Best life insurance in the UK 2026

Do I need life insurance?

Life insurance can help give you peace of mind that your loved ones won't be left struggling financially if you die.

There are many reasons why you might want to consider a policy, including taking out a mortgage, moving in with a partner, having a child or managing an inheritance tax bill.

There are two main types:

• Term insurance, also known as standard life insurance: this pays out only if you die within the specified term of the policy.
• Whole-of-life insurance: this pays out a lump sum to your loved ones when you die, no matter when that is.

Term life insurance can be cheaper and more flexible than a whole-of-life policy, as you only pay for cover over a set period of time. If you die within that term, your family will receive a payout. Find out more about the different types of life insurance.

Please note that this article is for information purposes only and does not constitute advice. Please refer to the particular terms and conditions of an insurer before committing to any financial products.

How much does life insurance cost in the UK?

The price you pay for life insurance varies significantly depending on your personal circumstances and the level of cover you need. 

The table shows the monthly cost from nine providers for different levels of cover for a 30-year-old non-smoker. Costs are for level term cover lasting 20 years. 

Results are ordered from cheapest to most expensive for a policy that pays out £300,000. This is the level of cover available from all providers we sourced quotes from and is closest to the average level term cover of £201,000 taken out in 2024, according to the latest data from reinsurance company Swiss Re. 

We’ve also included the latest life insurance claims acceptance rates in 2024. These are self-reported by each provider.

To compile our list, we chose providers based on market share. Life insurance costs will vary depending on your personal circumstances, so if you're looking to take a policy, it's best to shop around.

It's important to note that the prices in the table are illustrative examples – the quote you’re offered may differ, based on your circumstances and the cover you’re looking for. 

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What do insurers offer?

Aviva

Formerly known as Norwich Union, the company we now know as Aviva traces its heritage back to 1696.

It sells level, decreasing and increasing term policies with the option to add critical illness cover. It also sells over-50s life insurance, income protection and private health insurance.

• Maximum age to purchase a policy: 77 
• Maximum plan age: 90

Thinking of taking out a health policy? Read our article on private medical insurance perks: what's on offer and are they worth it?

Legal & General

Established in 1836, Legal & General is the UK’s biggest provider of term cover.

It sells level, decreasing and increasing term policies with the option to add critical illness cover. It also sells over-50s life insurance and income protection.

• Maximum age to purchase a policy: 77 for level and increasing plans and 74 for decreasing plans
• Maximum plan age: 90

Royal London

Royal London, one of the UK’s largest insurers, was founded in 1861.

It sells level, decreasing term policies through its website, covering up to £750,000. Plans bought through advisers come with more options, such as higher limits, increasing term cover and options to add critical illness cover and income protection. It also sells whole-of-life insurance.

• Maximum age to purchase a policy: 70 (Direct) 89 (Advised) 
• Maximum plan age: 90

Vitality

Formerly known as the Prudential, Vitality uses rewards schemes to incentivise customers to make healthy lifestyle choices.

It sells level, decreasing and increasing term cover with the option to add critical illness cover. It also sells whole-of-life cover, over-50s life insurance, income protection and private health insurance.

• Maximum age to purchase a policy: 74
• Maximum plan age: 90

LV (Allianz)

LV was founded in 1843 but is now owned by Allianz. 

The insurer offers level and decreasing term cover, with the option to add critical illness cover for adults and children. It also sells whole-of-life insurance and income protection.

• Maximum age to purchase a policy: 84
• Maximum plan age: 89

Zurich

Zurich is a major Swiss insurer founded in 1872. 

It sells level, decreasing and increasing term cover. You can also add critical illness cover to your policy.

• Maximum age to purchase a policy: 83
• Maximum plan age: 89

Scottish Widows

Scottish Widows was founded more than 200 years ago and is part of the Lloyds Banking Group.

It sells level, decreasing and increasing term cover, as well as critical illness cover and income protection.

• Maximum age to purchase a policy: 59 if you apply online or 79 over the phone.
• Maximum plan age: 89

What can increase life insurance costs?

The price you end up paying could vary widely depending on the policy you take out and your individual circumstances. Here are four examples of why costs can differ:

1. Shorter or longer terms The period during which the cover applies will reduce or increase the price. Similarly, while these prices reflect 'level' term insurance, meaning the premium and cover stay the same for the duration of the policy, alternatives are available. 
2. Decreasing policies These are usually more affordable than term policies. That’s because the amount your policy will pay out reduces over time.
3. Extras can add up If you opt to combine your cover with other kinds of insurance, such as critical illness cover or income protection, the price of your premium will also be pushed up.
4. Health and lifestyle matters Any health conditions you have, or aspects of your lifestyle that could affect your life expectancy, such as drinking or smoking, may also affect your price. A major factor in your premium is your age, and term cover is substantially cheaper when you're young.

Is life insurance worth it?

A life insurance policy can offer you and your family peace of mind should something happen. You may decide to take out a policy in a variety of situations:

You're married, in a civil partnership or moving in together

It's worth considering how your partner would cope financially if you weren't there. A level term policy will pay out a set lump sum, while an increasing term policy will rise with inflation. 

