Nigel Rowe is a finance professional specialising in protection and life insurance. Nigel supports individuals and businesses in safeguarding their financial futures through tailored insurance solutions.
Co-op Life Insurance
Co-op Life Insurance is a term life insurance policy offered through Co-op Insurance and underwritten by Legal & General, one of the UK’s most trusted insurers. The policy provides a tax-free lump sum to your loved ones if you die during the term or are diagnosed with a terminal illness.
Co-op Life Insurance combines straightforward protection with extra value for Co-op Members, including discounts, weekly offers, and a welcome gift, making it ideal for families who want both financial security and lifestyle benefits.
What types of Life Insurance do Co-op provide
Co-op currently offers two main types of life cover: standard term life insurance and over 50s life insurance.
Both are provided in partnership with Legal & General and are aimed at slightly different customer needs
Term Life Insurance
Co-op’s core life insurance is term cover, available as either level or decreasing insurance, usually taken out to protect a mortgage or family living costs. It can pay a lump sum up to a high maximum if the policyholder dies (or is diagnosed with a terminal illness meeting the policy definition) during the selected term, with an option to bolt on critical illness cover for an extra cost.
Over 50s Life Insurance
Co-op also offers over 50s life insurance with guaranteed acceptance for eligible UK residents aged 50 to 80 and no medical questions. It runs for life, with fixed premiums and a smaller guaranteed lump sum (up to a set limit) aimed at helping with funeral costs or leaving a modest gift, and premiums usually stop at age 90 while cover continues.
Add on Critical Illness cover
Policy Benefits
Co-op Life Insurance focuses on flexibility, affordability, and added value:
- Affordable premiums starting from £5 per month
- Payment holiday: take a break of up to 3 months if needed after the first year
- Member perks: Co-op Members receive discounts on premiums, weekly offers, and access to presale tickets for Co-op Live
- Free wills and estate planning review through Co-op Legal Services when purchasing a policy
These features provide both financial protection and practical support for everyday life.
What's Covered
Co-op Life Insurance ensures a payout in the most important circumstances:
- Death: a lump sum is paid to your beneficiaries during the term
- Terminal illness: early payout if diagnosed with less than 12 months to live
Optional critical illness cover adds protection for qualifying serious medical conditions. Funds can be used for mortgages, debts, daily expenses, or funeral costs, allowing families to focus on recovery rather than finances.
What's Not Covered
Co-op life insurance will not pay out in all situations, and the specific exclusions depend on the policy, so customers should always check their documents for full details. The points below cover some of the main limitations only.
- No payout if the policy term has ended or premiums have lapsed when the claim is made
- Over 50s plans usually only pay out in full for accidental death in the first year; other deaths may just refund premiums
- Claims can be declined for incorrect, missing or misleading medical or lifestyle information at application
- Critical/serious illness options only cover specific listed conditions that meet strict definitions
- Policies have no cash-in value and fixed lump sums can lose value over time, so may not cover all funeral or family costs
How to get Joint Life Insurance
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How it compares to other UK providers
Co-op Life Insurance combines a trusted insurer with the convenience of the Co-op network. Customers benefit from:
- Easy application online, over the phone, or in branch
- Clear guidance and transparent policy documents
- Reliable claims handled by Legal & General
The policy’s member perks and high Defaqto rating enhance the overall value for customers.
Trusted Life Insurance Advisor
Our Verdict
Co-op Life Insurance offers a solid and accessible option for UK residents looking for term life protection. Its main strengths lie in its simplicity, affordability, and the added value for Co-op Members, such as discounts, welcome gifts, and access to Co-op services.
The policy is particularly suitable for first-time life insurance buyers, young families, or those who value straightforward cover without complicated features. Optional add-ons like critical illness protection and family income benefit give flexibility, though they do increase premiums.
While Co-op Life Insurance may not offer the extensive range of options seen with some specialist providers, it delivers reliable protection backed by Legal & General, a well-established UK insurer. Overall, it’s a practical choice for anyone who wants peace of mind with the convenience of a trusted brand and some extra member perks.
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