Advertisement Feature – In partnership with Polly
Life insurance can be easy to leave for another day, particularly when there are more immediate things competing for your attention.
But working out whether you need it can start with one simple question: does anyone depend on your financial contribution?
That might mean your salary helps pay the mortgage or rent and household bills. You might support children, a partner or someone else financially. And your contribution isn’t necessarily just about what you earn. Childcare and other unpaid caring responsibilities can have a real cost if someone else suddenly has to provide them.
If any of those apply, it’s worth finding out what financial protection you already have and what additional cover could cost.
Polly currently offers life insurance from £5 a month, although what you actually pay will depend on your circumstances and the amount and type of cover you choose.
Does anyone depend on your financial contribution?
You don’t have to be the highest earner in a household for your contribution to matter.
Start with the money you bring in. Which regular costs does it help cover? Think about the mortgage or rent, energy, food, childcare and other household expenses.
Life insurance is designed to pay out if you die during the policy term, subject to the terms and conditions of the policy. That money could then help towards the financial commitments you currently contribute to.
If nobody relies on you financially and there are no commitments you would want covered, your needs may be very different. The point is to look at your own situation rather than assume you either do or don’t need cover.
Don’t forget the value of what you do unpaid
Salary is only part of the calculation.
If you look after children or provide unpaid care, ask what it would cost to replace some of that support.
For example, a couple may both earn, but one person could also take responsibility for school pick-ups or childcare several days a week. If paid childcare would be needed instead, that is another cost worth considering when working out how much financial protection might be useful.
It’s an important distinction because life insurance shouldn’t simply be based on who earns the most. It’s about understanding the financial value of your overall contribution.
How much cover might you actually need?
There’s no single figure that works for everyone, but there are practical ways to arrive at a starting point.
First, look at housing. If you have a mortgage, check the outstanding balance and consider how much of it you would want the policy to cover. If you rent, think about whether you would want to provide money towards rent for a set period.
Next, consider income. A multiple of annual salary can be used as a starting point, but it makes more sense to adjust that figure according to what your household would actually need.
If you have children, think about time too. How many years are there until your youngest child turns 21? Consider the household expenses, childcare and other financial support that may be required during those years.
Then look at what is already available, including savings, existing policies and any life cover provided by your employer.
You don’t need to arrive at the perfect number on your own. Polly combines technology with real advisers who can talk through your circumstances and help you understand the cover available.
What if I’m worried a policy won’t pay out?
This is a reasonable question to ask before spending money on any insurance.
Figures from the Association of British Insurers show that 97.9% of new individual protection claims were paid in 2024. That includes life insurance, critical illness and income protection claims.
It doesn’t mean every claim is paid.
Life insurance policies have terms and exclusions, and claims can be declined. This is why it’s important to answer questions accurately when you apply, disclose relevant information and understand the terms of the policy you choose.
If there’s something you don’t understand, ask. Having an adviser available can be useful here because you don’t have to decipher the terminology yourself.
What about ‘it won’t happen to me’?
Hopefully it won’t.
Life insurance isn’t about assuming the worst will happen or adding something else to your list of things to worry about.
Instead, ask yourself a more practical question: would there be a financial gap if my contribution disappeared?
If the answer is no, that’s useful information.
If the answer is yes, you can decide whether life insurance is an appropriate way to cover some or all of that gap.
There’s no judgement either way. It’s simply about having enough information to make the decision that works for you.
Getting it sorted without adding to your mental load
This is where Polly’s approach fits particularly well.
Polly is designed around women who may already be balancing work, finances, relationships, family or caring responsibilities. The idea isn’t to give you another subject to become an expert in.
Instead, Polly combines technology with knowledgeable advisers who can talk through your circumstances, answer questions and help you understand the options available.
Its customer feedback is strong too. Polly currently displays a 4.8 out of 5 Trustpilot rating from more than 8,900 reviews, with reviewers regularly commenting on helpful, friendly advisers and clear explanations.
Trustpilot rating and review count correct as of October 2026. Ratings and review numbers may change.
Worth knowing
Eligible Polly life insurance policies also currently include access to Square Health services at no additional cost. These include remote GP appointments for you and your family, subject to fair usage, and a limited number of mental health consultations to share with a partner. Check the terms and eligibility when arranging cover.
The MoneyMagpie five-minute check
Before you get a quote, jot down four things:
- your outstanding mortgage or regular housing costs
- the household expenses your income helps cover
- the cost of replacing unpaid childcare or caring responsibilities
- savings and life insurance you already have, including cover through work.
You don’t need to work everything out perfectly. These numbers simply give you a clearer idea of the financial gap, if any, you might want to cover.
The bottom line
Life insurance doesn’t have to become another big piece of financial admin.
Work out who depends on your contribution, what would need paying without it and what protection you already have. Then you can decide whether you want additional cover and how much might be appropriate.
And don’t assume it will be expensive without checking. With Polly currently offering life insurance from £5 a month, getting an actual quote gives you a figure to consider rather than another unanswered question.
If you’d rather not work through it alone, Polly’s advisers can help explain the options and find cover suited to your circumstances.
Regulatory information
Approved by Clark Insurance UK Ltd trading as Polly and Polly.co.uk, which is authorised and regulated by the Financial Conduct Authority (FRN 603273). Clark Insurance UK Ltd is responsible for the contents of this communication.
Prices shown are starting prices and are not guaranteed. The premium you are offered will depend on your circumstances and underwriting. Policy benefits, Square Health services, eligibility, exclusions and fair usage requirements are subject to the applicable terms and conditions.
