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Life Insurance
See real monthly premiums by age, health and policy type, then compare quotes from leading UK providers in minutes.
Life insurance cost in the UK typically runs from around £15 to £40 a month for a standard term policy, with basic entry-level cover starting from as little as £5 a month for younger, healthy applicants. Where you land within that range depends heavily on your age, health, how much cover you choose, and which provider assesses your risk.
The reason average figures vary so much between sources is that everyone measures something different. Legal & General publishes its own book average at £26.33 a month, based on the policies it actually writes. Comparison sites report a median across many providers and postcodes, which is why MoneySuperMarket found London policyholders paying an average of £29.43 a month against £18.84 a month in the North East, a gap driven by the age and health profile of who is buying in each region rather than location itself changing your risk. None of these numbers is wrong, they are measuring different slices of the market, which is why a single average figure without its source attached is close to meaningless.
This page was last reviewed in July 2026. Every figure quoted here is an indicative example based on published provider and comparison-site data. Your own quote will depend on your personal underwriting, and Money Saving Advisors compares the market rather than providing personalised financial advice.
Age is the single biggest factor in how much life insurance costs, because your risk of making a claim rises every year you get older. As a rough rule of thumb, expect your premium to roughly double for every decade you wait before buying cover, which is why financial advisers consistently say the cheapest life insurance you will ever be offered is the policy you take out today rather than in five years' time.
The table below shows example monthly premiums for a non-smoker taking out £250,000 of level term life insurance, illustrating how steeply cost climbs with age. Someone in their mid-20s might pay around £6 a month for that level of cover, while the same policy taken out in your mid-60s could cost more than ten times as much, reflecting the much higher statistical likelihood of a claim being paid within the policy term.
These figures are indicative examples only. Actual premiums depend on your health, smoker status, occupation, and the specific term and provider you choose, and can vary meaningfully even between two people of exactly the same age.
Policy type is the second biggest driver of cost after age, because different products carry very different levels of underwriting risk and guaranteed payout. Choosing the right structure for your situation, rather than the cheapest headline price, usually saves more money over the life of the policy than shopping around between providers.
Level term life insurance is the cheapest widely available option because cover and premium stay fixed for a set number of years, typically 10 to 40, with a payout only if you die within that term. A healthy 30-year-old can often secure £250,000 of level cover for under £10 a month.
Whole of life insurance guarantees a payout whenever you die, so premiums are noticeably higher than term cover for the same sum assured, often two to three times more for someone in their 40s, because the insurer knows it will eventually pay a claim rather than betting against one.
Over 50s policies accept everyone in the target age range without medical questions, which pushes the cost per £1,000 of cover up considerably. Premiums are usually fixed but cover is typically capped at £10,000 to £25,000, aimed at funeral costs rather than replacing income or clearing a mortgage.
Decreasing term life insurance is usually the cheapest way to protect a repayment mortgage, because the sum assured falls roughly in line with your outstanding mortgage balance, reducing the insurer's risk each year and lowering the premium compared with level cover for the same starting amount.
A joint life insurance policy covering two people is typically cheaper than buying two separate single policies, but it only ever pays out once, on the first death, after which cover ends completely and the surviving partner is left without protection.
Beyond age and policy type, insurers weigh up a wide range of personal and lifestyle factors before setting your premium. Two people who look identical on paper for age, cover amount, and term can still be quoted very different prices once individual health and lifestyle details are added, which is exactly the underwriting variation Which? flags but rarely explains.
This underwriting variation is also why two insurers can quote wildly different prices for the same person and cover. Which? has found gaps as wide as £7.34 a month with one insurer against £12.71 a month with another for £300,000 of cover, purely down to how each insurer's underwriting model weighs the same risk factors.
Arranging life insurance for your mortgage is one of the most common reasons people search for life insurance cost figures in the first place, usually while also getting conveyancing quotes when you're buying your home. The good news is that mortgage protection is often the cheapest type of cover you will ever buy, because decreasing term policies are specifically designed to track a repayment mortgage balance.
