Martin Lewis and life insurance
The consumer guidance he is best known for, explained plainly, with a tool that answers the question it starts with: do you actually need cover?
Independent information. Life Adviser is not affiliated with, endorsed by, or connected to Martin Lewis or MoneySavingExpert, and we do not speak for them. This guide explains widely published consumer guidance in our own words. For his current views, go to MoneySavingExpert directly. Martin Lewis has repeatedly warned that his name and image are used in adverts without his permission, and he does not endorse any life insurance firm.
The guidance he is known for
Martin Lewis and MoneySavingExpert have long promoted a small set of consumer principles around life insurance. They are not complicated, and they hold up well.
- Only buy it if someone depends on you. If nobody would suffer financially if you died, you probably do not need it. This is the point most often skipped by sales led advertising.
- Buy it early if you need it. Age is the biggest driver of price, and the premium is usually fixed for the life of the policy, so starting younger locks in a lower rate for decades.
- Term cover is usually the cheapest. Level or decreasing term for a set number of years generally costs far less than whole of life.
- Check what you already have. Many people hold death in service cover through an employer, typically a multiple of salary. Factor it in before buying more.
- Tell the truth on the application. Non disclosure is the main reason claims are declined. Full honesty about health, weight and smoking protects your family.
- Consider writing it in trust. Often free, can speed up payment, and usually keeps the payout outside your estate for inheritance tax.
- Do not confuse it with over 50s plans. Guaranteed acceptance plans are a different product with different economics.
Do you need cover, and how much
Do you actually need cover, and how much?
The guidance starts with a blunt question: would anyone be worse off financially if you died? This works through that, then sizes the cover if the answer is yes.
An estimate, not personal advice. It does not account for savings, other policies or state support, all of which reduce what you need.
What it means in practice
Taken together the guidance points at one conclusion: work out whether anyone actually relies on your income, size the cover to the real liability, then buy the simplest product that does that job. Our life insurance calculator goes into more detail, and how much life insurance costs sets out typical prices.
What it actually costs
| Cover type | What it does | Typical relative cost |
|---|---|---|
| Decreasing term | Payout falls with a repayment mortgage | Cheapest |
| Level term | Fixed sum for a set number of years | Moderate |
| Whole of life | Pays out whenever you die | Most expensive |
| Over 50s plan | Guaranteed acceptance, fixed sum, waiting period | Low monthly, but can total more than it pays |
Relative cost for the same person and sum assured. Actual prices depend on age, health and lifestyle, so compare quotes.
The over 50s warning
Guaranteed acceptance over 50s plans accept you without health questions, but they usually carry a waiting period, the payout can be modest, and if you live long enough you can pay in more than the plan pays out. They suit some people, particularly for funeral costs, but they are not a like for like swap for term cover. See over 50 life insurance, and the over 50s cost calculator which shows the break even age on any plan.
Adverts using his name
Martin Lewis has said publicly and repeatedly that he does not do adverts, and that any advert using his face or name to promote a financial product is not endorsed by him. If you see a life insurance advert implying he recommends a particular provider, treat it with real caution and check the firm on the FCA Register before giving anyone your details.
“The single most useful thing in that guidance is the bit that loses firms money: if nobody depends on your income, you probably do not need life insurance. We would rather tell someone that than sell them a policy they do not need. Everything else follows from being honest about who actually relies on you.”
Frequently Asked Questions
Does Martin Lewis recommend a life insurance company?
No. Martin Lewis has said publicly that he does not endorse financial products or firms, and that adverts using his name or image to do so are not authorised by him. Life Adviser is not affiliated with or endorsed by Martin Lewis.
Is Life Adviser connected to MoneySavingExpert?
No. Life Adviser is a trading style of PJG Financial Limited and has no connection to MoneySavingExpert or Martin Lewis.
What type of life insurance is usually cheapest?
Term life insurance, which runs for a set number of years, is generally the cheapest. Whole of life lasts for life and always pays out, so it costs more.
Should I buy life insurance if I have cover through work?
Employer death in service cover is usually a multiple of salary and ends if you leave the job, so many people top it up. Check what you have before deciding how much extra you need.
Do I need life insurance if I have no children?
Not necessarily. If nobody depends on your income and no debt would pass to anyone, cover is often unnecessary. A joint mortgage is the common exception.
Is it worth putting life insurance in trust?
For most families yes, and it is usually free. It can speed up payment to your family and normally keeps the payout outside your estate for inheritance tax.
How We Researched This Guide
This guide summarises consumer principles that have been widely and consistently published in UK money guidance, expressed in our own words. We do not quote Martin Lewis or MoneySavingExpert directly and we are not affiliated with them.
The calculator uses the standard approach of adding outstanding debt to a multiple of income for the years dependants would need support, then deducting existing cover.
- MoneyHelper, impartial government backed guidance on life insurance and how much cover to hold.
- Association of British Insurers, protection claims data 2024, for claims paid and reasons for decline.
- Published UK insurer product terms, 2025 to 2026, for relative cost of cover types and over 50s plan structures.
Sources
- MoneyHelper, impartial guidance on life insurance, including working out how much cover you need and writing policies in trust.
- Association of British Insurers and Group Risk Development, protection claims data 2024, published July 2025: non disclosure is the main reason life claims are declined.
- Published UK insurer product terms and key features documents, 2025 to 2026, for cover type pricing and over 50s plan waiting periods.
- Public statements by Martin Lewis that he does not endorse financial products and that adverts using his image are unauthorised.
Compare life insurance quotes
Answer a few questions and we will compare cover from a range of UK insurers. Free to use, with no obligation.
Life Adviser is a trading style of PJG Financial Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 919697). We are an insurance broker, not an insurer. We help you compare life insurance and protection products from selected UK insurers, brokers and adviser partners, and we may receive a commission if you take out a policy. Quotes, cover, premiums and acceptance are subject to eligibility, underwriting and insurer terms. This page is general information, not personal advice.