Is Post Office The Best Life Insurance Policy?

antoine fruchard Antoine Fruchard  updated on July 29, 2020

This is the ultimate review to guide you through the ins and outs of Post Office life insurance. You might already know that Post Office has several different contract options. 

Some are great. Some are less useful. Some are simply too expensive.

So, if you want to get better value for money from your insurance contract, as well as indicative quotes and tips to lower your insurance premium, then you’ll probably love the following article.

Let’s dive right in!

Is Post Office the best life insurance for you?

When taking out life insurance, there are so many things to think about. Life insurance is one of the most important insurance plans to have, as it is the best way to protect your loved ones if something happens to you. 

Post Office life insurance has a lot to offer. Here are the main points that you should look at before taking out life insurance with Post Office. 

4 Safe overall rating for Post Office

Rating CriteriaSafe RatingOur Review
Customer service satisfaction, claims and support

4 star rating on Defaqto
Post Office won the 2018 award for the Best Direct Life Insurance Provider
Post Office was voted the Best Online Life Insurance Provider 2019 by YourMoney.com
No rating on TrustPilot

Coverage options

Cover of up to £15000 is provided for free for a one year duration for parents who have children that are less than 4 years old
There is a special insurance provided for people over the age of 50
Terminal illness cover is provided for all insurance policies except the over 50’s policy option
As there are many providers, the claims process can get tedious

Value for money

Cover of up to £500,000. This amount can be said to fall within the average rate
Cover can be gotten for as low as £7
A £50 gift vouchers is available for policyholders
The insurance policies provided by Post Office are designed to be flexible

Financial strength

Life insurance calculator is available on the website.
Quotes can be gotten online
Very detailed information is provided on the website
No option to fill out claims online
No chatbot

Apps and technologies

Life insurance calculator is available on the website
Quotes can be gotten online
Very detailed information is provided on the website
No option to fill out claims online
No chatbot

Safe rating for Post Office Life insurance

Expert and customer satisfaction reviews for Post Office

Review organisationConsumer satisfaction rates for Post Office Life insurance
TrustpilotNot available
Defaqto4
Experts rating for Post Office

Post Office insurance in a nutshell

In summary, here are the main features you need to know when taking out life insurance with Post Office. 

CriteriaPost Office details
Minimum age18 years
Maximum age 70 years
Pay-outUp to £500,000
Life insurance with free giftsA £50 gift voucher is given to policyholders to be used at either Amazon, M&S or Argos
Extras

No

Terminal illnessYes
Post Office life insurance in a nutshell

What are Post Office life insurance policy types?

When choosing life insurance, you have to make a lot of important decisions. You have to choose between different policy types to find which one would best cover your needs. As the first big choice, you have to choose between: 

  • Term life insurance. Term insurance splits into two types: level term or decreasing insurance. If you choose a term insurance, once again you would have to choose between these two. Sometimes, there is an increasing term insurance option. 
  • Whole of life insurance. This insurance will pay out when the policyholders die. Not all insurers offer this type of coverage. 

What is Post Office term life insurance? 

There are two term life insurance options:

  • Level cover guarantees that your loved ones get a payment if you die during a specific period of time. You will receive the same amount during a fixed period. Life insurance can be for 5,10, 20 years, etc., depending on your needs. 
  • Decreasing cover guarantees that your loved ones get a payment if you die during a specific period of time. The amount decreases over the policy term. It is really useful if you have a loan, as the price tends to decline over time. You can choose an increasing cover as well.
CriteriaPost Office life insurance
Minimum term5 years
Maximum term50 years
Pay-outUp to £500,000
Minimum monthly premium£7
Extras or any interesting facts 

No

Post Office term life insurance

Should you take level or decreasing term life insurance?

Post Office offers two types of term life insurance: one is level life insurance, the other one is decreasing life insurance. 

