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Provided by Cigna Life Insurance Company of Europe S.A.-N.V. Read more.
Just four simple questions to see if you are eligible. We won't ask for a GP referral, medical examination or test.
No medical examination
We won't ask for a GP referral, medical examination or test.
Quick and easy quote
Four simple questions to see if you are eligible.
Pays a lump sum
Pays out the cover amount in the event of your death or you are diagnosed with a terminal illness. Subject to Terms and Conditions.
What does it do?
Why choose it?
Here's what you need to know to buy a policy:
If you're not sure about any of the points, call Admiral Life Insurance for more information on this product and then get a quote over the phone.
There are different policy features you can select from:
A single life policy insures only you. A joint life policy insures two lives. You and the other insured life must have a shared financial interest (insurable interest). For example, joint financial commitments such as mortgages or children or two friends with a joint mortgage.
If you are part of a couple, you could consider taking out a single policy that will pay out in the event of one of you dying. This can be cheaper than paying the premiums on two separate policies, but bear in mind that joint policies only pay out on the first death - after that the cover ends. If you had two separate policies, the second policy would remain in force even after a claim had been made on the first.
Level Term Cover
With a level term policy the amount you are covered for is fixed when you start paying your premiums and it stays the same throughout the term. If you die within the policy term then a lump sum of money will be paid. This type of policy could be used to leave a lump sum for your loved ones, replace an income or cover an interest only mortgage (where the amount you owe on your mortgage remains the same).
Decreasing Term Policy
An option for those buying term life insurance is to have the potential payout fall year after year. This is most commonly to reflect the fact that mortgage debts are likely to be falling as more is paid off.
Choose from two types of premium:
This is not a savings or investment product and has no cash value unless a valid claim is made.
Yes - We will pay the sum insured if a terminal illness is diagnosed (unless within the last 12 months of the policy term), meaning death is expected within the next twelve months. For a full definition please read the policy Terms and Conditions.
The choice is yours whether you chose a level premium over a fixed term or an annually increasing premium for a fixed term. If you choose the annually increasing option, the premium will increase by 5% each year on the anniversary of the policy start date.
Premiums are calculated based on your age, the amount you choose to be covered for, if you smoke or not, the premium type (level or increasing) and the term chosen by you (premiums are gender neutral in line with the EU Gender Directive).
This type of cover is designed to look after your loved ones financially if you die and they are no longer able to rely on your income. The lump sum can be used for outstanding debts, day-to-day living or education costs for your children – your loved ones can spend it however they wish.
Level term cover - you set the length of the policy and the amount of cover you want, and this is fixed. If you die at any point in your cover the guaranteed lump sum you set will be paid out. Level cover is a good option for people looking to protect family finances by covering income or an interest-only mortgage.
Decreasing term policy - often called 'mortgage protection life insurance', a decreasing policy is regularly bought to clear a specific debt, often a mortgage, that's reducing over time. With this option, the amount you are covered for decreases over your policy term but your premium stays the same.
While everyone’s needs are different, you can estimate the amount of cover you need by adding up your financial commitments and include how much money your family would need if you were to die.
How long you’ll need cover for varies on individual circumstances but you could think about when your mortgage comes to an end or when your family and dependents will become self-sufficient to help you decide.
The cost of a £100,000 level term policy could be as little as £5.71 per month – based on a non-smoking 38-year-old insured over 15 years. Premiums will rise 5% each year with this type of policy.
Many companies offer a death-in-service benefit which normally pays out a lump sum if you die while still employed. While this is a good benefit you should weigh up if it is enough to cover any dependents you have.
You can ask to make changes to your policy by calling us on 0800 422 0072. You can request to change your sum insured and the policy term – any other changes would need to be discussed with an Admiral advisor on the number above.
We will not pay out the lump sum if the policyholder commits suicide within 12 months of the policy start date. And in the event of an increase to the sum insured, we will not pay out the amount by which it increased if the policyholder dies within 12 months of the increase. For further information see the Key Features booklet http://www.admiral.com/policyDocs/AD-Life-Level-Term-Keyfacts-0616.pdf
You won’t receive any money if you outlive the policy; at the end of your term you will no longer need to keep paying and the cover ends.
Admiral does not offer cover to existing drug users however we will pay out if someone dies from a drug overdose and they were not a drug-user at the time of taking out the cover.
Your loved ones can use the lump sum received to pay for a funeral if they wish.
Yes, it does cover accidents. For more information see the Key Features booklet http://www.admiral.com/policyDocs/AD-Life-Level-Term-Keyfacts-0616.pdf
Currently, any payment made is free from UK Income Tax and Capital Gains Tax. The government may change the tax position at any time.
Each policy is different and the timeline for pay outs will vary from person to person but rest assured Admiral Life Insurance will do its best to get the payment processed as quickly as possible.
Admiral Life Insurance is provided by CIGNA Life Insurance Company of Europe S.A. - N.V. UK Branch Chancery House, 1st Floor, St Nicholas Way, Sutton, Surrey, SM1 1JB. Registered in Belgium with limited liability (Brussels trade register no. 0421 437 284). Avenue de Cortenburgh 52, 1000 Brussels, Belgium, authorised by National Bank of Belgium and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available on request.
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