Friends Life Life Insurance Reviews 2025

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 4th January 2025

Since 1810, Friends Life has been providing financial services. Founded in Yorkshire as Friends Provident in 1832, the company intended to provide life insurance to the Society of Friends, also called Quakers.

In 2000, it was listed on the London Stock Exchange and shot straight into the FTSE 100. In 2010, the AXA UK and Bupa Life Insurance divisions and Friends Provident merged to create the brand Friends Life.

The company offers pensions, investments, and life insurance products to more than five million customers worldwide.

When we search for the life insurance plans available, we review the policies Friends Life offers. This prevents you from having to do the legwork, allowing you to spend more time enjoying life than thinking about the end of it. Life insurance is essential, but no one wants to dwell on it.

Without comprehensive life insurance cover, would those close to you be able to do the following if you were no longer around to contribute financially?

Pay off the mortgage
Cover college tuition fees
Clear any outstanding debts that are in your name
Fund their current lifestyle
Buy a new property
Plan for a funeral and cremation costs
Deal with inheritance tax liabilities

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Why Not Leave It To Us?

People want to purchase the coverage they need so their loved ones will be cared for without having to do in-depth research.

Life insurance policies from Friends Life provide financial protection to loved ones. If the insured dies, named beneficiaries receive a cash sum to help make ends meet. The money may be used to pay immediate expenses like funeral costs or final bills.

Some prefer to use it for longer-term support, paying off a mortgage, loan, or other debt. The cash benefit can even be applied to higher education expenses for a child or grandchild or to cover basic living expenses over the years. Joint policies are available to partners who want to insure both of their lives.

Types Of Policies

The company offers term life policies that run for a specific period and whole-of-life policies that last a lifetime. Some policies feature fixed premiums for the plan’s duration, while others offer premiums that are reviewable and subject to change every five years.

The company elects to increase premiums when the current amount does not adequately maintain the benefits provided under the plan. When policyholders are subject to an increase, they may pay the new rate to maintain their level of coverage or reduce the benefit level to keep their current premium.

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Friends Life also provides a life or earlier critical illness policy. This covers the insured for the first of the following three events: diagnosis of a covered critical illness, diagnosis of terminal illness, or death. After one of these situations occurs, the policy ends, and no additional benefit will be paid.

Receiving a cash benefit while seriously ill can help with expenses required for treatment or making relevant alterations to the home. The money allows family members to focus on providing care rather than dealing with financial issues.

Circumstances Always Change

Over the years, financial needs have changed, and even if you are young and healthy, life insurance can be an essential benefit. Anyone who has a financial dependent should consider life insurance. This includes partners, married couples, people with children, and children caring for elderly parents. The coverage limit will change as a home, children, and other financial commitments enter the picture.

Young adults starting on their own should consider life coverage to provide a lump sum payment for debts or funeral costs upon death. Those who are established in their career may be planning to purchase a home, get married, or start a family. Life insurance provides a lump cash payment to beneficiaries, allowing them to pay rent, mortgage, loans, or household bills. Those with a family can choose the coverage that will repay debts or the mortgage.

Individuals with grown children can provide a cash sum for dependent higher education, final expense payments, or funeral costs of the insured. An individual will enjoy retirement more when he or she knows that a partner or spouse will be financially taken care of should the worst happen. Each spouse or partner can take out an individual life policy to benefit the other, which is the most thoughtful gift a person can give.

Friends Life is the fifth largest life and pensions company in the UK. The company strives to make the claims process as simple and easy as possible, providing customer service throughout the process so beneficiaries never feel alone.

As one of the largest insurance companies in the UK it understands that severe illness and death are difficult issues to handle and it wants to remove some stress from the individual. Claims are processed in a timely fashion, allowing beneficiaries to get the cash they need to get by during this difficult time.