Compare Life Insurance Whole Life

COMPARELIFEINSURANCEWHOLELIFE.CO.UK

Rates last updated: 13 December 2019

Compare whole life insurance before you buy to check that you are getting the best value for money but also to check you are buying the right cover level for your budget.

Whole life insurance need not be expensive and will provide you with peace of mind that when you die your family will not be burdened with financial worries just at the time of bereavement.

The ready reckoner below shows that by comparing the costs of whole of life insurance you can save per thousand pounds of cover by buying a little more (discounts for higher sums insured), and that costs rise with age. There is no limit to the number of policies you can buy but as your health deteriorates through life, which is common for many, the premiums for policies bought in the years ahead will rise.

In the end there’s no substitute for getting a personalised quote from a leading whole of life insurance comparison website.

Comparison Of Whole Of Life Insurance Costs For Age 30 – 75 Non-Smokers, (that’s those that haven’t used any tobacco products or e-cigarettes within the last 12 months)
Compare Whole Life InsuranceAge 30 (n/s)Age 35 (n/s)Age 40 (n/s)Age 45 (n/s)Age 50 (n/s)Age 55 (n/s)Age 60 (n/s)Age 65 (n/s)Age 70 (n/s)Age 75 (n/s)
£10,000£9.84£10.00£11.24£13.05£15.38£18.31£22.17£26.95£34.04£46.58
£25,000£18.13£20.59£24.33£29.02£34.68£40.34£49.19£61.13£78.86£112.85
£50,000£32.57£37.01£44.51£54.28£65.19£76.52£94.22£118.10£153.56£221.85
£100,000£58.60£69.86£84.85£104.17£126.03£148.87£184.28£232.04£302.97£435.47
£250,000£139.41£165.81£202.69£250.79£304.47£360.18£447.29£564.80£739.30£1,066.04
Non-Smoker Monthly Premiums - Last Updated: 13 December 2019 (Source: PayingTooMuch.com)

Comparison Of Whole Of Life Insurance Costs For Age 30 - 75 Smokers, (that’s those that have used tobacco products or e-cigarettes within the last 12 months)
Compare Whole Life
Insurance
Age 30
(s)
Age 35
(s)
Age 40
(s)
Age 45
(s)
Age 50
(s)
Age 55
(s)
Age 60
(s)
Age 65
(s)
Age 70
(s)
Age 75
(s)
£10,000£10.23£11.71£13.65£16.10£19.44£22.99£28.05£34.80£44.69£58.58
£25,000£21.97£25.54£30.52£36.61£44.43£53.87£66.51£83.40£108.12£142.84
£50,000£39.69£46.92£55.12£68.80£84.70£102.86£128.40£163.49£213.33£285.12
£100,000£69.56£85.13£102.38£126.94£156.04£193.40£245.55£320.94£422.24£575.24
£250,000£166.02£202.83£245.12£303.83£375.34£467.03£598.17£774.52£1,027.33£1,398.16
Smoker Monthly Premiums - Last Updated: 13 December 2019 (Source: PayingTooMuch.com)

Index Link Your Whole Life Insurance
Unlike term life insurance it’s much more common to index link whole life insurance so that the sum it would pay out on death increases each year by RPI (the retail prices index) or a similar index of the cost of living.

What Is The Value Of Index Linking The Policy?
The purpose of life insurance, particularly a policy that will definitely pay out eventually on death, is to provide for your loved ones. If this provision is to mean something financially then the value it pays out must keep pace with inflation which is why many customers index link their cover.

Will The Premiums Rise To Match The Increasing Cover?
Premiums do rise to support the increasing cover levels under indexation however the insurance company will give you approximately a months notice of the change and you do have the option to opt out of the increase.

Bear in mind the increase is likely to be small given the low level of inflation and almost all customers do not have any problem in affording the few percentage points increases each year to support their policy payouts keeping place with inflation.