As you can see from the table above, the price you pay for life insurance increases as you get older.
While there’s no right or wrong time to get life insurance, it can be beneficial to secure a policy while you’re young and in good health.
For example, based on our table above, when taking out life insurance as a 30 year old you could pay £5.59 per month, whereas a 50 year old could pay £26.80 per month - this would amount to an extra £254.52 per year.
Even if you haven’t started a family or obtained a mortgage, seizing the day and securing a policy allows you to lock in the cheapest premium over the lifetime of your policy.
Many policies now offer a ‘life changes’ or ‘guaranteed insurability’ option which allows you to increase your cover amount without the need for new medical underwriting should your circumstances change.
Let us help you find the best life insurance cover for your needs from our panel of top UK insurers. Quotes are fee-free and no-obligation.