CriteriaProvider Details
Post Office term life insurance (level)
  • Term life insurance can be gotten for as low as £7 from Post Office
  • A sum of up to £500,000 is payable
  • Terminal Illness cover is provided
  • Critical Illness cover can be added to the insurance policy at an extra cost
  • The age limit for this cover is between the ages of 18-70 years
  • Health related questions are asked before the policy can be gotten
Post Office decreasing term life insurance, also known as life insurance for mortgage
  • A fixed amount is to be paid as a premium every month. This amount however is lower than the premium amount paid for the term life insurance
  • The payout amount reduces every month in line with a capital and interest repayment mortgage that has a fixed interest rate of 7%
Level or decreasing life insurance

Some providers also propose increasing life insurance, which is a similar concept as decreasing life insurance, but with the premiums getting higher rather than lower.

Post Office life insurance propose increase life cover

  • A fixed amount has to be paid per month
  • The payable amount will increase every year by 3%
  • The longer the duration of the insurance policy is, the higher the payable amount in the case that the policyholder dies while the insurance policy is still active

Can you take out a Post Office life insurance with someone else?

Yes, you can either have a single or a joint policy at Post Office.

Taking out a joint policy covers two people that are together under the same policy. In the end, it is cheaper than two single policies. It covers both of your contributions to the family. It only pays out once, and the sum will be given to the other partner if one dies. It leaves the surviving member of the couple without life insurance after the death of the first partner. 

Taking out a single policy pays for one person only. It pays out the amount chosen. Taking out two policies is more expensive, but you can choose the level you want, and it’s beneficial if the two partners don’t need to be insured at the same level. 

 What are Post Office life insurance extras? 

You can add these extras at additional cost to your Post Office life insurance: 

Details Reviews
Terminal Illness benefit

Post Office provides this benefit in the case that the policyholder is diagnosed with a terminal illness during the course of the policy term provided the terminal illness is one that can result in the death of the policyholder within 12 months.

Death benefit

A sum is paid in the case that the policyholder dies during the policy term.

Free Life Parent Insurance

The free life parent cover is a free one year fixed term life assurance policy with up to £15,000 worth of cover to be given in the case that the policyholder dies during the term of the policy.

Help Service

A Help Service is provided at no extra cost and a nurse is assigned to a family for support.

Life insurance calculator

There is an insurance calculator on the website that can help the policyholder know how much is needed in terms of insurance.

Post Office life insurance extras

Should you take out Post Office life insurance critical illness cover?

What is critical illness cover? 

It is an extra that can be added to your policy, or can be combined with your standard life insurance. It pays out if you contract a disease. The illness developed must be specified in your policy contract. The most common illnesses covered are cancer and heart attacks, etc. If you become really ill, your insurance will pay out exactly as if you’ve passed away. 

Is Post Office the best critical illness cover? 

Here are the main features when you take out Post Office life insurance with serious illness:

CriteriaOverall life insurance and critical illness cover
Coverage

The Life and Critical illness cover that Post Office provides offers the following:

  • Additional critical illness benefit is provided
  • Extra cover up to 25% of your life cover is given if the policyholder is diagnosed with a critical illness
  • Cover provided for only 3 critical conditions
Children’s Cover
  • The children cover provided by Aviva is valid from when the child is 30 days old till when the child is 21 years old.
  • The cover provides £15,000 worth of cover per child, for a maximum of 8 children.
What should you know about Post Office critical illness cover?
  • The Critical Illness Cover provided by Post Office can be added to the Life insurance policy.
  • It can only be added at the start of the policy.
Post Office life insurance

How much is Post Office life insurance?

The big question is knowing how much life insurance you’ll need. Your answer to this question (as well as your age) will mainly determine the price of your life insurance:

However, your life insurance price will also depend on several factors: 

  • Your medical conditions
  • Whether or not you are a smoker 
  • Which add-ons you add to your life insurance 
  • Your salary
  • The coverage you want
  • Whether you take out a joint policy or not 

So you must ask yourself the relevant questions for your own situation, for example: Do you have a loan? Do you have savings? Do you have debts? Do you have a family? Does your job offer protection? 

How to contact Post Office life insurance?

