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.
The Exeter Life Insurance
The Exeter stands apart in the UK life insurance market as a specialist provider dedicated to covering individuals with pre-existing health conditions. Operating as a friendly society since 1927, this Devon-based mutual insurer has no shareholders, allowing them to prioritise member needs over profit distribution. With over 90,000 members and more than a century of combined heritage, The Exeter has carved a unique niche by offering life insurance to people who might struggle to secure affordable cover elsewhere.
Their flagship ‘Real Life’ policy welcomes applications from individuals with serious or multiple medical conditions, high BMI, or complex health histories that other insurers might decline. Trustpilot reviews rate The Exeter at 4.2 out of 5 stars, with customers particularly praising their personalised underwriting approach and supportive claims handling. For those who’ve faced rejection or prohibitive premiums from mainstream providers, The Exeter represents a vital alternative in protecting their family’s financial future.
What types of Life Insurance do The Exeter provide
Real Life - Level Term Life Insurance
Real Life - Decreasing Term Life Insurance
Single Life Cover Only
Managed Life (Diabetes and High BMI Specialist Cover)
Policy Benefits
The Exeter’s Real Life policy includes comprehensive benefits designed around accessibility and member support. Terminal illness cover comes as standard, allowing early payout if diagnosed with a condition giving life expectancy under 12 months within the policy term. Free accidental death benefit provides temporary cover up to £250,000 (or £500,000 for mortgage protection) while your application is processed, protecting applicants under 55 from day one.
Every policyholder gains access to HealthWise, The Exeter’s free member app delivering substantial healthcare support. Services include unlimited remote GP appointments, annual health MOT assessments, up to two specialist second medical opinions yearly, physiotherapy consultations, mental health support, registered dietitian advice, and lifestyle and nutrition consultations—each available up to six times annually. This comprehensive wellness package extends to immediate family members at no additional cost.
The policy offers genuine flexibility to adjust cover as circumstances change. You can request increases or decreases anytime, with premium adjustments reflecting the new cover level. Waiver of premium automatically applies if you hold income protection with The Exeter—if you’re receiving income protection payments due to illness or injury preventing work in your occupation, they’ll waive your Real Life premiums for the duration of that claim.
Joint Life Separation Option allows couples with two single policies to separate them without fresh medical evidence if divorcing, dissolving a civil partnership, or separating. The Beneficiary Nomination feature enables straightforward selection of who receives your benefit and in what percentages, while Trust options provide tax-efficient estate planning alternatives.
What's Covered
The Exeter Real Life policy provides financial protection for two specific circumstances. The primary benefit pays a lump sum upon death during the policy term, regardless of cause, provided all information disclosed at application was accurate and complete. The policy covers death from any cause including accidents, illness, natural causes, or sudden unforeseen events.
Terminal illness benefit activates when you’re diagnosed with a condition where medical opinion confirms life expectancy of less than 12 months within the policy term. This early release allows you to use the funds while alive, potentially covering private medical care, making home adaptations, settling debts, or creating final memories with family.
For applicants under 55, accidental death during application processing is covered up to £250,000 (£500,000 if protecting a mortgage). This free temporary protection bridges the gap between application and policy commencement, ensuring immediate peace of mind.
The cover operates throughout the UK and extends worldwide—if you die or receive a terminal diagnosis anywhere globally during the policy term, your beneficiaries can claim the full benefit amount. There’s no requirement to notify The Exeter of travel plans or international relocation, though you must remain a UK resident at application.
What's Not Covered
The Exeter Real Life policy contains specific exclusions that applicants must understand before purchasing. The primary exclusion applies to non-disclosure or misrepresentation during the application process. If you provide false information, omit material medical facts, or misrepresent your health, lifestyle, or circumstances when applying, The Exeter may decline claims and void the policy. This underscores the critical importance of complete honesty during underwriting—even seemingly minor omissions can invalidate cover.
Suicide within the first 12 months of policy commencement is typically excluded, though this exclusion period may vary. After this initial period, suicide is generally covered. Pre-existing conditions known at application are factored into underwriting rather than being absolute exclusions. The Exeter’s specialist approach means they assess each condition individually, potentially applying loadings, exclusions, or specific terms rather than blanket declinations.
