2In its most basic form, term life insurance allows the policyholder to purchase a life insurance plan for a certain “term” or period of time, without the fear of increased premiums and/or decreased benefits. The UK offers a variety of term life insurance options to choose from. How do you know which policy is best? Here are suggestions for how to compare them.
- Know what's available. You can’t choose the best policy for your needs if you don’t know what’s available. Here are a few of the most basic forms of term life offered in the UK: 

1. Decreasing Term Insurance
A decreasing term policy is usually tied to your mortgage or other debt to ensure that your survivors are able to pay off the debt in the event of your death. Although the policy’s beneficiaries will not be given any lump sum amounts of money, the debt tied to the policy will be paid in full. This type of policy is usually much cheaper to purchase since its benefit amount decreases as your mortgage and other dent decreases over time. 

2. Level Term Insurance
The most popular and cost effective form of life insurance available, level term pays the beneficiaries of your policy a set lump sum of monies in the event of your death. 

3. Critical Care Insurance
Often called term life for the living, critical care policies offer a lump sum payment in the event you are diagnosed with life threatening illnesses. 
 
4. Convertible Life Insurance
A Convertible life insurance policy allows the policyholder to convert their coverage to another type of plan once they have outlived their original insurance term. 

5. Increasing Term Life Insurance
Unlike decreasing policies where the policy amount decreases over time, an increasing term life policy actually offers growing benefits. 

6. Renewable Life Insurance
Since most term life policies expire after a set period of time, a renewable policy will you to renew your benefits at the end of the policy term without the fear of a new health assessment, although premiums will likely rise anyway.Check with several insurers. Different insurance companies charge different rates depending on their own set of pricing factors. Once you know the type of insurance policy you want and need, be sure to shop around for the best deal. Some things to ask for regarding policy pricing includes: any discounts available for making payments annually; holding multiple policies with the same agent or company; and having a clean bill of health at the time your policy is effective.Ask a lot of questions. The worst mistake you can make when comparing life insurance policies is not understanding what each offers. Be sure to compare policy terms as well as price to make sure that you are indeed getting what you think you are paying for.
