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Life Insurance

Protect your
loved ones from as little as £5 a month

  • Tailored to suit your needs
  • Pays out in one lump sum
  • Cover for up to £1,000,000
Get Quotes

Why Life Insurance?

Make sure your family have the financial support they need should the worst happen.

If you pass away while your policy is active, they’ll receive a lump sum. This could help them:

  • Maintain a standard of living
  • Pay off the mortgage
  • Pay for childcare
  • Replace an income
  • Afford everyday living costs
  • Pay for funeral arrangements

What's included?

We offer Life Insurance that’s tailored to suit your needs. Read below to find out more:

Up to £1,000,000 cover

  • The amount of cover you need will depend on who or what you want to protect
  • It could be enough to cover your family’s cost of living, or to cover debts, like a mortgage

Cover for up to 50 years

When deciding how long to take your policy out for, you may want to think about:

  • If you have a mortgage, how long you have left on it
  • How long any dependants will need financial support

You’ll also need to think about your age when the policy ends:

  • For Life Insurance only, your policy must end before you turn 90
  • For Critical Illness cover, your policy must end before you turn 85

Lump sum cover

Tax free lump sum for your family in the event of a claim.

Level or Decreasing term options

Level Decreasing
The cover amount will not change during the policy term. The cover amount will reduce over the term of the policy - ideal if you want to pay off a repayment mortgage.

Terminal Illness cover is included

If you’re diagnosed with a terminal illness and are given less than 12 months to live, the policy may pay out early to help support you financially.

Critical Illness cover can be added

If you’re diagnosed with a critical illness, you may receive a lump sum pay out to help you while you’re ill.

The illnesses covered vary from insurer to insurer, but the most common are:

  • Heart attack
  • Stroke
  • Types of cancer

Joint cover

You can add another person to your Life Insurance policy to create a joint policy. The policy will pay out when the first person passes away.

Remember, it’s worth covering the life of a stay-at-home parent as well as a working one. If they were to pass away, taking care of children could be a significant financial burden.

Want to know more?

For further details about Ocean Life Insurance, please read our Important infomation document.

Panel of UK leading insurers

How can I apply?

  • Answer a few quick questions online
  • Compare quotes and prices
  • Complete your application with a Life Insurance expert
Get Quotes

Want to speak to an expert?

If you need some guidance with your application, one of our friendly experts can help you over the phone.

Call: 0161 413 4698

Mon to Thurs: 9am to 8pm
Friday: 9am to 5.30pm

Free Trust Service

Anyone who takes out a policy can place it into trust, and our customer care team will help you do this.

Why would I put my policy in a trust?

  • You choose who you want the money to go to in the event of your death
  • The money will usually be paid out quicker, helping to avoid lengthy legal processes
  • It helps to avoid inheritance tax

Common questions

What is Life Insurance?

Life Insurance is a way to give your family the financial support they may need in the event of your death.

If you pass away while your policy is active, your family will receive a lump sum of money.

This can be used to help with mortgage payments, or to pay off your mortgage altogether. It could also be used to secure your children’s future – whether that’s covering their education and university fees, or anything else they may need.

Please note, the policy doesn’t have a cash-in value. If you cancel your policy, or if it expires, you will not receive any money back.

How do I take out a policy?

Tell us how much cover you’d like, how long you would like the cover for, the type of cover you’d like and some personal details and we’ll give you a quote from a panel of leading providers.

If you’d like to go ahead, we’ll then give you a call to complete your application.

You’ll pay your premium each month and you’ll be covered - it’s as simple as that.

Do I need Life Insurance?

If you have a partner, children or someone who relies on you financially, Life Insurance can be a good idea.

It will pay out a lump sum to help them financially if you were to pass away.

Likewise, if you have debts or loans that may become someone else’s responsibility if you pass away, or an outstanding mortgage, Life Insurance could help pay these off in the event of your death.

What is level term insurance?

The amount you are covered for stays the same throughout the policy, and the monthly or annual premium usually stays the same too.

You will choose how long you want your level term policy to last.

What is a decreasing policy?

A decreasing policy is where the amount of cover reduces over the term of the policy.

If your commitments get smaller over time, for example a repayment mortgage balance, this may be an option for you.

What is Critical Illness cover?

If you’re diagnosed with a critical illness, you could receive a lump sum pay out.

This could help to pay off your mortgage, maintain your family’s standard of living, pay for childcare, or whatever else you may need it for.

The illnesses covered vary from insurer to insurer, but the most common are heart attack, stroke and types of cancer.

This can be added at an additional cost when taking out a Life Insurance policy.

What is Terminal Illness cover?

If you’re diagnosed with a terminal illness and are given less than 12 months to live, the policy may pay out early to help support you financially.

Terminal Illness cover comes as standard with your policy.

How do I decide the length of the term?

This will really depend on your situation. There are certain things you can consider:

  • How long you have left on your mortgage
  • How long your children will need your financial support
  • When you plan to retire
  • If you want to be covered for as long as possible (before your 90th birthday)

Latest blogs

Ocean Finance introduces customers to Ocean Insurance, which is a trading style of Think Insure Limited (Company Number 04280977). Think Insure Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 310071). Registered Office: Think Park, Mosley Road, Trafford Park, Manchester, M17 1FQ. Insurance is arranged from a panel of insurers.