Terminal illness with life expectancy exceeding 12 months doesn’t trigger payout—the diagnosis must confirm less than one year to live within the policy term. If your terminal condition extends beyond 12 months, the life cover continues but the terminal illness benefit doesn’t apply until death actually occurs.
The policy excludes death occurring after the policy term ends. If your 25-year term expires and you die at age 70, no benefit is payable. Coverage ceases completely at term end or your 90th birthday, whichever comes first. Claims arising from war, terrorism, or nuclear incidents may face restrictions depending on specific policy wording and circumstances.
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How it compares to other UK providers
The Exeter occupies a unique position in the UK life insurance market, operating primarily as a specialist rather than mainstream provider. Unlike household names like Aviva, Legal & General, or Zurich, The Exeter deliberately targets individuals with health complexities. Their Real Life policy accepts applications from people with serious conditions including cancer histories, heart disease, diabetes complications, autoimmune conditions, mental health diagnoses, and high BMI up to and exceeding 50—circumstances where standard insurers might decline or charge prohibitive premiums.
Defaqto ratings reflect this specialisation: The Exeter’s level and decreasing life insurance policies hold 3-star ratings compared to 5-star ratings from providers like Aviva and Legal & General. This doesn’t indicate lower quality but rather fewer additional features—The Exeter focuses on core protection rather than extensive optional extras. However, their Income Protection earns a 5-star rating, showcasing expertise in specialist protection.
Premium pricing varies significantly based on individual health profiles. For healthy applicants, mainstream providers typically offer cheaper quotes. However, for those with medical histories, The Exeter often provides more competitive pricing than standard insurers applying substantial health loadings. Their individualised underwriting assesses actual risk rather than applying generic category-based pricing.
Application accessibility differs markedly—The Exeter doesn’t sell directly to consumers or through price comparison websites. You must apply through a specialist broker, which some find inconvenient but others appreciate for the expert guidance through complex medical underwriting. Providers like Aviva and Legal & General offer direct purchase options.
The Exeter doesn’t offer critical illness cover as a standalone product or add-on to life insurance, unlike most competitors. If you want combined life and critical illness protection, you’d need separate policies from different providers. However, their income protection products provide complementary protection for illness-related income loss.
Trusted Life Insurance Advisor
Our Verdict
The Exeter deserves serious consideration if you fall into their target demographic: individuals with pre-existing health conditions, high BMI, complex medical histories, or previous insurance declinations. Their 90% claims payout rate in 2023 demonstrates reliability, with the remaining 10% declined specifically due to application misrepresentation rather than legitimate claims disputes. This transparent approach to claims handling reflects their member-focused ethos as a mutual organisation.
The HealthWise app represents exceptional added value, particularly the unlimited GP appointments and specialist consultations. For families managing ongoing health concerns, these benefits alone could justify choosing The Exeter even if premiums are marginally higher than alternatives. Their personalised underwriting approach means real humans assess your circumstances rather than automated systems applying blanket exclusions—crucial for anyone with nuanced medical histories.
However, limitations exist. The absence of joint policies and critical illness cover restricts flexibility compared to comprehensive providers. The 3-star Defaqto rating indicates basic feature sets—you won’t find some bells and whistles available elsewhere like children’s critical illness cover or extensive additional benefit options. Application exclusively through brokers adds a step some consumers find unnecessary, though this ensures expert guidance through complex underwriting.
Customer reviews paint a mixed picture: many praise responsive staff and fair claims handling, while others report communication delays and administrative frustrations. The 4.2 Trustpilot rating sits slightly below premium providers but remains respectable for a specialist insurer.
For healthy individuals with straightforward medical histories, mainstream providers likely offer better value and more features. But if you’ve struggled to secure affordable life insurance due to health complications, The Exeter could be exactly what you need. At Insured Life, we regularly recommend The Exeter for clients who’ve been declined elsewhere or quoted unrealistic premiums by standard insurers. Their willingness to genuinely assess individual circumstances rather than applying rigid exclusions makes them invaluable for protecting families others might consider “uninsurable.” Don’t let health conditions prevent you from securing your family’s future—let us compare The Exeter against the whole market to find your optimal protection solution.
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