Here are all the important phone numbers for contacting Post Office life insurance: 

ServicePhone NumbersOpening Hours 
Get a quote at Post Office0330 123 3919Mon – Fri 8am – 7pm
Sat 9am – 5pm
How to claim at Post Office0345 266 1483Mon – Fri 8am – 7pm
Sat 9am – 5pm
How to cancel at Post Office

0345 266 1484

8am – 7pm, Mon – Fri
9am – 5pm, Sat
Post Office phone numbers

What are Post Office general contact details? 

You will find in this table all the general contacts that you would need if you want to reach Post Office life insurance: 

General contacts
Mailing address

London,
United Kingdom

Social media 

Facebook, Twitter, YouTube,

Chatbot

No

Post Office general contacts

How to claim at Post Office life insurance? 

You will find on this table the different possibilities for reporting a claim on your Post Office life insurance: 

How to claim on your life insurance at Post Office?
When to claim?

As soon as possible

Claim by mail

Customer Services
PO Box 427
Royal London House
Alderley Road
Wilmslow
SK9 0FE

Claim by emailNot available
Claim online

Not available

Claim by phone0345 266 1483
Claim at Post Office life insurance

How to cancel my Post Office life insurance? 

You will find on this table the different ways to cancel your Post Office life insurance: 

How to cancel your life insurance at Post Office
Fees
  • If you cancel within the 30 days cooling period, the premium paid would be refunded fully
  • If the cancellation is done after the cooling period, no refunds would be made
  • if you cancel your policy, you forfeit the ability to make a claim
Cancel by mail

Customer Services
PO Box 427
Royal London House
Alderley Road
Wilmslow
SK9 0FE

Cancel by email

Not available

Cancel onlineNot available
Cancel by phone

0345 266 1484

How to cancel my Post Office life insurance?

How do I get Post Office life insurance quotes? 

Here are the different ways to get a life insurance quote at Post Office: 

How to get a life insurance quote at Post Office
Quote online
  • On the Home Page, select the "Life cover" option
  • Click on the "Get in touch" option
  • Select the "Get a quote now" option
Quote phone0330 123 3919
Get a quote at Post Office

How do I log into Post Office life insurance?

Click on the "Account login" option on the Home Page

Do we recommend Post Office life insurance?

The Post Office has over 370 years of service in the UK. It offers more than 170 products and services to customers every day and has more than 11,500 branches nationwide.
They offer three types of life insurance policies which are: Life Insurance, Over 50s Life Insurance and Free Parent Life Cover. They also offer optional extras that can be added to these insurance policies. Some of them are the Terminal illness and Death benefit options. Post Office has a 4 star rating on Defaqto. The bad side of this insurance company is that the claims process is tedious as they are handled by more than one supplier. They are however known to be reliable and as such, their services are recommended.

What is life insurance? 

Life insurance is a contract between an insurance company and the policyholder. In exchange for an annual or monthly premium, the insurance company agrees to give out to a designated beneficiary a lump sum if the policyholder were to pass away. 

How does life insurance work in the UK?

Like with other types of insurance, it is a standard procedure: the policyholder pays a premium to a provider, with an agreed level of cover. 

Is life insurance worth getting?

Yes, it is worth getting life insurance when people depend on you financially, like your family.

What are the best life insurance with free gifts?

Lots of life insurance providers offer free gifts: 
– Royal London
– Legal & General
– Aviva
– Shepherds Friendly 
– OneFamily 
– British Seniors Insurance Agency

How much is life insurance in the UK? 

How much life insurance in the UK is depends on a lot of factors. However, with our data, we calculate that the average monthly cost of life insurance is £15. Of course, the price will depend on whether you take out joint or single life insurance, and the term of your insurance if you are not taking out  a whole life insurance policy. 

What is the best life insurance in UK?

There are lot of life insurance policy that have interesting features. Depending on these features, you can decide if this life insurance suits you. 
To find what is the best life insurance for you, use our tool to compare prices and offers from all the insurers on the market instantly.