How Much Does Life Insurance Cost?
Life cover is often cheaper than people expect. What you pay depends mainly on your age, your health and how much cover you choose, subject to eligibility and policy terms.
Get my quoteWhat Drives The Cost
The price of life insurance comes down to risk. Insurers look at how likely they are to pay out during your policy, then set a monthly premium to match. The biggest factors are your age, your health and whether you smoke, followed by how much cover you want and for how long.
Because of this, two people can pay very different prices, and the same cover can cost different amounts at different insurers. The tables on this page show how each factor moves the price, using illustrative figures from published UK pricing.
Estimate Your Monthly Cost
Move the sliders and choose your options to see an illustrative monthly price. It is an estimate to give you a feel for the cost, not a quote. For a personalised price, get a quote.
This is an illustrative estimate for a healthy applicant, not a quote. Your actual price depends on your health, lifestyle and the insurer, and is confirmed only when you apply. Surely helps you compare insurance and does not provide regulated financial advice.
The Average Cost
The average UK life insurance policy works out at around £22 a month, but that single number hides a wide range.2 A young non smoker might pay a few pounds a month, while an older smoker with a large policy could pay ten times more. Here are some typical examples to set the scene.
| Example | Monthly cost |
|---|---|
| 30, non smoker, £200,000, 20 year level term | £11 |
| 40, non smoker, £200,000, 20 year level term | £23 |
| 40, smoker, £200,000, 20 year level term | £44 |
| 50, non smoker, £200,000, 20 year level term | £55 |
Surely analysis of published UK pricing. Illustrative, not quotes.2
Cost By Age
Age is the single biggest factor. The older you are when you start, the more likely the insurer is to pay out during the term, so the premium is higher. As a rough rule, the price roughly doubles for each decade of age.
Your price is fixed at the age you start, so buying earlier locks in a lower rate for the whole term. Here is how the monthly cost changes with age and cover amount.
| Age | £100,000 | £200,000 | £300,000 |
|---|---|---|---|
| 30 | £7 | £11 | £15 |
| 40 | £13 | £23 | £33 |
| 50 | £30 | £55 | £80 |
| 60 | £70 | £130 | £190 |
Non smoker, level term over 20 years. Surely analysis of published pricing, illustrative.2
Smoker Or Non Smoker
Smoking has a large effect. Smokers usually pay around double what a non smoker pays for the same cover, because of the higher health risk. Most insurers count you as a non smoker once you have not used any nicotine or tobacco product, including vapes, for 12 months.
| Age | Non smoker | Smoker |
|---|---|---|
| 30 | £11 | £22 |
| 40 | £23 | £44 |
| 50 | £55 | £105 |
| 60 | £130 | £240 |
£200,000 level term over 20 years. Surely analysis of published pricing, illustrative.2
"The two things that move the price most are age and smoking, and you control the timing of one and the fact of the other. If you are thinking about cover, the cheapest day to buy is usually today, because you will never be younger. And if you have given up smoking, make sure you tell the insurer once you pass the 12 month mark."
Cover Amount And Term
Two more levers are how much cover you take and for how long. More cover costs more, roughly in line with the amount. A longer term also costs more, because there are more years in which a claim could happen.
| Cover | 15 years | 20 years | 25 years | 30 years |
|---|---|---|---|---|
| £100,000 | £10 | £13 | £16 | £20 |
| £200,000 | £18 | £23 | £29 | £36 |
| £300,000 | £26 | £33 | £42 | £52 |
Age 40, non smoker, level term. Surely analysis of published pricing, illustrative.2
Policy Type
The type of cover changes the price too. Decreasing term, where the payout falls over time to track a mortgage, is the cheapest. Level term, where the payout stays the same, costs more. Adding critical illness cover, which also pays out if you are diagnosed with a serious illness, raises it further.
| Policy type | Monthly cost |
|---|---|
| Decreasing term | £16 |
| Level term | £23 |
| Level term with critical illness | £55 |
Age 40, non smoker, £200,000 over 20 years. Surely analysis of published pricing, illustrative.2
Cost By Product Type
Different products carry different price tags, because they cover different things. Here is a quick guide to what each tends to cost.
