Over 60 Life Insurance Calculator (Indicative)
This over 60 life insurance calculator gives indicative premiums, not quotes. Which? found £200,000 of 25-year level term cover averaged £41.88 a month at age 51 and £122.45 at 61 for non-smokers in April 2026. We use those figures to estimate premiums for your age, term, cover and smoking status, and how much cover you might need.
- Age 51, £200k, 25 years£41.88 a month
- Age 61, £200k, 25 years£122.45 a month
- Average over-50s plan (2025)£30.41 a month
Updated November 2026 · Indicative, based on April 2026 average quotes
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Life insurance cost by age (UK 2026)
| Age | Level term, £200,000 over 25 years (non-smoker) |
|---|---|
| 23 | £6.04 a month |
| 31 | £8.20 a month |
| 41 | £16.20 a month |
| 51 | £41.88 a month |
| 61 | £122.45 a month |
These are the average of the five cheapest quotes Which? found at each age in April 2026. A 41-year-old smoker was quoted £35.62, more than twice the non-smoker price. Decreasing term cover, which falls in line with a repayment mortgage, was £6.85 at 31 compared with £8.20 for level cover.
Life insurance over 60: your options
- Level term: pays a fixed sum if you die within the term. Premiums rise steeply with age, and most insurers require cover to end by about age 90.
- Decreasing term: the payout falls over time, usually to match a repayment mortgage, so it costs less.
- Over-50s plan: guaranteed acceptance with no medical questions, a fixed premium and a small fixed payout. If you die from natural causes in the first year or two, usually only premiums are refunded, and you can end up paying in more than the payout.
- Whole of life: pays out whenever you die, but costs much more than term cover.
Over-50s life insurance costs
The average over-50s life insurance premium was £30.41 a month in 2025, for average cover of £4,680. At that price, premiums add up to the payout after about 13 years. Compare this with putting the same money into savings, especially if you are in good health and could get term cover.
How much life insurance do I need?
Add up what your family would need: the mortgage and other debts, plus enough income for a set number of years, then take off savings and any existing cover, such as death-in-service benefit from work. Over 60, many people need less cover than earlier in life because the mortgage is smaller and children are independent.
Frequently asked questions
How much is life insurance for a 60-year-old in the UK?
Which? found an average of £122.45 a month for £200,000 of 25-year level term cover at age 61 for a non-smoker in April 2026. Smaller cover or a shorter term costs less.
Is over-50s life insurance worth it?
It guarantees acceptance, but the payout is small and you can pay in more than it pays out. The 2025 average was £30.41 a month for £4,680 of cover, which adds up to the payout in about 13 years.
How much more do smokers pay for life insurance?
Often around twice as much. A 41-year-old smoker was quoted £35.62 a month against £16.20 for a non-smoker in Which?’s 2026 research.
Can you get life insurance at 70?
Yes, though term cover is expensive and most insurers want it to end by about age 90. Over-50s plans accept people up to their mid-80s without medical questions.
Sources and method
We use official UK guidance and recognised formulas, and test each calculator against worked examples. Results are estimates to help you plan, not professional advice. See how we work.