How much is life insurance per month in the UK?
There is no single “average cost of life insurance”. Each publisher measures something different: some use the median price of policies sold, others the average, others the price most customers were quoted. Here is what the main sources say.
| Source | Monthly figure | What it measures |
|---|---|---|
| MoneySuperMarket Life Insurance Index | £22.02 | Median of all policies, 2025 |
| Legal & General | £26.33 | L&G average, 2025 figures |
| Reassured | £32.64 | Average of 121,561 term policies sold in 2024, average cover about £160,900 |
| Compare the Market | £18.35 | 51% of customers were quoted this or less for a 10-year term, up to £175,000 cover, June 2026 |
Source: MoneySuperMarket (Sept 2026), Legal & General, Reassured (updated July 2026), Compare the Market (reviewed Sept 2026).
The MoneySuperMarket median has crept up each year, from £19.14 in 2022 to £20.46 in 2023, £21.24 in 2024 and £22.02 in 2025. Reassured’s figure is higher, but it is a mean based on 2024 sales, not a median. The cheapest headline prices are much lower: MoneySuperMarket says cover can cost as little as £2.75 a month, and Compare the Market quotes from £4.91 for under-30 non-smokers on a 10-year decreasing policy.
Life insurance cost by age
Age is the biggest single driver of price. MoneySuperMarket’s index shows median monthly prices for £200,000 of cover for non-smokers:
| Age band | Median monthly cost (£200,000 cover) |
|---|---|
| 20–29 | £15.52 |
| 30–39 | £20.06 |
| 40–49 | £31.02 |
| 50–59 | £47.13 |
| 60–69 | £64.09 |
Source: MoneySuperMarket Life Insurance Index, 29 September 2026. Non-smoker unless stated.
Example life insurance rates: smoker vs non-smoker
The myTribe pricing survey, based on more than 5,700 quotes from UK insurers, shows how age and smoking combine. These are monthly prices for £150,000 of cover over 25 years.
| Age | Level term, non-smoker | Level term, smoker | Decreasing term, non-smoker | Decreasing term, smoker |
|---|---|---|---|---|
| 20 | £4.77 | £6.37 | £4.59 | £5.60 |
| 30 | £6.62 | £10.77 | £5.68 | £8.28 |
| 40 | £12.70 | £26.48 | £9.17 | £17.52 |
| 45 | £19.45 | £51.63 | £13.20 | £33.69 |
| 50 | £30.88 | £79.15 | £20.33 | £50.59 |
| 55 | £50.50 | £133.76 | £34.04 | £87.04 |
Source: myTribe Life Insurance Pricing Survey, page dated 7 August 2026. £150,000 over 25 years.
Two things stand out. A level term policy for a non-smoker costs more than six times as much at 50 as at 20 (£30.88 against £4.77). And the smoker premium grows with age: at 30 a smoker pays about £4 a month more for level cover, but at 50 the gap is almost £50.
How much is mortgage life insurance per month?
Mortgage life insurance is usually a decreasing term policy. MoneyHelper notes this suits a repayment mortgage, where the debt shrinks each year. Because the payout falls over time, it tends to cost less than level cover.
- MoneySuperMarket’s median for decreasing term is £22.53 a month, against £23.36 for level term.
- Reassured’s 2024 sales data shows an average of £29.75 for decreasing term and £35.52 for level term.
- Reassured’s example for a non-smoker with £285,000 of decreasing cover over 25 years: £7.38 a month at 30, £14.00 at 40 and £37.04 at 50.
If you’re working out what your mortgage will cost overall, our guide to UK mortgages covers rates and repayment types.
Cost by policy type
| Policy type | Reassured average (2024 sales) | MoneySuperMarket average |
|---|---|---|
| Level term | £35.52 | £25.75 (family level term) |
| Decreasing term | £29.75 | £22.25 (mortgage decreasing term) |
| Joint policy | £44.03 | £31.20 |
| Whole of life | £59.93 | – |
| Over-50s plan | £27.62 | – |
Source: Reassured, updated 28 July 2026; MoneySuperMarket life insurance statistics, 2026.
Level term
Level term pays the same lump sum whenever you die during the term. MoneySuperMarket says around 72% of life insurance sales are level term. If you outlive the term, the policy ends and pays nothing. MoneyHelper notes that an increasing version also exists, where the lump sum rises with inflation.
Whole of life
Whole-of-life cover pays out whenever you die, as long as you keep paying premiums. Because a payout is certain, it costs far more: Reassured’s average is £59.93 a month.
Joint vs single policies
A joint policy covers two people but pays out once, on the first death, and then ends. In July 2025 quotes, Which? found a 32-year-old couple wanting £250,000 over 25 years would pay £16.93 a month for a joint policy, or £18.90 for two single policies. The two single policies could pay out up to £500,000 in total. Which? also notes joint policies usually need cancelling after a divorce.
Adding critical illness cover
Critical illness cover pays out if you are diagnosed with a serious condition listed in the policy. MoneySuperMarket’s index shows a median of £34.95 a month for life cover with critical illness, against £21.12 without it.
Over-50s plans
Over-50s plans guarantee acceptance with no medical questions and pay a fixed sum. MoneyHelper warns you might pay in more over time than your family gets back, and that the fixed payout is not linked to inflation.
What affects the cost of life insurance?
MoneyHelper, Legal & General and Compare the Market list similar factors:
- Age: the older you are when you start, the more you pay.
- Smoking and vaping: Compare the Market says smokers pay about 27% more. LV= counts vapes, e-cigarettes and nicotine replacement products, and says you usually need to have quit for at least 12 months to be rated a non-smoker.
