Is there an age limit for life insurance?

Yes, every insurer has a minimum and maximum age limit for taking out life insurance with them.

Generally, you need to be aged between 18 and 86 to buy life insurance, but this can vary depending on the insurer and type of policy.

Here are the age limits for policies available through Reassured:

Policy typeMinimum ageMaximum age
Term life insurance1886
Term life insurance with critical illness cover1875
Whole of life insurance1884
Over 50 life insurance5085


Term life insurance will provide you with cover for a set term and can last until you’re aged 90. If you pass away or fall ill before the set term ends, a pay out will be made.

Whole of life or over 50s life insurance will provide you with cover for the rest of your life, and a pay out is guaranteed.

Whether you’re looking for life insurance in your 20s or life insurance in your 80s, your age and other factors such as your health and smoking status will affect the cost of your premiums.

It’s also important to bear in mind that premiums increase as you get older, so it’s sensible to take out cover sooner rather than later for the lowest prices.

At Reassured, we can help you compare multiple quotes from some of the UK’s best insurers in order to find you the lowest quote they can offer.

Get your free quotes today using out award-winning broker service.

What is the best age to get life insurance?

It’s difficult to specify the best age to get life insurance as it’s more important to get life insurance when you need it, rather than at a certain age.

Many people are prompted to take out cover when they reach a certain milestone in their life, for example:

  • Getting married
  • Having a baby
  • Buying a home
  • Children starting school
  • Retirement
  • Losing a loved one

Therefore, the question is ‘when is the best time to get life insurance’?

Essentially, a good time to get life insurance is when you have dependents who rely on your income and you’re still fairly young and in good health.

This is because you can lock in cheaper premiums for the duration of your policy and have peace of mind that your family are financially protected.

A life insurance pay out can be used to help cover the following:

Funeral

Funeral costs (average UK funeral cost £3,953 and average cost of dying £9,200[1])

Re payment mortgage house

Mortgage or rental payments (average UK mortgage debt £142,755 per household[2])

Bills utilities

Household costs such as utility bills and council tax (average UK yearly household budget is £30,830[3])

Debts

Outstanding debts in your name such as personal loans and credit cards (average UK personal debt £34,566[4])

Family living

Family living expenses such as food, travel and clothing

Inhertiance

A cash gift for children or grandchildren to spend how they wish

It’s usually not a case of whether you’re too young or too old to buy life insurance, as it can be important at any age if others depend on you.

However, waiting to take out cover will mean paying higher premiums later in life, or you may find it more difficult getting the amount of cover your family need.

Seize the opportunity to today to secure the best quote we can offer you by using our fee-free service.

What is the maximum age for term life insurance?

The upper age limit for taking out term life insurance through Reassured is 86.

Term-based cover can last for a set period of time (1 - 40 years based on your requirements) but can’t surpass your 90th birthday.

This means if you were to take out a policy at 86, then the cover would expire after 3 years. If you don’t pass away during this time, no pay out will be issued.

You can choose between level term life insurance which provides a fixed cover amount for the whole term and decreasing term which provides a decreasing cover amount for the term.


The table below shows the minimum and maximum age limits for level term life insurance from some of our insurer partners:

InsurerMinimum ageMaximum age
AIG logo 1886
Legal & General 1877
Aviva 1877
LV= 1884


The table below shows the minimum and maximum age limits for decreasing term life insurance:

InsurerMinimum ageMaximum age
AIG logo 1886
Legal & General 1874
Aviva 1877
LV= 1884

Term life insurance key features:

  • Can help to cover a mortgage, family living expenses, unpaid debts and/or funeral costs
  • Pays out a cash lump sum if you pass away during a specified term (1 to 40 years)
  • Sum assured (pay out amount) up to £1,000,000 depending on your circumstances
  • Choose whether your sum assured stays the same (level term) or reduces in line with your mortgage (decreasing term)
  • Includes terminal illness cover free of charge (make an early claim if you’re diagnosed with a life-threatening illness)
  • Typically the cheapest form of life insurance
  • Fixed premiums from just £5-a-month

Find your best quotes for term life insurance from some of the UK’s biggest insurers by getting in touch with Reassured.

