Life insurance statistics, facts and trends- 2025
Find the latest life insurance statistics and trends in 2025, including the average cost and prices from.
Key takeaways
Life insurance with MoneySuperMarket can cost as little as £2.67[1] per month.
Today, there are 19[2] life insurance providers available through MoneySuperMarket.
Decreasing term life insurance is generally known for its lower premiums, but our data shows that the median price customers pay is similar to that of a level term policy.
Life insurance costs generally rise with age, but MoneySuperMarket insight shows that older customers can still find affordable policies.
Life insurance pricing statistics
Price by policy type
Cover type | Average price | Price from |
|---|---|---|
Family- Level term | £20.63[3] | £6.94[4] |
Mortgage- Decreasing term | £18.23[5] | £6.54[6] |
Joint life insurance | £26.96[7] | £10.71[8] |
One of the benefits that decreasing term life insurance is known for is its cheaper premiums compared to some other types, like level term life insurance. Interestingly, our data shows that the overall all median price that our customers are paying for a decreasing term life insurance policy is not that different from a level term policy.
Price by policyholder age
Policyholder age | Average price | Price from |
|---|---|---|
Age 18-49 | £18.27[9] | £6.47[10] |
Age 50-54 | £27.31[11] | £10.34[12] |
Age 55-59 | £31.05[13] | £9.47[14] |
Age 60-64 | £31.41[15] | £9.57[16] |
Age 65-69 | £21.31[17] | £12.22[18] |
While it’s common knowledge that life insurance tends to go up in cost as you age, our latest data indicates that being older doesn’t mean you have to pay out the nose for a policy if you decide you want insurance later in life.
Price by policy term
Policy term | Average price | Price from |
|---|---|---|
5-9 years | £12.99[19] | £4.72[20] |
10-14 years | £18.98[21] | £5.96[22] |
15-19 years | £21.92[23] | £7.46[24] |
20-24 years | £24.07[25] | £8.63[26] |
25-29 years | £21.67[27] | £8.17[28] |
30-34 years | £21.41[29] | £8.11[30] |
35-39 years | £19.01[31] | £7.19[32] |
40+ years | £17.84[33] | £7.56[34] |
When considering the length of a life insurance policy, focus on your financial needs and goals, this might include your mortgage, providing for dependents, and ensuring long-term financial security.
Life insurance trends and insights
According to MoneySuperMarket survey data, a staggering 46% of respondents aged 55+ have never gotten a quote for life insurance.
Level term life insurance tends to be the more popular choice among MoneySuperMarket customers, with around 72% of life insurance sales being for level term policies.
When MoneySuperMarket have asked people without life insurance why they didn’t have it, 46% told us that they'd never gotten a quote. Cost perception was one of the most notable barriers, with 22% thinking it'll be too expensive.
Sources and methodology
All consumer polling figures unless otherwise stated are from a poll of 2,000 adults carried out on behalf of MoneySuperMarket by YouGov in September 2024.