Average Life Insurance Cost Per Month Uk

You should think of this number strictly as a baseline your own rates for life insurance will change depending on your age the insurer you choose and the amount of.

Average life insurance cost per month uk. In 2013 more than 25 000 people claimed more than 1 3 billion on the most basic form of life insurance according to trade body the association of british insurers. The average life insurance cost in the uk can be as little as 15 85 a month but this varies depending on the source. The average amount currently paid for life insurance is 30 40 per month but that includes every type of policy and a full range of different factors. It s about 30 per month but in many cases it works out a lot cheaper than that.

Never think of life insurance as a monthly cost you may be paying it for 20 years so every 1 a month cheaper is a saving of 240. As an example the most recent figures suggest that the average value of term length life insurance payout was 81 268 78. If the household s main earner falls ill and becomes unable to work their weekly income will drop to 350. Therefore the higher the risk the higher the premiums.

Life insurance premiums are also based on the risk the policy holder poses to the insurer. The price you pay for life insurance will depend on your own circumstances and what type of life insurance you opt for. Slash 1 000s off the cost of level term insurance. There isn t an average cost of life insurance.

What s the average life insurance cost uk. Only it means nothing. Their combined weekly household income is 860 with the main earner bringing home 515. Now if you ve been wondering and thinking about life insurance you have a baseline an average to work with.

More detail is given on what is considered higher risk below or you can take a look at our guide. How much does life insurance cost on average. Average cost of life insurance. The main earner pays 18 35 per month for an income protection policy covering 65 of her income.