Life insurance for letting agents
Letting agents and property managers — whether employed by a large agency or running their own business — rely on their skills and client relationships to earn. Life insurance protects your family's financial security if you die. For those running their own agencies, business protection alongside personal life insurance is worth considering.
How much does life insurance cost for letting agents?
Letting agents are classed as standard or preferred risk by most UK life insurers. A healthy non-smoking 35-year-old letting agent can typically get £200,000 of level term cover for £12–£22/month.
How much life insurance do letting agents 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 letting agents 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 letting agents, 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
Letting agents are classed as standard or preferred risk by most UK life insurers. For most letting agents, 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.