| Product | What it suits | Typical monthly |
|---|---|---|
| Decreasing term | Covering a repayment mortgage | From about £16 |
| Level term | A fixed lump sum for your family | From about £23 |
| Level term with critical illness | Cover for serious illness too | From about £55 |
| Whole of life | A guaranteed payout or an inheritance tax bill | From about £45 |
| Over 50s plan | A small funeral fund, guaranteed acceptance | From about £5 |
Illustrative typical examples. Term figures use £200,000 of cover; whole of life and over 50s plans are usually for smaller sums. Surely analysis of published pricing.2
Whole Of Life Cost
Whole of life cover never ends and always pays out, so it costs more than term cover and is usually bought for a smaller sum, often to leave an inheritance or to help with an inheritance tax bill. Because it is certain to pay, the price climbs steeply with age.
| Age | Monthly cost |
|---|---|
| 30 | £28 |
| 40 | £45 |
| 50 | £72 |
| 60 | £115 |
| 70 | £185 |
£50,000 of whole of life cover, non smoker. Surely analysis of published pricing, illustrative.2
Joint Or Two Single Policies
A couple can take one joint policy, which pays out once, or two single policies, which each pay out on their own. A joint policy is usually cheaper, but two singles leave the surviving partner with lasting cover. Here is how the monthly cost compares.
| Age | Joint policy | Two single policies | You save |
|---|---|---|---|
| 30 | £17 | £22 | 23% |
| 40 | £36 | £46 | 22% |
| 50 | £85 | £110 | 23% |
£200,000 of cover, 20 year level term, non smokers. Surely analysis of published pricing, illustrative.2
The Price Between Insurers
This is the factor people miss. For the very same person and the very same cover, different insurers charge different prices. The gap is often around 20% to 40%, simply because each insurer weighs risk differently.
It means the cheapest insurer for one person is not always the cheapest for another, and the only way to find your best price is to compare. Buying the first quote you see, or the lender's own cover, can cost you a third more for nothing extra.
Does Your Job Change The Price
For most jobs, your occupation makes little difference to life insurance. A few higher risk jobs can cost more or come with special terms, such as working at height, offshore, in the armed forces or with heavy machinery. Your job has a much bigger effect on income protection, which pays out if you cannot work, than on life cover.
| Job | Effect on life cover |
|---|---|
| Office worker | Base price, around £23 |
| Teacher or nurse | About the same |
| Electrician or plumber | Slightly higher |
| Construction worker at height | Higher |
| Offshore or armed forces | Higher, or special terms |
Age 40, non smoker, £200,000 over 20 years. Surely analysis of published pricing, illustrative.2
Does Gender Change The Price
No. In the UK, insurers are not allowed to use your gender to price life insurance. Men and women pay the same for the same cover and profile. This has been the law since 21 December 2012, after a European court ruling known as Test-Achats, which the UK put into the Equality Act 2010.3 So while you will see prices vary by age, health and smoking, you will not see a man and a woman of the same profile quoted different prices.
What Changes Your Price
Pulling it together, here is how much each factor tends to move the price.
| Factor | How much it affects the price |
|---|---|
| Age | Large |
| Smoker status | Large |
| Health and medical history | Large |
| Cover amount | Large |
| Term length | Medium |
| Policy type | Medium |
| Which insurer you choose | Medium, around 20% to 40% |
| Your job | Small for most, larger for risky jobs |
| Gender | None, not used in the UK |
Beyond these, insurers also look at your weight, family medical history, alcohol use and any dangerous hobbies, such as motor racing or diving, which can raise the price or add terms.
How To Pay Less
- Buy while you are young and healthy. Your price is set at the age you start and fixed for the term, so earlier is cheaper.
- Be a non smoker. If you have stopped for 12 months, tell the insurer, as it can roughly halve the price.
- Match the cover and term to your need. Paying for more cover or a longer term than you need just costs more.
- Compare insurers. The same cover can be 20% to 40% cheaper elsewhere, so always compare before you buy.
