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-May 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-May 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 March to May 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
Kamran Altaf

Kamran Altaf

Head of Life Insurance

Compare the Market

“Over the past year, we have seen some long term trends start to reverse in the life insurance market. It is most encouraging to see a decrease in regional disparities across the life insurance market. The North – South divide has reduced significantly, paying £17.05 and £22.40 per month respectively in the North East and London. Last year the gap was far wider at £11.98 and £28.42. The capital’s city-dwellers can now expect to pay around £22 a month for their life insurance policy – significantly less than in June 2018.


“It is unsurprising that the market has such strong regional disparities, as life insurance is inextricably linked to house prices which tend to be higher in London and the South. However, with the average London house price still standing at almost £500,000 – as opposed to £128,000 in the North East – the data suggests that life insurance is becoming more affordable for those living in the Capital.


“The price of life insurance increases with the age of the policy holder – meaning that it is in consumers’ best interests to take out a policy earlier in life so they are able to reap the benefits of a cheaper premium. Nearly one third (32 %) of policy holders take out insurance during the ‘Mature Independent’ life stage, once children have flown the nest, and pay almost £25 a month. Whereas those who have chosen to take out life insurance when younger individuals pay almost £10 less a month for their policy – meaning that significant annual savings can be made simply by taking out a policy sooner.

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?

If you want more information, 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 1147, Monday-Thursday 8am- 8pm; Friday 8am-7pm; Saturday 9am-2.30pm and Sunday, 10am-3.30pm.

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