What is the maximum age for whole of life insurance?

The upper age limit for taking out whole of life insurance through Reassured is 84.

Whole of life insurance doesn’t expire at any age. It will continue to cover you until you pass away and a pay out is guaranteed.


The table below shows the minimum and maximum age limits for whole of life insurance provided by some of our insurer partners:

InsurerMinimum ageMaximum age
AIG logo 1884
Zurich logo 18

83


With whole of life cover, you must pay your monthly premium until you pass away or until a certain age (such as 90) with some insurers.

It’s also one of the most expensive types of cover, as the sum assured can be substantial and a pay out is guaranteed upon your death.

As a result, depending on what age you take out whole of life insurance, it’s possible to pay more into the policy than it’s worth.

Whole of life insurance key features:

  • Commonly taken out to help cover funeral costs, unpaid debts, and/or to provide an inheritance
  • Provides cover for the rest of your life and pays out when you pass away
  • Sum assured up to £1,000,000 depending on your circumstances
  • Better suited to those in later life who are in good health as they are less likely to pay more into the policy than what’s paid out
  • Fixed premiums from 27p-a-day ±

Compare free quotes for whole of life insurance through our award-winning broker service.

What is the maximum age for over 50s life insurance?

The upper age limit for taking out over 50s life insurance (over 50s plan) through Reassured is 85, and the lower age limit is 50.

An over 50s plan is an affordable option for those in this age range who suffer with health problems, as the application form doesn’t require any medical information and acceptance is guaranteed.

The cover lasts for the rest of your life and guarantees a pay out to your loved ones when you pass away.


The table below shows some examples of minimum and maximum age limits for over 50s life insurance provided by some leading insurers:

InsurerMinimum ageMaximum age
SunLife logo 5085
OneFamily logo 5080
Legal & General 5080
Post Office logo 5080


With an over 50s plan, you must pay your monthly premium until you pass away or until a certain age (such as 90) with some insurers.

The cost of your policy is based on your age, smoking status and cover amount (and no health factors).

Over 50s life insurance key features:

  • Commonly taken out to contribute towards funeral costs or to provide a small inheritance
  • Provides cover for the rest of your life and pays out when you pass away
  • Guarantees acceptance to applicants aged 50 - 85 (no medical questions)
  • Sum assured up to £20,000 depending on your circumstances and budget
  • Immediate accidental cover and full coverage after 12 or 24 months (depending on the insurer)
  • Fixed premiums from 20p-a-day +

What is the maximum age for term life insurance with critical illness cover?

The upper age limit for taking out term life insurance with critical illness cover through Reassured is 75.

This type of policy will provide you with cover for a set term (1 - 40 years) or when you reach a certain age, such as 86.

If you pass away or are diagnosed with a critical illness during the term, then a pay out will be made.


The table below shows some examples of minimum and maximum age limits for life insurance with critical illness cover provided by some of our insurer partners:

InsurerMinimum ageMaximum age
AIG logo 18

75

Legal & General 1867
Aviva 1864
LV= 1864

Term life insurance with critical illness cover key features:

  • Provides you with financial protection in the event that you pass away or are diagnosed with a critical illness during a set term (1 - 40 years)
  • Sum assured up to £1,000,000 depending on your circumstances
  • Covers a wide range of illnesses including some cancers, stroke and heart attack
  • Choose whether your sum assured stays the same (level term) or reduces in line with your mortgage (decreasing term)
  • Includes terminal illness cover free of charge (make an early claim if you’re diagnosed with a life-threatening illness)
  • Fixed premiums from just 33p-a-day º

Find the best quotes we can offer for life insurance combined with critical illness cover by getting in touch.

How does age affect the cost of life insurance?

The cost of life insurance is calculated based on your age as well as other factors such as your health, smoking status, weight (BMI) and chosen policy details.

Premiums get more expensive as you get older because the likelihood of a claim increases (and the risk to the insurer is higher).


