Life Snapshot - Life Insurance Statistics

Our quarterly Life Snapshot is designed to show you who’s taking out life insurance, what life stage they’re at and what level of cover they’re choosing. We want to help you to have a better understanding of the policy you may need for you and your family.

March 2019 Life Snapshot

Life insurance is about making sure the people you love most are well looked after should the worst happen. It could ensure your family keep the home they’ve grown up in or that your children go to university, even if you’re not around to help with the expense.

Our Life Snapshot for March 2019 helps you navigate the world of life insurance. We hope that, by seeing what people like you have already chosen through Compare the Market from January to March 2019, this could help you understand the cover you need, in terms of policy type, cover amount and length of policy.

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Life insurance statistics

The UK’s life insurance hotspot…

Kamran Altaf, our Head of Life Insurance at, said:

Life insurance is most often purchased reluctantly. However, this should not diminish its importance to anyone with dependents. People who have any responsibilities to others – financial or otherwise – should ensure that they are properly covered by a policy that meets their needs and the needs of their dependents.’s latest Life insurance snapshot, shows that there is a large regional disparity when it comes to costs. Despite the average life insurance premium costing around £20, those residing in Greater London and the South East can expect to pay an average of £7 more per month. This is largely down to higher house prices in those regions, where the average home can set you back almost £500,000.** However, in the North East, where the average house price stands at £125,000**, consumers can expect to pay as little as £16.88 for life insurance. This reflects the fact that those with a higher house price, will likely have a higher mortgage meaning that higher levels of cover is need. Naturally, the price of the policy increases depending on the level of cover required.

“Figures also revealed that those aged between 25 – 34 continue to form the largest cohort taking our life insurance, likely coinciding with first-time home purchases and couples starting families. Life insurance does not need to be expensive and shopping around is always the best way to ensure you are on the most affordable and comprehensive deal. While most people purchase life insurance when taking out a mortgage, customers should consider doing so beforehand due to the financial responsibilities that may be passed over to their loved ones should something happen.”


Take the step

So you’ve seen what kind of life insurance other people are taking out, but you’re still not sure what you need. That’s where we come in. Why not enter a few details and get a quote through Compare the Market?

Or if you still want to find out a bit more, why not contact the expert advisers at LifeSearch? They could help you figure out just what you need. You can talk to them on 0800 072 1146, Mon-Fri: 8am-8pm and Sat: 9am-2.30pm. 

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