Life insurance for women
Key takeaways
Women have the same life insurance options as men so shop around and select a plan that fits your lifestyle and financial goals
There are various types of insurance available, such as whole life insurance, term life insurance, decreasing term life insurance, and critical illness cover
Life insurance premiums are usually lower if you take out a policy early on in life
Make sure you disclose any pre-existing conditions as they affect premiums
Do women need life insurance?
It is just as important for women to consider having life insurance as it is for men, if you have people who depend on you.
The benefits of a life insurance payout in the event of your death include:
Financial support for your partner, which is particularly important if you’re the main breadwinner
Financial security for your children
Money towards childcare
Reduced stress for your loved ones
Helping your family to stay in the same home
However, it’s not a legal requirement to have life insurance. Your mortgage lender may make it a condition of your mortgage agreement though so always check the small print.
Traditionally, more men than women have taken out life insurance but the latest data from MoneySuperMarket suggests that the gap may be narrowing. In the first three months of 2025, 49%
^ of searches for life insurance were made by women compared to 51%^ being made by men.
What is the best life insurance product for women?
Life insurance policies do not differentiate based on gender. That’s because in 2011 the European Court of Justice ruled that differences in insurance pricing based purely on a person's sex were discriminatory.
Women have access to the same range of life insurance options as men. Whether you're a working professional, a stay-at-home mum, or a business owner, the key is to select a premium that best suits your lifestyle and financial goals.
What are the different types of life insurance?
Whole life insurance
Whole of life insurance, also known as life assurance, is a type of policy that remains in effect for your entire life, provided premiums are paid. It means that when you die your family or other chosen loved ones will receive a lump sum payout.
You can choose between:
Balanced cover: Your premiums and payout amount remain the same throughout the policy
Maximum cover: Your premiums are invested with the potential for reduced costs or a larger sum upon death. However, there's a risk of increasing premiums
Whole life is usually more expensive than other types of life insurance.
Term life insurance
Term life insurance is designed for temporary needs. It offers:
Cover for a specified term, such as 10, 20, or 30 years
A lump sum payment to beneficiaries if the insured passes away during the term
Affordability, making it a popular choice for young families or those with specific time-bound financial obligations such as a mortgage
There are four types of term life insurance cover:
Decreasing term life insurance - the amount of cover diminishes over the policy term, usually in line with a loan or mortgage.
Level-term life insurance - an unchanging level of cover from the start to the end of your policy.
Increasing term life insurance - the cover increases over time, normally set to match the rate of inflation.
Family income benefit - rather than a lump sum this pays out in monthly increments up until the end of your policy’s term.
Critical illness cover
Critical illness cover is an add-on or standalone policy that provides a lump sum if you're diagnosed with a specified critical or terminal illness. This can help cover:
Medical expenses
Lost income while you recover
Other unforeseen costs associated with serious health conditions
It's important to carefully review the policy exclusions and limitations to understand the cover fully.
How much life insurance cover do women need?
Determining how much life insurance you need is a personal calculation that should consider:
Final expenses, such as funeral costs
Outstanding debts, like a mortgage or personal loans
Providing for dependents or other family members in your absence
Can women have more than one life insurance policy?
Yes, you can legally have more than one life insurance policy in the UK. It can be beneficial in various scenarios, such as having a personal policy and a joint policy with your spouse.
Find out more about multiple life insurance policies and joint life insurance policies.
When is the best time for women to buy life insurance?
Insurers usually recommend taking out a life insurance policy as soon as possible due to premiums getting higher with age, regardless of gender.
Do women’s health conditions affect life insurance?
Pre-existing medical conditions, whether specific to women or men, can affect premium costs. You should disclose any health conditions during the application process, as this will influence the terms of your policy.
Can I apply for life insurance when I’m pregnant?
Yes, you can take out life insurance while you’re pregnant and applying during pregnancy is no different to applying any other time.
You’ll need to disclose your pregnancy during the application but the insurer can’t charge you higher premiums solely because you are pregnant. However, you’ll need to disclose your medical history and any pre-existing medical conditions, including any that are related to pregnancy.
Do I need to tell my insurer I’m pregnant?
No, if you are already insured then becoming pregnant should not affect your existing life insurance policy and you don’t need to inform your insurer. However, you may decide that you want to increase or change your cover to provide protection for your growing family.
Do women pay less for life insurance?
Our recent data shows that life insurance for women doesn't differ greatly to life insurance for men but in some circumstances it can be cheaper.
How much does life insurance cost for women?
Life insurance can cost as little as £2.69
Policy Type | Policy Holder | Price |
|---|---|---|
Mortgage- Decreasing term | Female | £21.27 |
Mortgage- Decreasing term | Male | £22.20 |
Family- Level term | Female | £23.31 |
Family- Level term | Male | £26.30 |
How much you pay will depend on your personal circumstances, the type of cover you select and how much cover you want.
When selecting a life insurance plan you should focus on your financial needs and goals. This might include your mortgage, providing for dependents, and ensuring long-term financial security. Think about how much of your regular living expenses you would want to be covered by a life insurance claim.
Looking for great deals on life insurance?
MoneySuperMarket compares lots of different life insurance quotes in minutes, including level term insurance and decreasing term policies, to help you find the best cover for your circumstances.
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Emily Sullivan
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Emily is a writer who specialises in the finance industry. She is driven by helping consumers save money and feel more confident with their finances. With a love for charity work and personal...
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Sarah Tooze
Car & Van Insurance Expert
Sarah Tooze has been a motoring journalist for more than 15 years, specialising in company cars and vans, and has won a number of awards during her career, including the Newspress ‘Automotive...
