancy is less than a year.
Critical illness cover add on
For an extra cost, you can be covered for specified critical illnesses such as heart attacks, strokes and some cancers with critical illness cover.
Payment holiday
If you are struggling to pay you can take a 3 month payment break after the first year. After this break any arrears need to be repaid and other criteria apply.
From £5 a month
You pay a fixed amount each month and providing you do not make any changes to your policy this will never increase.
5 Star Defaqto rated cover
Defaqto is one of the UK’s most trusted sources of financial product and market intelligence. It has given this cover 5 stars, which is the highest rating possible.
97% of life claims paid
With 97% of claims approved in 2024, you can trust that your family will be supported when it matters most.
5 Star rated cover
Defaqto is one of the most trusted sources of financial product intelligence. It has given this cover 5 Stars, which is the highest rating possible.
Moneyfacts consumer awards
Moneyfacts award the best insurers in the UK. Consumers have chosen our partner, L&G, as the Life Insurance Provider of the Year (Direct) each year for 6 years in a row, 2020-2025.
What is life insurance?
Life insurance gives money to your loved ones if you die while covered by the policy. If you're diagnosed with a terminal illness with a life expectancy of a year or less, it could pay out early. It's all about giving financial help to you and your family if something bad happens.
This type of insurance is called 'term' life insurance. You pay for the duration of the policy, usually 10 to 30 years. The payout can go to your partner, children, or anyone you choose to support. The money can help pay off a mortgage, cover debts, pay for a funeral, or support your family financially.
Eligibility
You are eligible for life cover if you are:
- at least 18 years of age
- currently living in the UK and have spent at least 6 months (183 days) in the UK in the last tax year
Do I need life insurance or over 50 life insurance?
If you are over 50, you might think over 50 life insurance is your only choice. But life insurance is another option.
The main difference is how long the cover lasts. Life insurance runs for a set number of years and usually covers a larger amount. It can help with big costs like paying off a mortgage. Over 50 insurance lasts for the rest of your life and is often used to leave a small gift or help with funeral costs.
You could choose one or even have both. The right choice depends on what matters most to you.
Co-op Member Prices
As well as 5% off Co-op Life Insurance for the whole time you have the policy, members also get:
- lower prices in our food stores and online
- personalised offers every week
- access to presale tickets for Co-op Live, the UK's biggest arena
- a say in how Co-op is run
If you’re not yet a Co-op Member, you can sign up using the ‘Become a member’ button. This will include a one-off £1 joining fee.
What's included
These are the things we think you may need to know. For further information, please see the policy booklet and check if it meets your needs.
Cash lump sum
up to £10 million
You can choose how much cover you need and how long you need it for. It could be used to leave money for loved ones or help repay the mortgage if you were to die. Your fixed monthly cost will never change unless you make changes to the policy.
Terminal illness cover
included as standard for policies with a minimum term of 2 years
If you're diagnosed with a terminal illness with a life expectancy of a year or less, it could pay out early. This needs to be confirmed by your hospital consultant and a qualified doctor employed by L&G.
Funeral advance
up to £10,000
This gives an initial payment to a funeral home for funeral expenses if a claim is accepted. This helps when there are delays such as waiting for probate documents.
Payment holiday
up to 3 months
If you are struggling to pay after a year's cover, provided it has been agreed beforehand and you make the payments back when agreed your policy will stay in place.
Single or joint policy
up to 2 people
Cover can be for 1 person or for 2. If the first person passes away while the policy is active, in the event of a valid claim it pays out and the cover ends. After this, the second person isn't covered.
Policy documents
Your policy documents contain information about the features, exclusions and limitations of our life insurance policies.
Key limitations
Life Insurance from Co-op is offered through Co-op Insurance Services and is underwritten and administered by L&G (Legal & General Assurance Society Limited).
Calls are charged at local rates from landline and mobiles. If your phone has inclusive minutes these calls are normally included.
Applicants for insurance are subject to normal underwriting criteria.
Co-op Insurance Services Limited will receive a percentage commission from your insurance payments.