Key points
- Published averages are drawn from different customer and policy populations.
- They cannot predict an insurer’s assessment of your application.
- Compare the benefit, term and policy conditions alongside the monthly premium.
Published UK life insurance costs
The usable headline figures below reproduce each publisher’s wording. They should not be combined into an “average of averages” because their populations and methods are not equivalent.
| Source | Monthly premium | Published measure | Population |
|---|---|---|---|
| Legal & General | £26.33 | “Average”; method not stated | L&G’s 2025 figures |
| Confused.com | £27.00 | “Average”; method not stated | Policies in its 2025 analysis |
| Reassured | £32.64 | “Average”; method not stated | 121,561 term policies sold in 2024 |
A higher or lower figure may reflect different cover, customers, underwriting outcomes or product types.
Monthly figures expressed over 12 months
These calculations simply multiply the published monthly amounts by 12. They are not annual-payment quotations or projections of total policy cost.
Why do published average costs differ?
A headline changes when the population, product mix or calculation changes, even if underlying insurer prices stay the same.
The lowest published number does not prove that one insurer or route is cheapest.
Mean, median and “average” explained
Mean
Add every premium and divide by the number of policies. For £10, £15, £20 and £55, the mean is £25. Expensive policies can pull it upwards.
Median
Arrange the premiums from lowest to highest and find the middle. In the same example, the median is £17.50. It is less affected by unusually high or low values.
Neither measure predicts a new applicant’s premium. Where a publisher says “average” without defining the calculation, this guide retains that wording.
Published median premiums by age band
This MoneySuperMarket series holds the stated cover amount at £200,000. It does not establish that term, health, occupation, nicotine status or policy type were held constant.
| Age when buying | Median monthly premium | Cover | Data period |
|---|---|---|---|
| 20–29 | £15.52 | £200,000 | May–July 2026 |
| 30–39 | £20.06 | £200,000 | May–July 2026 |
| 40–49 | £31.02 | £200,000 | May–July 2026 |
| 50–59 | £47.13 | £200,000 | May–July 2026 |
| 60–69 | £64.09 | £200,000 | May–July 2026 |
These are observed medians, not controlled examples. Each band spans ten years and may contain a different mix of applicants and policies.
Why premiums often rise with age
For otherwise comparable term cover, applying later generally means the insurer covers a higher probability of death during the term. Starting younger may reduce the monthly amount but can mean paying for longer.
Average costs by policy type
MoneySuperMarket reports 2026 medians of £23.35 for level term and £22.54 for decreasing term. The difference does not prove the products were compared for identical applicants, benefits and terms.
| Policy category | Published monthly average | Published context |
|---|---|---|
| Level term | £35.52 | Reassured 2024 sales |
| Decreasing term | £29.75 | 14,455 policies; average cover £188,598.58 |
| Whole of life | £59.93 | 1,020 policies; average cover £22,307.63 |
| Over-50s plan | £27.62 | Reassured 2024 sales |
These categories cover different customers and benefits. Read the types of life insurance guide before comparing their costs.
Average costs for smokers and non-smokers
Reassured reports 2024 monthly averages of £35.65 for smokers and £34.76 for non-smokers across level and decreasing term policies.
The 89p difference does not show that nicotine use has little effect on an individual quotation. These are not matched groups and may differ by age, health, benefit, term and occupation. Insurer definitions and nicotine-free periods also vary.
Average cost of joint life insurance
Reassured reports a 2024 monthly average of £44.03 across 3,530 joint level and decreasing term policies, with average cover of £215,902.61.
This cannot prove whether joint or separate cover is cheaper for a particular household. A typical joint first-death policy pays once and then ends, while two separate policies can potentially provide two payouts if both remain in force and their claim conditions are met. Read about joint life insurance.
Why might your premium differ from the average?
- Age and health: medical history and the probability of a claim during the term may affect underwriting.
- Nicotine use: definitions and look-back periods vary between insurers.
- Occupation and activities: hazardous duties or hobbies may require further assessment.
- Cover and term: the potential payout and duration change the protection being priced.
- Policy structure: level, decreasing, increasing, lifelong, single and joint cover work differently.
- Additional protection: critical illness cover and other benefits can change price and scope.
Our life insurance cost guide explains these factors in more detail.
Is an average premium useful for budgeting?
An average can provide broad context, but it is a weak household budget unless the customers and cover behind it resemble your requirements. Paying less is not automatically good value, and paying more does not necessarily mean poor value.
Check the benefit, term, exclusions and whether premiums are guaranteed, reviewable, age-based or designed to increase. If replacing cover, do not cancel an existing policy until the replacement is confirmed in force and you have checked its terms.
Questions about average life insurance costs
Why do websites publish different averages?
They may use different periods, products, customer groups and distribution routes. Some figures describe quotes while others describe completed sales.
Does the average include critical illness cover?
It depends on the dataset. Do not assume a figure represents life-only cover unless the source confirms it.
Can an average predict my quote?
No. It cannot apply an insurer’s current underwriting rules to your circumstances and chosen policy.
Is the cheapest premium the best option?
Not necessarily. Compare the benefit, term, premium structure, definitions, exclusions and features. See how to compare life insurance.
Is a monthly average the total policy cost?
No. Total cost depends on how much is paid, how long payments continue and whether the premium can change.
