Life insurance for insurance brokers
Insurance brokers spend their careers advising clients on managing risk — but their own personal protection is just as important. Whether employed by a firm or running an independent brokerage, life insurance ensures your family is financially protected. Don't overlook your own financial planning while helping others with theirs.
How much does life insurance cost for insurance brokers?
Insurance brokers are classed as preferred risk by most UK life insurers. A healthy non-smoking 35-year-old insurance broker can typically get £200,000 of level term cover for £12–£22/month.
How much life insurance do insurance brokers need?
A common starting point is 10 times annual salary, plus enough to cover your outstanding mortgage. Consider your dependants, any outstanding debts, and whether a partner's income alone would cover household costs.
Should insurance brokers also consider income protection?
Yes — life insurance only pays on death. Income protection covers you if illness or injury prevents you from working while you're alive. For most insurance brokers, the probability of a long-term illness during your working life is significantly higher than dying. Both products are important parts of a complete financial plan.
Writing your policy in trust
Always consider writing your life insurance in trust. This ensures the payout reaches your beneficiaries quickly without going through probate, and keeps it outside your estate for inheritance tax purposes. It's free to set up.
Frequently Asked Questions
Insurance brokers are classed as preferred risk by most UK life insurers. For most insurance brokers, premiums are primarily driven by age, health, and smoking status.
Yes — always disclose your occupation accurately. Some high-risk roles may affect premiums or exclusions.
Most people choose a term that lasts until their mortgage is paid off and their children are financially independent — typically 20–30 years.