Compare Cheap £250,000 Life Cover Quotes

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Rates last updated: 23 October 2019

A basic £250,000 life cover policy provides many people with the peace of mind that their loved ones will not be burdened with extra expenses just at the time of bereavement. For most customers providing £250,000 of life cover is not expensive provided you are not seriously ill.

Here is a table of the most competitive rates for £250,000 life cover to provide some ideas of how much the cover could cost. It’s always best to compare £250,000 life cover quotes before buying to check you are getting the best deal.

Male and Female £250,000 Single Life Cover Rates for Non-Smokers
£250,000 Life Cover10 Year Term15 Year Term20 Year Term25 Year Term30 Year Term35 Year Term40 Year Term45 Year Term50 Year TermWhole Of Life
Age 30 (n/s)£6.97£7.08£7.30£9.07£10.07£11.37£13.06£15.22£18.26£139.41
Age 35 (n/s)£8.81£10.13£11.07£11.94£13.80£16.79£19.45£24.55£31.79£161.86
Age 40 (n/s)£12.76£13.74£15.29£18.79£21.15£25.56£31.16£39.36£52.17£197.84
Age 45 (n/s)£17.68£21.01£23.79£28.66£32.08£41.30£53.35£68.94N/A£244.77
Age 50 (n/s)£27.12£30.67£36.26£42.21£54.20£70.31£90.60N/AN/A£297.15
Last Updated: 23 October 2019 (Source: PayingTooMuch.com)

Male and Female £250,000 Single Life Cover Rates for Smokers (that’s if you’ve used tobacco or e-cigarettes within the last 12 months)
£250,000 Life Cover10 Year Term15 Year Term20 Year Term25 Year Term30 Year Term35 Year Term40 Year Term45 Year Term50 Year TermWhole Of Life
Age 30 (s)£10.87£12.61£13.14£15.40£17.22£20.48£23.55£30.41£37.06£166.02
Age 35 (s)£16.20£16.36£18.97£22.86£28.39£31.85£38.60£47.60£59.13£202.83
Age 40 (s)£23.95£27.57£33.04£38.55£43.54£51.31£63.60£79.86£95.70£245.12
Age 45 (s)£36.76£44.98£53.65£64.67£71.57£88.82£102.96£121.08N/A£303.83
Age 50 (s)£60.25£76.95£90.63£106.60£122.96£145.41£166.75N/AN/A£375.34
Last Updated: 23 October 2019 (Source: PayingTooMuch.com)

Policy Types

Level Term Life Cover

Level term life cover provides a fixed pay-out on death if death occurs within a fixed number of years that you select at outset. For example if you are 35 and you buy a 20 year £250,000 policy, then should you die between the ages of 35 and 55 the life cover will payout £250,000. If you die aged 56 then nothing would be paid as the policy would have expired.

As you become more likely to die with age, the longer the term of the policy, the older you are when the policy finishes, the more likely the insurer might be to pay-out and hence the higher the premium.

Term life cover has a very real chance that it will not pay-out, which means (good news) you’re unlikely to die during the term.

Whole of Life Cover

Whole of life cover means that once the policy starts (at a fixed premium forever), you carry on paying the premiums until either you decide you don’t need the cover any more or you die. The cover can never be withdrawn by the cover company no matter how old you are.

Interestingly the oldest person yet to have lived died aged 122 years. Had they had a whole of life cover it would then have paid out, (unlike a term life cover).

Uses of Term vs. Whole of Life Cover

Term life cover is usually used to cover shorter term risks which can include loans and mortgages which should be repaid immediately on death. Term cover is also used to protect children who (in theory) become independent adults eventually and less reliant on Mum and Dad for emotional and financial support. In the same way term cover is used to protect maintenance payments to divorced couples where children are being supported.

Whole of life cover is used where the primary motive is to protect a partner for life which includes your wife or husband. Secondary uses of whole of life are for estate protection where there is a possibility of inheritance tax becoming due.

In summary there is no substitute for obtaining a personal quote which will be based on your own date of birth and using today’s most up to date rates from a wide panel of the UK’s top insurers.