- Health and BMI: your current health, weight and medical history.
- Family medical history.
- Occupation and hobbies: some jobs and activities are higher risk.
- Cover amount and term: more cover and a longer term cost more. MoneySuperMarket’s figures range from £15.27 for 5–9 year terms to £27.14 for 15–19 years.
- Policy type: single or joint, level or decreasing, and add-ons such as critical illness.
- Where you live: MoneySuperMarket’s regional medians run from £21.21 in Yorkshire to £32.94 in London.
Be accurate on your application. LV= warns that false or misleading information could invalidate a claim, meaning your family could lose out.
Guaranteed vs reviewable premiums
A guaranteed premium is meant to stay the same for the whole term. A reviewable premium can change at set review dates. Vitality says guaranteed premiums are often slightly higher, while reviewable ones are usually lower to begin with. The trade-off is certainty now against the risk of higher payments later.
How much life insurance cover do you need?
MoneySuperMarket mentions two common rules of thumb: cover of at least 10 times your annual income, or enough to clear your mortgage and major debts. MoneyHelper suggests basing the figure on:
- your mortgage or rent
- other debts
- the number of people who depend on you
- your take-home pay and any other income
Other costs to think about include childcare, education and a funeral, which MoneySuperMarket puts at £5,140 on average. Terms of 15, 20 or 30 years are common, often running until the mortgage is paid off or children are independent. Life insurance only pays out on death; it doesn’t replace income if you can’t work through illness. For short-term cash needs, see our guide on how big an emergency fund should be.
Writing a life insurance policy in trust
If a policy is not in trust, the payout can form part of your estate. GOV.UK sets the inheritance tax threshold at £325,000, frozen until 5 April 2031, with tax at 40% above that. MoneyHelper explains that a policy written in trust is not counted as part of your estate and can be paid outside probate and inheritance tax.
MoneySuperMarket says setting up a trust is usually free through your insurer, can be done when you buy or later, and needs you to name trustees and beneficiaries. Trusts are intended to be irrevocable, so they are hard to change. Trusts and tax can be complex; a regulated financial or legal adviser can explain the options.
Do life insurers pay out?
ABI figures published in June 2026 show protection insurers paid £7.84 billion in claims in 2025, or £21.5 million a day.
- 96.7% of term life claims and 100% of whole-of-life claims were paid.
- Across all individual protection policies, 97.9% of claims were paid.
- Life insurance payouts totalled £4.03 billion, with an average life payout of £83,892.
How to compare life insurance quotes
- Decide what the money is for. Decreasing cover is designed for a repayment mortgage; level cover keeps the same payout for the whole term.
- Set your cover amount and term using the factors above.
- Compare like for like. Use the same amount, term, premium type and add-ons for every quote.
- Check single vs joint. The cheaper monthly price is not always the better value.
- Answer health and lifestyle questions fully, including smoking and vaping.
- Ask about putting the policy in trust when you buy.
Life insurance is a regulated product. This page explains how prices and policies work; it isn’t personal advice. A regulated adviser can recommend cover based on your circumstances. You can find other guides in our insurance hub.
Frequently Asked Questions
How much is life insurance per month in the UK?
It depends on age, health, cover and term. MoneySuperMarket's index puts the median policy at £22.02 a month in 2025. Reassured's 2024 sales averaged £32.64, and Legal & General reports an average of £26.33 from 2025 figures.
How much is life insurance for a 30-year-old?
The myTribe pricing survey shows £150,000 of level term cover over 25 years at £6.62 a month for a 30-year-old non-smoker and £10.77 for a smoker (August 2026).
How much is mortgage life insurance per month?
Mortgage life insurance is usually decreasing term cover. MoneySuperMarket's median is £22.53 a month. Reassured's example for £285,000 over 25 years is £7.38 at 30, £14.00 at 40 and £37.04 at 50 for a non-smoker.
Do smokers and vapers pay more for life insurance?
Yes. Compare the Market says smokers pay about 27% more. LV= treats vaping and nicotine replacement as smoking and usually needs you to have quit for at least 12 months.
What happens if I outlive my term life insurance?
The policy ends and pays nothing. Whole-of-life cover pays out whenever you die, as long as you keep paying, which is why it costs more.
Do life insurance companies actually pay out?
ABI figures show 96.7% of term life claims and 97.9% of all individual protection claims were paid in 2025.
Should I write my life insurance in trust?
A trust can keep the payout outside your estate and probate, according to MoneyHelper. It is usually free to set up through the insurer, but it is hard to change. A regulated adviser can explain the options.
Sources
- MoneySuperMarket – Life Insurance Index (29 Sep 2026)
- MoneySuperMarket – Life insurance statistics (2026)
- Reassured – Average life insurance cost UK (28 Jul 2026)
- Compare the Market – Life insurance quotes (reviewed 25 Sep 2026)
- Legal & General – Average cost of life insurance
- myTribe – Average cost of life insurance in the UK (7 Aug 2026)
- ABI – Protection insurers pay out £7.84 billion in 2025 (29 Jun 2026)
- Which? – Joint vs single life insurance
- MoneyHelper – What is life insurance?
- MoneyHelper – Over 50s life insurance: is it worth it?
- MoneySuperMarket – How much life insurance do I need?
- MoneySuperMarket – Life insurance trusts
- LV= – Life insurance and smoking
- Vitality – Life insurance premiums explained (2 Oct 2026)
- GOV.UK – Inheritance Tax thresholds and interest rates (6 Apr 2026)