How Much Is Life Insurance? Average costs and what you can expect to pay

Life insurance costs less than you might think. Most UK adults can get cover from just £5 per month. Your actual price depends on your age, health and how much cover you need.

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Life Insurance Costs Explained

What determines how much you pay.

Age Is the Biggest Factor

A 30-year-old non-smoker can get £200,000 of cover for around £10 per month. The same cover for a 50-year-old costs £40-55 per month. Getting cover earlier saves money.

Policy Type Matters

Decreasing term is cheapest (from £5/month), level term costs moderately more, and whole of life is the most expensive. Choose based on what you need to protect.

Comparing Saves Money

Premiums for identical cover can vary by 50% or more between insurers. A broker compares quotes from multiple insurers to find you the best deal.

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Average Monthly Premiums

What you can expect to pay for £200,000 level term cover.

Age	20-Year Term	25-Year Term
25	£6-9/month	£7-10/month
30	£8-12/month	£9-14/month
35	£10-16/month	£12-20/month
40	£16-24/month	£20-32/month
45	£25-38/month	£32-50/month
50	£40-60/month	£55-85/month

Indicative prices for non-smokers in good health. Your premium depends on individual circumstances. Get a personalised quote for an accurate price.

FAQs About Life Insurance Costs

Answers to the most common pricing questions.

A common rule of thumb is 10 times your annual salary plus any outstanding debts like your mortgage. A broker can help you calculate the right amount based on your circumstances.

With level term and decreasing term policies, your premium is fixed for the entire term. With reviewable whole of life policies, premiums can increase at review points.

Yes. Non-smokers in good health with a healthy BMI pay the lowest premiums. Pre-existing conditions do not necessarily mean you cannot get cover, but premiums may be higher.

Compare quotes from multiple insurers, choose decreasing term if suitable, buy when you are younger and healthier, and only insure for the amount you actually need.