Best Life Insurance in Europe 2026

1. Assess your coverage need

Calculate how much your family would need if you died. Consider: outstanding mortgage balance, years of income replacement needed (until your youngest child is financially independent), outstanding debts, funeral costs, and partner's own earning capacity. A common rule of thumb is 10x your annual income, but this varies significantly based on your personal situation. For mortgage-linked insurance, the coverage should match the outstanding loan amount.

2. Choose the right type

For most families, term life insurance (overlijdensrisicoverzekering) is the best value. Choose decreasing term (dalende dekking) if the primary purpose is mortgage protection, since the mortgage balance decreases each year. Choose level term if you want consistent protection throughout the policy period (for income replacement). Whole life insurance is rarely cost-effective unless you have specific estate planning needs.

3. Compare quotes

Premiums for the same coverage can vary by 50% or more between insurers because each insurer uses different risk models and actuarial tables. Use comparison platforms to get quotes from multiple insurers. Key factors to compare: monthly premium, coverage amount, policy term, exclusions (suicide, dangerous activities, pre-existing conditions), and the insurer's claims payment track record.

4. Complete the health questionnaire

All life insurance applications require a health declaration. You must honestly disclose your medical history, current medications, smoking status, BMI, and family medical history. For larger coverage amounts (typically above 300,000-500,000 EUR), the insurer may require a medical examination. Misrepresenting your health can void the policy entirely, leaving your family unprotected.

5. Name your beneficiaries and review regularly

Designate who receives the payout in your policy. This can be a specific person, multiple people with percentage splits, or your estate. Review your beneficiary designation after major life events: marriage, divorce, birth of a child, or death of a named beneficiary. Also review your coverage amount every few years, especially after significant changes in income or financial obligations.