The Exeter is a specialist insurance provider with a particular focus on offering coverage to people who might otherwise struggle to secure standard insurance products due to health conditions.
The Exeter provides several client profiles to help illustrate who their Real Life policy might be suitable for:
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The Exeter is a specialist insurance provider with a particular focus on offering coverage to people who might otherwise struggle to secure standard insurance products due to health conditions.
The company was established in 2008 following the merger of two friendly societies – The Exeter Friendly Society and Pioneer Friendly Society. These societies have roots dating back to the 1880s, when they began providing private medical insurance and income protection cover.
As a friendly society, The Exeter operates differently from traditional insurance companies. With no shareholders to pay, they are able to reinvest profits into improving their services, offering competitive premiums, and maintaining high payout rates.
The Exeter is authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA). Their customers also benefit from protection under the Financial Services Compensation Scheme (FSCS).
When considering providers, it is important to look at independent ratings and customer reviews:
Customer reviews frequently mention the company’s helpful service and the ease of the claims process, though as with any insurer, there are also some negative experiences reported.
We compare plans from the leading life insurance providers
The Exeter’s flagship life insurance product is called “Real Life” – a specialized policy designed specifically for individuals with serious or multiple high risk health conditions who might otherwise struggle to secure affordable coverage.
Real Life is a life cover policy that pays a lump sum benefit when you die, or are diagnosed with a terminal illness where life expectancy is less than 12 months.
The policy is most suitable for customers who would typically pay extra in insurance premiums or find it difficult to obtain insurance due to their health conditions.
The Real Life policy is specifically designed for individuals with conditions such as:
| Criteria | Requirements |
|---|---|
| Age | 18-80 years |
| Residency | UK resident for the last three years |
| Cover Duration | 5-50 years (must end before 90th birthday) |
| Benefit Amount | £20,000 – £3,000,000 (subject to individual consideration) |
The Exeter offers two main types of coverage with their Real Life policy:
Real Life policyholders also receive access to:
The Exeter provides temporary accidental death benefit (at no extra cost) from the date they receive a completed application until the earliest of:
The accidental death benefit payable is the lower of:
The Exeter provides several client profiles to help illustrate who their Real Life policy might be suitable for:
| Client | Conditions | Loading | Cover Amount | Monthly Premium |
|---|---|---|---|---|
| John, 48 | Type 1 diabetes, diabetic disease of the peripheral nerves and diabetic retinopathy, depression, high blood pressure, and high cholesterol | +500% | £150,000 | £176.70 |
| Ryan, 28 | Major congenital heart abnormality corrected surgically and good cardiac function | +400% | £150,000 | £37.58 |
| Maria, 47 | Obesity with a BMI of 50 | +250% | £150,000 | £95.55 |
| Sam, 54 | Heart attack successfully treated with surgery and good cardiac function, type 2 diabetes well controlled, non-smoker | +350% | £150,000 | £247.58 |
Like all insurance policies, The Exeter’s Real Life has some important exclusions to be aware of:
Terminal illness claims can only be made when diagnosed with 12 months or less to live. If a medical consultant and The Exeter’s Chief Medical Officer cannot determine this, or expect death to occur more than one year after diagnosis, they will not pay the claim.
For terminal illness claims, while you can reside anywhere in the world, the consultant must be practicing in an eligible country (list available in the Policy Document).
The cost of life insurance, including The Exeter’s Real Life insurance, varies based on several factors:
The minimum monthly premium is £15. Premiums remain fixed throughout the policy term unless you make changes to your policy, such as increasing your sum assured.
For individuals with pre-existing health conditions, more specific questions about the condition will be asked to better understand personal circumstances. You can also use a life insurance calculator to get an estimate.
The Exeter offers policyholders the option to write their policy in trust. This means placing someone you trust (a trustee) in charge of your policy after you pass away.
Benefits of putting your policy in trust include:
The Exeter makes the trust process straightforward through their digital process when applying.
Claims can be made to The Exeter through several channels:
To process a claim, The Exeter will need:
For Members:
For Financial Advisers:
Opening Hours: Monday to Friday 8am – 6pm
Postal Address:
The Exeter
Lakeside House
Emperor Way
Exeter
EX1 3FD
Website: www.the-exeter.com
Defaqto ratings are an independent assessment of financial products, designed to help consumers understand the quality of different offerings. Ranging from 1 to 5 stars, these ratings indicate how comprehensive a policy is, with 5-star ratings representing the highest quality.
As of March 7, 2025, The Exeter’s Defaqto ratings are:
When we compare these ratings to major competitors, we see a mixed landscape. For Income Protection, The Exeter’s 5-star rating puts them on par with providers like Legal & General and Aviva. However, for Life Assurance, while their 3-star rating is respectable, companies like Aviva and Legal & General offer 5-star rated Level Term and Decreasing Life Assurance plans. Zurich also stands out with 5-star ratings across various Critical Illness and Life Assurance products.
For consumers, these ratings suggest that The Exeter excels in Income Protection, offering a top-tier product. Their Life Assurance products are rated as good, but may not offer the most comprehensive features compared to some 5-star rated competitors. It’s important to consider your specific needs and compare policy features alongside these ratings to make an informed decision.
All products offered by The Exeter are underwritten by The Exeter themselves. The company’s full name is Exeter Friendly Society Limited trading as The Exeter.
No, due to the nature of the product, The Exeter does not offer their Real Life policy on a joint basis. The policy covers one person only. For those seeking joint coverage, exploring options like family life insurance might be beneficial.
The Exeter does not offer specific over 50s life insurance. However, their Real Life policy is available to applicants up to age 80.
Yes, The Exeter offers all life insurance applicants the option to write their policy in trust. This gives the policyholder more control over where the payout goes, helps bypass probate, and can provide tax benefits.
The term of the policy can be any number of years between 5 and 50, although the policy must end before you reach your 90th birthday.
You can cancel your policy at any time. If you cancel within 30 days of when the policy starts, The Exeter will refund any premiums you have paid, as long as you have not made a claim. If you cancel after the 30-day period, there is no cash-in value and any premiums you have paid will not be refunded.
Under current legislation and HMRC practice, benefits payable under this cover are normally free from personal liability to income and capital gains tax for UK residents, unless you assign your policy to someone else. However, the benefit may be subject to inheritance tax unless you put your policy in a suitable trust.
The Exeter recommends seeking professional guidance as individual circumstances can affect your tax position, and tax rules may change in the future.
In addition to life insurance, The Exeter also offers:
The Exeter’s Real Life insurance stands out in the market for its focus on providing coverage to those with serious or multiple health conditions. By specializing in this area, they are able to offer life insurance for disabled individuals and others who might otherwise struggle to secure adequate protection. For those considering different policy types, understanding the difference between level term vs decreasing term life insurance can also be helpful.
With a solid Trustpilot rating, high claims payout percentage from 2023, and additional benefits like the HealthWise app, The Exeter offers a comprehensive solution for those in need of specialized life insurance. For those with mental health concerns, understanding life insurance and mental health is also crucial.
However, as with any financial product, it is important to carefully read all policy documentation and understand any exclusions or limitations before making a decision. For those with pre-existing health conditions looking for life insurance coverage, The Exeter’s Real Life policy is certainly worth considering.
| Type | Plan name | Rating |
|---|---|---|
| Income protection | Income Protection (Holloway) | 3 |
| Income protection | Income First | 5 |
| Life assurance (decreasing) | Real Life | 3 |
| Life assurance (level term) | Real Life | 3 |