The table below shows example premium prices for some policy types. Quotes are based on a non-smoker, in good health, taking out £100,000 of cover:

AgeDecreasing term
(20-year term)
Level term
(20-year term)
Whole of life
(guaranteed pay out)
20£3.50£3.59£58.10
25£3.50£4.34£64.58
30£3.85£4.38£71.22
35£4.50£5.63£85.89
40£5.39£8.12£100.33
45£7.61£11.67£117.15
50£11.20£17.26£124.65
55£17.84£26.11£143.57
60£31.83£47.50£167.92


This table below shows example premium prices for over 50s life insurance. Quotes are based on a non-smoker taking out £4,000 of cover:

AgeMonthly premium
50£12
55£14
60£16
65£20
70

£27

75£39
80£65
85£75

As you can see, the cost of life insurance starts to increase more rapidly from the age of 50 due to the increasing risk.

However, it could be possible to still achieve an affordable premium, depending on your personal circumstances and the cover you require.

Why not make the most of our free quote comparison service and we’ll do our best to find your ideal policy?

Getting life insurance at different ages

Life insurance as a young adult summary

Life insurance as a young adult

Young adults and people in their 20s can benefit from super low life insurance premiums due to the low risk of having medical problems or passing away.

For example, you could take out a term life insurance policy with a sum assured of £200,000 for 30 years and lock in a premium as a low as £3.50 a month for the duration of your policy.

Even if you haven’t yet had children or bought your first home, securing life insurance in your 20s can allow you to provision for these events in the future at a small monthly cost.

If your circumstances do change at any point and the sum assured of your policy doesn’t cover your new financial commitments, then you could take out a new policy to top up your existing policy.

Alternatively, with some insurers it’s possible to increase the sum assured of your existing policy (known as the ‘special events option’) at a later date without having to provide any new medical information.

If you’re working full-time and not yet ready to take out life insurance, then you may consider income protection insurance or critical illness cover as alternative ways to protect your financial future.

Life insurance as a senior summary

Life insurance as a senior

It’s not too late to secure life insurance as a senior. You might need financial cover to support your partner, help pay for your funeral or to leave a small inheritance to children and/or grandchildren.

Life insurance premiums are more expensive when you’re in your 60s, 70s and 80s as you’re more likely to have a health condition and there’s a higher risk that you’ll pass away during the policy term.

Your personal circumstances and budget will determine which types of policies will be best for you.

For example, if you’re a non-smoker and still in good health then whole of life insurance or term life insurance might be suitable as premiums can be affordable.

If you’re a smoker or have any pre-existing medical conditions, then you may consider an over 50s plan (for applicants aged 50 - 85) which is a type of no medical life insurance.

This type of policy will provide a guaranteed pay out to your loved ones when you pass away.

If you’re looking for life insurance at an older age, then it’s even more important to explore the options available to you and compare quotes.

Should I take out life insurance?

If you’re aged between 18 and 86 then you could take out life insurance through Reassured and have peace of mind knowing that you’re loved ones will be taken care of after you’re gone.

It’s even more important to have financial protection in place if you have a mortgage and outstanding debts which could burden your loved ones if something happened to you.

At Reassured, we can help you understand the different types of life insurance available to you based on your age and circumstances as well as compare quotes for suitable policies.

We also have a dedicated impaired risk team that have a track record of finding affordable cover for applicants who are deemed higher risk.

Reassured is rated ‘Excellent’ on Trustpilot from 70,000 customer reviews and we don’t charge a fee for our award-winning broker service.

Let us help you save time and money by comparing life insurance quotes today.

Sources:

[1] https://www.sunlife.co.uk/siteassets/documents/cost-of-dying/sunlife-cost-of-dying-report-2023.pdf/

[2] https://www.finder.com/uk/life-insurance-statistics

[3] https://www.nimblefins.co.uk/average-uk-household-budget

[4] https://www.money.co.uk/press/uk-personal-debt-rose-a-third-in-2022

[5] https://www.daynurseries.co.uk/advice/childcare-costs-how-much-do-you-pay-in-the-uk

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