Life insurance doesn’t have one fixed cost. The price depends on your age, how much cover you want, your health, and whether you have pre-existing conditions. The earlier you start, the cheaper it usually is. At MBNM, we set policies up properly so your family can count on them when it matters most.
Sep 8, 2025
When people ask, “How much does life insurance cost?” they usually want a straight number. The truth is, there isn’t one answer. The cost of life insurance depends on a few key factors: your age, how much cover you need, your medical history, and whether you have any pre-existing conditions.
At Mortgage Brokers Near Me, we believe in making this simple. Let’s break it down.
The earlier you take out life insurance, the cheaper it usually is. A healthy 30-year-old might pay under £10 a month for basic cover. Wait until you’re 45 or 50, and the cost can easily double or triple. We’ve written before about why the earlier you start, the better.
If you just want your mortgage cleared, the cost will be different to someone who wants to provide for school fees or family living costs for years to come. Our guide to the best type of life insurance explains how to match cover to your financial situation.
Insurers will ask questions about your health and may request a medical. Things like high blood pressure, diabetes, or smoking can increase premiums. This doesn’t mean you can’t get cover but it does mean the cost will vary depending on the insurer and the level of risk.
If you’ve had a medical issue in the past, premiums may be higher or certain exclusions might apply. The key is to get advice before applying, so you don’t end up with a policy that isn’t fit for purpose.
“The earlier you start life insurance, the cheaper it is waiting only makes it harder and more expensive.” – Will Sharman
Absolutely. The peace of mind that your mortgage, partner, or children would be financially secure is worth far more than the monthly premium. If you’re not sure whether cover makes sense for you, check out our blog on when to get life insurance.
There is no single figure, but many basic policies for a healthy adult can be lower the earlier you take it out. As you get older, or if you want higher cover amounts, premiums go up.
Your age, the amount of cover you want, your health and medical history, and whether you have pre-existing conditions. These are the four main factors insurers use to set premiums.
Yes. Smokers usually pay more because insurers see it as a higher health risk. If you quit and stay smoke-free for 12 months, you may be able to reapply for lower premiums.
Often yes, but it may cost more, or certain conditions might be excluded. That is why advice is important. At MBNM we compare multiple insurers to find the right fit for your situation.
It is not legally required, but most lenders strongly recommend it. Having cover means your mortgage would be paid off if you die, so your family does not risk losing the home.
If someone relies on your income, partner, children, or even your business, then yes. The cost of a monthly premium is tiny compared to the financial safety net it provides.
There’s no single price tag for life insurance. What matters is finding a policy that suits your age, health, and financial goals and making sure it’s set up properly. That’s where we come in
Ready to find out how much life insurance might cost for you? Speak to us at Mortgage Brokers Near Me and get a policy you can count on.
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Mortgage Brokers Near Me LTD is an Appointed Representative of The Right Mortgage LTD which is authorised and regulated by the Financial Conduct Authority. The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. The Financial Conduct Authority does not regulate Will Writing and some forms of Trusts and Buy to Lets. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
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