Getting a quote · 4 min read
Compare the cover behind the quote
THE SHORT ANSWER
How should I compare two life insurance quotes?
Use equivalent inputs and compare the policy terms as well as the displayed premium. Check the amount of cover, duration, currency, payment basis, exclusions and optional benefits. Prices are indicative only, not an offer of insurance. Final premiums are confirmed by the insurer after underwriting.
Keep your inputs consistent
Use the same personal details, cover amount and duration where possible. Term and permanent cover have different structures; a payment figure alone does not make them equivalent. Record differences in duration, guarantees and funding assumptions before comparing.
Read beyond the headline
Ask which benefits are included and which are optional. Note any exclusions, conditions or requirements that matter to your situation. A useful comparison explains what your family would receive, when and under which terms.
Check the payment basis
Record the currency, frequency and whether payments are fixed or reviewable. If a quote uses assumptions or remains subject to medical assessment, keep that qualification beside the figure.
Review before replacing existing cover
Replacing a policy may involve fresh underwriting, different exclusions or surrender charges. Ask an adviser to explain the consequences. Keep existing cover until the replacement is confirmed in force and you understand any gap or change in benefits.
MAKE IT PRACTICAL
Questions to take with you
- Same cover amount and duration?
- Same currency and payment frequency?
- Same included and optional benefits?
- Clear exclusions and underwriting conditions?
- Written confirmation before replacing cover?
This guide is general information, not a personal recommendation or legal or tax advice. Confirm your eligibility and policy terms with the insurer.
Prepared and source-checked with AI assistance. This is not an independent professional review. Read our editorial policy.
Updated 28 October 2026: Added limits on comparing different product structures and the consequences of replacing existing cover.
Sources & further reading
Sources checked 28 October 2026. Product terms can change. UK and US consumer resources provide general education, not advice about the rules in your country.
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Get a quotePrices are indicative only, not an offer of insurance. Final premiums are confirmed by the insurer after underwriting.