If you're looking for life insurance for both you and your partner, you may decide that two separate policies are better than a joint policy. Separate policies sometimes make the most sense, as you get two possible payouts should you both die during the term, rather than just one payout as with a joint policy. 

Taking out a mortgage

While it's not necessary to have a life insurance policy when taking out a mortgage, it could help to cover the debt should you die. When you need to cover a debt such as a mortgage, you can buy decreasing term life insurance so the payout reduces over time as you pay off the mortgage.

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When you're a parent 

If you have children, it may be worth buying a life insurance policy so you know your family will be protected should you die. The amount of cover you take out may depend on the children's ages. For example, you may wish to cover small kids' school fees or contribute to older children's university costs. 

You can choose to cover your child until 'maturity', which is typically until age 18, although it can be adjusted to post-18 if you wish. Level and increasing term insurance will pay out a lump sum that could help your kids.

Inheritance tax

If you know that your estate will be subject to a large inheritance tax bill, you could use a life insurance policy to help pay it off.

What are the main types of life insurance?

Term life insurance:

Standard life insurance is called term life insurance, where you pick a timeframe (term) for the coverage. This is the type of life insurance we reviewed above. There are three main types:

• Decreasing term is tailored to big debts such as mortgages and pays out in line with the money needed to clear the outstanding loan. Premiums stay the same, making it the cheapest of the three types.
• Level term offers a set amount if you die during the term. Premiums are steady but higher than decreasing term, due to a fixed payout.
• Increasing term is when the payout grows by a fixed percentage or with inflation, such as RPI (retail prices index) or CPI (consumer price index). This option is more expensive.

Whole-of-life policies:

Whole-of-life insurance is a continuous policy that pays out whenever you die, as long as you keep paying the premiums, typically until you reach age 90. 

These policies are more costly than term insurance because they pretty much guarantee a payout, considering that everyone eventually dies, unlike term policies that only pay out if you die within a specific timeframe.

Best age to get life insurance

The price of life insurance goes up as you get older because younger people tend to be healthier, have fewer medical issues and are less likely to die during their term. Work, hobbies, family history and whether you're a smoker will all be assessed and will affect what you pay. 

For example, a £300,000 level term policy for a 50-year-old non-smoker costs between £569.76 annually (Aviva) and £657.84 (Legal & General). That’s according to LifeSearch data sourced in December 2025.

However, older people shouldn’t necessarily be put off taking out life insurance. With many couples having children in their 40s and people approaching retirement age still paying off mortgages, life insurance makes perfect sense for over-50s. 

Over-50s life insurance is one option for older customers. But as this type of cover means you may pay more in premiums than your loved ones will receive in the event of your death, it's important to understand how it differs from standard life insurance, which is also available to those aged 50 and over. 

Our guide examines what over-50s life insurance is, how it works and how it compares with the alternatives. 

If you're thinking of taking out a policy, always shop around and speak to a financial advisor to determine the best type of cover for your needs.

How much life insurance do I need?

When deciding how much cover to get, look at your financial situation and the needs of your family or loved ones. Consider things such as debts, funeral costs and mortgages. Also, think about everyday expenses, including kids' education and healthcare.

You may aim for coverage that replaces your income for a certain number of years. This helps your family financially right after you've died. Remember to account for any other income streams your loved ones may have.

You may also choose to cover a loan, such as a mortgage, with a decreasing term policy. This means that if you die, the policy will cover the amount you’ve set for the mortgage until it's repaid. 

Keep an eye on your life insurance needs. When major life events happen, such as getting married, having kids or buying a home, you may need to adjust your coverage. You can also talk to a financial advisor to figure out what works best for you.

• Find out more: Is private health insurance worth it?

What does our expert say on life insurance?

Dean Sobers, Which? insurance expert, says:

'Thinking about insurance means contemplating situations we don’t want or really expect to be in. Life cover (or – let’s be frank – death insurance) is the gloomiest of all, so it’s little wonder it’s a purchase that tends to get put off.

'But not only does having life insurance afford you some peace of mind that, should the worst happen, your loved ones will be financially protected; it’s also generally cheaper the younger you are, meaning it pays to be proactive and arrange your life insurance early on. This said, it’s also important not to make a rushed purchase. If you’re unsure which kind of cover or insurer would be best for you, consider taking expert advice.'

More questions on life insurance? Take a look at our guides:

• What is life insurance? The different types explained
• What is term life insurance?
• How much is statutory sick pay?
• Whole-of-life insurance explained
• Income protection insurance
• Family income benefit insurance explained
• Critical illness insurance explained
• Do I need life insurance for a mortgage?
• Can you have more than one life insurance policy?
• Joint vs single life insurance: which is best for you?
• How to write life insurance in trust
• Life insurance for people with diabetes explained
• Accidental death insurance and cover explained
• Life insurance for smokers explained
  
• Life insurance with cancer explained
  
• Over 50s life insurance explained: is it worth getting? 
• What does redundancy insurance cover?