- Answer honestly. The cheapest quote is worthless if a wrong answer means the claim is declined. Most declined claims come from inaccurate information.1
Why Use Surely
The hardest part of buying life insurance is knowing whether your price is fair. Surely makes that clear.
We explain what drives your price in plain English, and compare cover from selected UK insurers so you can see the difference for the same protection. We compile and cross check real UK pricing and claims data, so the figures you see are grounded, not guesswork.
The reassurance is in the numbers. In 2024, UK insurers paid a record £8 billion in protection claims, and around 97% of life insurance claims were paid.1 Surely helps you compare and get quotes online, and does not give advice itself.
Frequently Asked Questions
How much is life insurance a month?
An average UK policy is around £22 a month, but it ranges widely. A healthy 30 year old might pay about £11 a month for £200,000 of cover, while an older person or a smoker would pay more. Your price depends mainly on your age, health, smoking and how much cover you choose.
Why is my quote more expensive than the average?
Usually because of age, smoking, a health condition, a larger amount of cover or a longer term. Choosing a pricier insurer can also add 20% to 40%, which is why comparing helps.
Does smoking really change the price?
Yes, a lot. Smokers often pay around double for the same cover. Most insurers treat you as a non smoker once you have gone 12 months with no nicotine, including vapes.
Do men and women pay different prices?
No. UK insurers have not been allowed to use gender to price life insurance since December 2012. The same profile is quoted the same price.
Does my job affect the price?
For most jobs, very little. Some higher risk jobs, such as working at height or offshore, can cost more or carry special terms. Your job affects income protection far more than life cover.
Will my premium go up over time?
With level or decreasing term, the premium is normally fixed when you start and stays the same for the whole term, so it does not rise as you age.
This guide deals with death and serious illness. For impartial money guidance you can use MoneyHelper, the government backed service.
Getting Started
Work out how much cover you need and for how long, then compare a few insurers for that exact cover. Answer the health and lifestyle questions honestly, and buy while you are young and healthy if you can. If you have stopped smoking, make sure the insurer knows.
All prices on this page are illustrative and compiled from published UK pricing. They are not quotes. Your own price depends on your age, health, smoker status, cover and the insurer, and is confirmed only when you apply. Surely helps you compare insurance and does not provide regulated financial advice.
How We Researched This Guide
We write our guides from named, public UK sources and cross check the figures rather than rely on a single site. Where we say "Surely analysis", it means we have compiled and compared published pricing, not produced live quotes.
The data on this page draws on:
- Published UK life insurance pricing, 2025 to 2026, for the cost tables by age, smoker status, cover, term, policy type and job, and the spread between insurers.
- Association of British Insurers and Group Risk Development, protection claims data 2024, for claims paid.
- The Test-Achats ruling and the change to the Equality Act 2010, for gender neutral pricing.
- MoneyHelper, impartial guidance on life insurance.
All cost figures are illustrative examples for a healthy applicant with the age, cover and term stated. They are not quotes, and individual prices vary. We show variation between insurers as an anonymised spread rather than naming insurers, because real prices depend on each person's full profile.
Surely compares cover from a selected panel of UK insurers and protection advisers, not the whole of the market. When you ask for a quote you may receive one online or be contacted by a qualified protection adviser from our panel. Surely may receive a commission, which does not affect the price you pay.
Written and reviewed by Paul Gillooly, Founder of Surely. Last reviewed June 2026.
Sources
- Association of British Insurers and Group Risk Development, "Record £8bn paid out in vital protection claims during 2024", published July 2025. Around 97% of life claims paid; most declined claims relate to inaccurate information.
- Surely analysis of published UK life insurance pricing, 2025 to 2026. Average policy around £22 a month; premiums roughly double each decade of age; the same cover varies around 20% to 40% between insurers. All figures are illustrative and not quotes.
- European Court of Justice, Test-Achats ruling (Case C-236/09), in force from 21 December 2012, implemented in the UK through the Equality Act 2010: insurers may not use gender to price insurance.
- MoneyHelper, impartial guidance on life insurance.
