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.

December 2018 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 December 2018 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 August to December 2018, 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

Peak age

Our data has shown that people aged 25-34 are most likely to take out life insurance, with more than 45% of our customers over the quarter forming part of this age group . This may be surprising but actually this corresponds to the fact that many people tend to make major life decisions around this time, such as buying a house, getting married or starting a family, and understandably you want to protect these important areas of your life.

The UK’s life insurance hotspot…

Dan Hutson, our Head of Life Insurance at, said:

“Life insurance is something that few want to consider but should be a top priority for anyone with any financial obligations, significant debts or responsibilities to other people. Unsurprisingly, 25-34 year olds are the largest cohort taking out life insurance, which is likely due to this age group thinking about protection after starting families and buying their first homes. Those living in the North East benefit from some of the cheapest premiums, while those in the South East pay, on average, over £7 more per month which reflects the higher house prices in the region.
“Life insurance can be very affordable if you regularly review your policy to make sure that you are on the most competitive deal that fits your requirements – the average cost currently stands at £20 per month. The most common trigger for taking out life insurance is when someone takes out a mortgage, but most people should look at getting cover before that, as there are often financial responsibilities which you would not want to leave to a loved one 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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