Life insurance

The two gift cards available to choose from for the life insurance offer.

With your choice of gift

  • £75 Love2Shop gift card

  • £75 B&Q gift card

Offer available to customers who purchase a new Co-op Life Cover policy direct. Offer ends 29 December 2022. Terms and conditions apply.

Life Cover is offered through Co-op Insurance Services and is provided, underwritten and administered by The Royal London Group.

What is life insurance?

Life insurance is cover designed to pay out money if you pass away. It could also cover you if you develop a terminal illness and are expected to survive for less than 12 months.

The payout could go to any of your dependants such as a partner, your children or anyone else who depends on you financially.

The life insurance money can then be used for things such as paying off a mortgage or other debts, paying for a funeral or to financially help your loved ones.

Why choose us?

Payment holidays

We give you the option to take a payment holiday, once you've had your policy for 12 months. You can take two breaks of up to six months over the lifespan of the policy*.

Money for your loved ones

The payout could go to any of your dependants such as a partner, your children or anyone else who depends on you financially.

Fixed monthly payments

You pay a fixed amount each month, this could be from as little as £7 per month. Monthly payments depend on amount, length, type of cover and your personal circumstances.

Terminal Illness Cover

Terminal Illness Cover is included at no extra cost, meaning that we pay out early if you're diagnosed with a terminal illness that meets our definition.

Our types of cover

Co-op Life Insurance offers two types of policy, level cover and decreasing cover.

Compare our cover types

Compare the differences between the two types of Co-op Life Insurance.

Level cover

Decreasing cover

Payout amount

Fixed for term of policy

Decreases over time

Monthly payments

Fixed for term of policy

Fixed for term of policy

Length of policy

You choose

You choose

Level and decreasing cover explained

Optional Serious Illness Cover

Serious Illness Cover is an optional extra that you may be able to add to your life insurance. If you choose to add it, you’ll pay an extra premium for this. You can’t have this cover on its own.

Serious Illness Cover is designed to pay out an amount of money if you develop one of the illnesses we cover. You'll receive a set amount of money if you're diagnosed with any of the following illnesses:

  • cancer
  • heart attack
  • multiple sclerosis
  • benign brain tumour
  • stroke
  • dementia.

The amount you’re covered for is called the serious illness pay-out. This can’t be less than £1,000 and the most we’ll cover you for depends on your age.

Existing customers

Frequently asked life insurance questions

* A payment holiday can be taken any time after the 1st year. You can take a break of up to 6 months from making monthly payments and the policy will continue. You can take up to 2 payment holidays over the term of the policy, but only 1 can be taken in a 12 month period. You have to make up all of the missed payments at the end of the holiday or reduce the payment amount. If a claim is made during the payment holiday, the payout amount will be reduced by the unpaid monthly premiums.

^Call charges may apply. Calls may be monitored or recorded for security and training purposes.

Applicants for insurance are subject to normal underwriting criteria.

A new customer is someone who has not had an insurance policy of the same type with Co-op Insurance or Co-op Insurance Services in the last 12 months.

Co-op Life Cover and Co-op Over 50 Life Insurance from Co-op Insurance Services is provided, underwritten and administered by The Royal London Group. The Royal London Group consists of The Royal London Mutual Insurance Society Limited and its subsidiaries; registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL. The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under register number 117672. Co-op Insurance Services Limited is not part of The Royal London Group.