For example, a 32-year-old non-smoker taking out a 25-year repayment mortgage of £250,000 might pay around £8 to £12 a month for decreasing term cover matched to that mortgage term, compared with roughly £11 to £16 a month for level term cover providing the same £250,000 at the outset. The gap widens over time, because the decreasing policy's sum assured falls as the mortgage balance falls, while a level policy keeps paying out the full original amount even in year 24 when the mortgage is nearly cleared.
A common mistake is assuming your existing life insurance automatically covers a new, larger mortgage after you move house. If you increase your borrowing, your existing sum assured may no longer be enough to clear the new balance, leaving your family exposed to a shortfall exactly when they can least afford one.
There are several practical ways to bring your premium down without simply accepting worse cover.
Life insurance is worth the cost for most people with financial dependants, because the premium is small relative to the financial gap a death would leave behind. A £15 to £40 monthly premium is a modest trade-off against a £250,000 payout that could clear a mortgage, replace years of income, or fund childcare, which is why the real question isn't can you afford life insurance but whether you need life insurance at all given your specific circumstances.
If you're weighing up protection options more broadly, it's also worth understanding how life insurance compares with critical illness cover, since the two products protect against different risks, death versus a serious diagnosis, and many households benefit from a combination of both rather than choosing one over the other.
Level term life insurance is usually the cheapest option, because cover and premium are fixed for a set period with a payout only if you die within that term. A healthy 30-year-old can often get £250,000 of cover for under £10 a month. Decreasing term cover, designed to track a repayment mortgage balance, is typically cheaper still. Whole of life and over 50s policies cost more for equivalent cover because they guarantee a payout, and guaranteed acceptance products carry higher underwriting risk for the insurer.
No, most standard term policies fix your premium for the entire term when you take it out, so a rate agreed at age 35 for a 25-year term stays the same until age 60 regardless of how your health changes. The exceptions are certain reviewable whole of life policies, where the insurer can increase premiums at set review points, and index-linked policies, where both cover and premium rise annually in line with inflation if you choose that option.
A common starting point is 10 times your annual income, plus outstanding debts like your mortgage, minus any existing savings or workplace death-in-service benefit. For example, someone earning £35,000 with a £200,000 mortgage and £10,000 in savings might need roughly £540,000 of cover. Your actual figure depends on dependants, school-age children, and how many years of income replacement you want to provide, so treat multiples as a starting point rather than a fixed rule.
Being self-employed doesn't automatically make life insurance more expensive, insurers price on health, age and lifestyle rather than employment status alone. However, self-employed applicants sometimes face more detailed income and occupation questions, and certain higher-risk trades can attract a loading regardless of employment type. Because you won't have a workplace death-in-service benefit topping up your cover, many self-employed people need a higher sum assured than an equivalent employee, which affects the total premium rather than the underlying rate.
Often yes, but by how much varies enormously between insurers, which is exactly why comparing the whole market matters more for pre-existing conditions than for any other factor. Conditions like controlled type 2 diabetes or historic mental health treatment might attract a modest loading from one insurer and a decline from another, purely down to differing underwriting appetite. Some conditions have no impact at all once fully disclosed and assessed, so it's worth getting a specialist opinion before assuming cover will be unaffordable.
Yes, significantly. Smokers typically pay 50% to 100% more than non-smokers for identical cover, because smoking roughly doubles long-term mortality risk in insurers' actuarial data. You're classed as a smoker if you've used any nicotine product, including vaping or nicotine replacement therapy, within the past 12 months. Quitting and staying smoke-free for a full 12 months before applying can move you onto non-smoker rates, which for a £250,000 policy could save well over £100 a year.
Some providers offer a small discount, often around 5%, for paying your annual premium in one lump sum rather than spreading it monthly, since it reduces their administration and default risk. For most people the saving is modest compared with the cash flow benefit of paying monthly, and there's rarely a difference at all with major UK insurers on standard term policies. Always ask for both prices when you get a quote so you can compare the actual pound difference.
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Term life insurance pays a lump sum if you die within a set period. Compare level, decreasing and increasing cover, see UK cost examples, and get quotes.
Whole of life insurance pays out whenever you die, guaranteed. Compare quotes, costs by age and how inheritance tax and trusts work.
See how guaranteed acceptance over 50s life insurance works, what it costs by age, and whether it beats term or whole of life cover.
See how joint life insurance compares with two single policies on cost, cover and flexibility, and find out which suits your family best.