Head of Content
Former Senior Protection Advisor
A life insurance policy worth £50k is lower than the UK average, but it’s still a good idea to research the costs and payout potential before getting started.
In this guide, you will learn all you need to know about £50k life insurance plans and can access quotes for them in seconds.
Is £50,000 life insurance coverage enough?
The answer to this question will vary, but there are rules of thumb when it comes to life insurance that can help you calculate whether £50,000 is enough coverage.
Carrying out any of the calculations below will give an idea of how much cover you need:
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Multiply your annual salary by the number of years your beneficiaries will be financially dependent on you after you have passed away
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Add up all expenses and obligations you would need to cover for your family
Some people also take out just enough cover to pay off a specific debt their beneficiaries will be left with. For example, you might estimate that there will be around £50k left to pay off on your mortgage by the time you pass away, and choose this amount of cover as a result.
If you’re unsure whether £50,000 will be enough to meet your needs, speak to one of our life insurance advisers so they can draw up bespoke calculations for you.
How much does a £50k life insurance policy cost?
The average cost of a £50,000 life insurance policy at the time of writing (February 2025) is anywhere between £3.40 per month and £5.64 per month. This is based on a market comparison for a 30-year-old male with no existing health conditions or risk factors.
These figures are for a £50,000k life insurance policy that would cover you for 25 years, taken out on a level term basis, but keep in mind that premiums can vary dramatically.
The actual cost of your coverage will depend on a range of different factors, including your general health and the type of policy you choose. Read on to find out more…
Factors that will affect the cost of your insurance
The cost of a £50k life insurance policy will depend on the premium the insurer sets, and they will decide what to charge for it based on the following factors:
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Age: The older you are, the more your coverage is likely to cost.
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Amount of coverage: Higher amounts tend to have more expensive premiums, which is why the cost of £50,000 cover is relatively cheap.
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Health and lifestyle: Having underlying health conditions can drive up the cost, as can lifestyle choices such as drinking regularly and smoking. Having high risk hobbies such as scuba diving and rock climbing can also increase your premium.
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Occupation: Working in a high risk occupation, like the police or the military, can increase your premium and drive up the cost of a £50k life insurance policy.
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Policy type: Level plans have more expensive premiums than decreasing policies, while whole-of-life, over-50s and increasing term insurance tend to be even higher.
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Gender: Life insurance is slightly cheaper for women compared to men.
How age will affect your premiums
The table contains example figures to illustrate how the cost of a £50,000 life insurance agreement will increase in line with the age of the policyholder.
|
Age |
Monthly Premium |
|
20 |
£5.00 |
|
25 |
£5.01 |
|
30 |
£5.64 |
|
35 |
£5.79 |
|
40 |
£6.27 |
|
45 |
£8.72 |
|
50 |
£12.97 |
These figures are quotes from a leading UK insurance provider. They are presented here for example purposes but may not be representative of what you would qualify for.
How much more more will smokers pay
The exact amount extra smokers will pay for a £50,000k life insurance policy compared to a non-smoker will vary depending on factors such as how many cigarettes you typically smoke per day and whether you have underlying health problems or a family history of them.
For comparison purposes: the average cost of a 25-year life insurance policy that provides £50k of coverage for a non-smoker is between £3.40 and £5.64 per month, while the average cost for a smoker of 10 cigarettes per day is between £5.01 and £7.66 per month.
How to get a £50k life insurance quote online
The best way to get a bespoke quote for a £50,000 life insurance policy is to have a whole-of-market life insurance adviser, like us, draw them up for you.
We are on panel with every insurer in the UK, which means we can advise on their products and often have access to exclusive deals from them. When we compile quotes for you, the deals we highlight will be personalised recommendations from across the entire market.
You will be presented with options from mainstream insurance providers as well as specialist insurers for those with complex needs, and we will offer expert advice on which to choose.
Get started with a free, no-obligation chat and access your £50k life quotes below:
Get your £50k life insurance quotes today
How much a £50k life insurance policy pays out
The amount a £50,000 life insurance plan will pay out will depend on the policy type you opt for. A level term policy will pay out the full £50,000 regardless of when you pass away during the agreement, while a decreasing or increasing term plan will pay out differently.
Decreasing term cover
The table below shows how much a decreasing term policy for £50k will typically pay out depending on which year of coverage you pass away during:
|
How Long Since Coverage Began |
Amount Paid Out |
|
1 Year |
£46,549 |
|
2 Years |
£42,821 |
|
3 Years |
£38,795 |
|
4 Years |
£34,447 |
|
5 Years |
£29,752 |
|
6 Years |
£24,680 |
|
7 Years |
£19,203 |
|
8 Years |
£13,288 |
|
9 Years |
£6,900 |
|
10 Years |
£0 |
We have compiled these figures based on a policy with a 10-year term length that decreases by 8% each year. The exact rate that your policy will decrease by may vary.
Increasing term cover
The table below shows how much an increasing term £50k life insurance policy will pay out over the course of 10 years, depending on when the policyholder passes away.
|
How Long Since Coverage Began |
Amount Paid Out |
|
1 Year |
£52,250 |
|
2 Years |
£54,601 |
|
3 Years |
£57,058 |
|
4 Years |
£59,626 |
|
5 Years |
£62,309 |
|
6 Years |
£65,113 |
|
7 Years |
£71,105 |
|
8 Years |
£74,304 |
|
9 Years |
£77,648 |
|
10 Years |
£0 |
The above figures are based on a policy with a payout that increases by 4.5% each year to remain above current inflation levels. The amount yours increases by may vary.
Why choose Teito for your £50k life insurance quote?
Our whole-of-life insurance brokers are well placed to help you find the most competitive quotes for your £50k life insurance policy.
Here are just some of the reasons our customers choose us:
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We are on panel with every insurer in the UK
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Our advisers can access exclusive life insurance deals
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We are 5-star rated on leading review websites
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You can access your bespoke quotes in seconds
Ready to take advantage of a free, no-obligation chat with a whole-of-market life insurance adviser to access your personalised quotes today? Get started here.
FAQs
Whole-of-life insurance has more expensive premiums than standard life insurance. The exact amount a police with this amount of coverage will cost will depend on the age of the applicant, their health and lifestyle, the policy type and other factors.
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