The best time to get life insurance is as early as possible, when premiums are lower and health checks are easier to pass. Major life events like buying a home, marriage, or having children make cover even more important. Life insurance ensures your mortgage and family are financially protected if something happens to you.
Sep 1, 2025
Life insurance isn’t something most of us rush to think about. But when big life changes happen like buying a house, getting married, or starting a family it suddenly becomes very real. So, when is the right time to take out life cover?
At Mortgage Brokers Near Me, we often say: the earlier the better. Premiums are cheaper when you’re younger and healthier, and waiting until later can mean paying more for the same cover.
Life insurance costs are tied to age and health. A healthy 25-year-old non-smoker might pay under £10 a month for cover, while a 40-year-old applying for the same policy could pay double or more. Locking in a policy early means you’re covered at today’s price, even if your health changes later.
According to the Association of British Insurers (ABI), the average life insurance payout in 2024 was over £70,000. Proof that life cover really can protect families when it matters most.
You may not feel like life insurance matters yet, but this is often when premiums are cheapest. If you’re planning to buy your first home, getting cover now locks in low rates.
This is when many people take on a mortgage or start a family. Cover at this stage is usually affordable and offers peace of mind that loved ones are protected from large debts or everyday costs.
Premiums rise as you get older. If you wait until your 40s or 50s, you may still get cover, but you’ll likely pay significantly more. Health checks also become more important, and pre-existing conditions can limit your options.
“If I gave you a money-printing machine, would you insure it? Yes? You are that machine.” – Will Sharman
For most people, a mortgage is the biggest debt they’ll ever take on. If something happened to you, would your partner or family be able to keep the house? Mortgage life insurance ensures the loan is paid off so your family isn’t left with the burden.
When you’re sharing bills and planning a future together, life insurance protects your partner. It can give them the security of knowing they can cover the rent, mortgage, or living costs if the worst happened.
Having children changes everything. Suddenly, there are school costs, childcare, and daily expenses. Life insurance helps ensure your children are supported financially, even if you’re not there.
Some parents also take out policies for their children, mainly to help with funeral expenses or to guarantee future insurability.
Life insurance comes in a few main forms:
Understanding these basics helps you choose cover that matches your needs.
What is the best age to get life insurance?
The best age is as early as possible. Policies are cheaper when you’re younger, and you avoid the risk of being refused or charged more if health issues come up later.
Do you need life insurance for a mortgage?
It’s not legally required, but most lenders strongly recommend it. For many buyers, life insurance is about peace of mind knowing the mortgage would be cleared and their family could stay in the home.
How does life insurance work?
You pay monthly premiums to an insurer. If you die during the policy term, the insurer pays out a lump sum to your chosen beneficiaries. This money can go towards the mortgage, bills, childcare, or simply keeping life on track.
How many life insurance policies can you have?
There’s no strict limit. You can hold multiple policies. For example, one to cover your mortgage and another for family protection. The key is making sure the total cover matches your needs without paying for more than necessary.
How much does life insurance cost?
It depends on your age, health, lifestyle, and the amount of cover you choose. A healthy 30-year-old might pay under £10 per month for basic cover, whereas a 45-year-old smoker could pay several times that.
The right time to get life insurance is before you need it. Big milestones like buying a home, getting married, or starting a family make the decision urgent, but the smartest move is to take cover early while it’s affordable.
At Mortgage Brokers Near Me, we help you compare policies from across the market. So you get life insurance that fits your budget and protects what matters most.
Ready to explore your options? Speak to us today about life insurance that protects what matters most.
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