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How much does life insurance cost?

Christina | Greater London| 06/09/2017 | 0

  • Life Insurance

Christina's question in full

How much does life insurance cost?

Holly Mackay's Response

The cost of life insurance depends on a number of variables: your age, general health and the amount you need. As a rough guide, a 40-year old non-smoker would need to pay around £15 a month to give themselves protection of £250,000. However, life insurance can start from as little as £7 a month.

Some groups provide discounted gym membership and various other perks. Equally, if you are in good health, it can be worth picking a provider that gives you better rates for filling in a detailed questionnaire on your medical history. As a rule, it is better to do something rather than nothing, so even if you can only afford £7 a month, at least it will give your family something to fall back on.

You can get a quote online from many of the price comparison sites in less than 10 minutes. Having kids is the prompt many of us need to take this out – have a look at our Tired Parents tribe pages for more details on this and which life insurance providers we think are any good."

 

 

Just be aware...

We are not regulated to give personal financial advice - This isn’t full-fat regulated financial advice. Boring Money is a publisher and not regulated by the FCA. 

This means we can't help with specific personal circumstances or recommend specific investment products. It also basically means that if we say something daft, you have no recourse to come back and complain.

We’re only allowed to give you a steer or share an opinion or tell you the facts - That said, we promise that our answer to you is an independent unbiased perspective with no commercial gain to make. If you need regulated financial advice, you can find a good adviser via sites such as Unbiased & Vouchedfor.

Our Expert

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Holly Mackay

Founder and MD of Boring Money, Holly Mackay has been working in the investments space since 1998. She read Modern Languages at Oxford, with a special focus on Mediaeval French which was deeply interesting and arguably utterly useless.

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