Why choose us?

Co-op Life Cover has a variety of different features including:

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 pay-out or monthly income could go to any of your dependents 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 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.

Choose from three types of cover

The main types of life insurance we offer are Level Cover, Decreasing Cover and Monthly Income Benefit.

Each cover type is suited to a particular situation, with the most common being level term cover.

  • Level Cover. We'll pay out a fixed lump sum amount to your dependants. So your life pay-out will stay the same
  • Decreasing Cover. Helps to cover any debts that will decrease over time, such as a repayment mortgage
  • Monthly Income Benefit. Provides a family with up to £2,500 of monthly income for the remainder of the policy.
Dad cutting young daughters meal into bite size pieces

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.

Father and daughter embracing

What is life insurance?

Life insurance is cover designed to pay out an amount of 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 pay out or monthly income could go to any of your dependants such as a partner, your children or anyone else who depends on you financially.

The money can then go towards paying a mortgage, funeral costs, or any debts.

It will cover the important expenses you’d want to see taken care of once you’re gone.

Thinking about those costs and the people you might leave behind can be hard, but taking out life insurance is a key part of your financial planning, especially for people with dependants.

Make a claim

If the policyholder has died, please call us on 0345 268 6082^ to register a claim.

You should also call this number if you have developed a serious illness and have Serious Illness Cover.

We’ll then send out a claim form, which needs to be filled in and returned to us.

Once we’ve received the claim form, we may ask for more information. We won’t be able to pay a claim until we’ve received all the information we need. After we've received all the information we aim to pay claims within 3 working days.

Documents we may need to see include:

  • proof of the policyholder’s death such as the original death certificate
  • the original birth certificate of the policyholder
  • evidence of a change of name – for example, a marriage or civil partnership certificate
  • medical evidence, which may include full medical records.

Depending on the claim, we may need to see other documents. But we’ll only ask for things that we reasonably need to approve the claim, such as the policyholder’s Will or other legal documents.

Frequently asked life insurance questions

How quickly will you pay out on life insurance?

We know that it may be a difficult time when a life insurance claim is being made, so we’ll deal with the claim as quickly as we can.

Once we’ve received all the information we need, we'll make payment within 10 working days.

Can I assign my policy to a third party or place it in trust?

Yes, you can assign your policy to a third party. This could be a:

  • person,
  • trust,
  • bank,
  • building society.

Doing this would mean that you would be transferring ownership of your policy to the third party and giving away all rights under the policy to that third party.

In the event of a claim, we would pay any claim to that third party.

You can also place your policy under trust. This allows you to nominate trustees who in turn will pay the cash sum to nominated beneficiaries in the event of a claim.

If you’re thinking of assigning your policy to someone else, or placing it under trust, we suggest you seek professional advice.

Can I cash in my life insurance?

No, this is a life insurance policy, not a savings plan. If you cancel, the policy will end and you will get nothing back.

Will my premiums go up in the future?

No, we’ll never make you increase your monthly premiums.

How long does cover last?

You specify how long you want the cover to last for when you apply for the policy. The term can be as little as 5 years or as long as 50 years.

You can decide how long you want the cover to last when you apply for your policy.

How do my family claim on my life insurance?

To make it easier for your family at a difficult time, please keep your policy documents safe and let your next of kin know where to find them.

Your family should call our dedicated life insurance claims line on 0345 268 6082^.

Our UK-based, trained staff will deal with the claim with kindness and sympathy.

Lines are open:

  • Mon to Fri: 8am–7pm
  • Sat: 9am–5pm
  • Sun: 10am–4pm.

If your family prefer to send us a letter, they can send it to:

Customer Services
PO Box 445
Royal London House
Alderley Road

Your family can also email us at [email protected]

^Call charges

How much will you pay out?

Once we’ve accepted the claim, we’ll pay out the amount shown on your policy schedule to:

  • you, if you’re diagnosed with a terminal illness,
  • your loved ones, if you die.

How can I get in touch about life insurance?

By phone: 0345 268 6081^

Lines are open:

  • Mon to Fri: 8am–7pm
  • Sat: 9am–5pm
  • Sun: 10am–4pm.

By email: [email protected]

By post:
Customer Services
PO Box 445
Royal London House
Alderley Road

Can my partner apply too?

Yes, as long as they’re:

  • aged between 18 and 70,
  • a UK resident,
  • not a member or reservist of the Armed Forces.