The average cost of life insurance per month is around £10 based on various quotes which have been taken (Source: Bought By Many). This is based around a 35-year-old who doesn’t smoke and is a light drinker. Somebody who lives a less healthy lifestyle or has a more complex medical history may see that their monthly cost will be higher. As well as your lifestyle choices, the length of your cover and the plan you choose will also affect your premiums.
When you select a life insurance policy with 'Guaranteed' premiums, the monthly cost is fixed and will never increase. Typically, a larger sum assured/payout will command a higher monthly premium - so this is something to bear in mind!
If you want more information regarding the cost of various plans, then be sure to contact us here.
Unfortunately, we’re unable to let you know which is the best and cheapest life insurance plan. Each person’s situation is different, and the type of cover they require will be different from what you need. The cost of your life insurance policy will ultimately depend on the one you choose to go with as well as other factors, which you can view here.
By charging a one-off fee of £25, we ask all providers to rebate all the commission normally paid to a broker. This makes it possible to offer the lowest possible life insurance premiums in the UK. Read more about our fees here.
In terms of a monthly cost, as mentioned before, this varies based on your life situation, as well as the length of cover and type of cover you choose. With this being said, cover can start from just £5 per month.