Archive update: this article originally quoted a £6–£7 monthly life-insurance example from earlier reporting. That was a historical illustration, not a current price, and it should not be used to estimate what you would pay today.
What affects the price of life insurance?
The premium depends on the type and amount of cover, how long you want it, your age, health, lifestyle and the insurer’s underwriting decision. Two people asking for the same benefit may receive different terms or prices. A low advertised example cannot establish the cost of suitable cover for your household.
Consider the cover as well as the premium
If others depend on your income, think about essential expenses, debts, a mortgage, any savings and existing employer benefits. Term life cover, decreasing cover and Family Income Benefit have different payment structures. The outcome of any claim depends on the policy terms and the circumstances of the claim; none is an automatic guarantee that every cost will be met.
Compare the proposed benefit, term, exclusions and any review conditions, not just the monthly amount. Only an individual quotation and the accompanying policy documents can show the price and terms offered to you.
Ask an adviser
Start a protection enquiry if you would like to discuss Life Insurance with an IM-Insured adviser. The enquiry requests a call; it does not return an instant online price or promise that a particular premium is available. You can also contact us with a question.
