How much does UK life insurance / assurance cost?

When you take out a UK life insurance policy you will pay a regular monthly premium. How much this is depends on several factors:

• How much cover you want
  
• How long you want it for
  
• Gender
  
• Occupation
  
• Health (including your medical history)
  
• Whether you smoke or not

  Premiums can be either guaranteed or reviewable.
  
  Guaranteed premiums stay the same all the time you are paying them.
  
  B ut with reviewable premiums you agree that the company can review your policy (and increase your premiums) at set intervals.
  
  Initially reviewable premiums work out cheaper but they are likely to be increased over time meaning the overall cost will end up being more than it would be with guaranteed premiums.
  
  At the time of writing a typical premium for a non-smoking 30-year-old man for 25 years would be about £10/month.
  
  A 40-year-old would pay about £25/month so it is a good idea to take out a policy when you are younger – if the premiums are guaranteed they won’t increase as you get older.
  
  
  Additional benefits
  
  Some life insurance policies include additional benefits for an extra cost.
  
  You can add on things like critical illness insurance cover or waiver of premiums.
  
  Critical illness pays out a lump sum if you are diagnosed with any of a number of health conditions. Waiver of premiums means your premiums are paid for you if you are unable to work for health reasons.

Read On

What is life insurance?

Who needs Life Insurance?

Who provides life insurance?

Types of life insurance

How much does life insurance cost?

Tips / Do's and don'ts for getting life insurance

Summary of Level Term Insurance Policies



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