Cheap Life Cover For 5 Years


Rates last updated: 26 October 2021

A life cover for 5 years is a very popular option as it provides valuable life cover protection for a very cost effective price. Usually a life cover over a term of 5 years is used as a short term protection whilst either a loan is repaid or perhaps to cover a period where cover is required but the budget is tight.

Premiums are calculated based up on your age and smoking status, the amount of cover you want and the term, in this case 5 years. During the application process you will also be asked a few medical questions to check you haven’t got any life threatening illnesses at the moment and most customers are accepted on the initial premiums quoted.

How much will it cost?

The cost of the cover depends on your age, smoking status and the amount of cover you buy. Use the table below to get some idea however there’s no substitute for getting a 5 year life cover quote for yourself.

Non smoker
Monthly Premiums
Age 30£3.60£3.68£4.60£5.89£10.29£17.14
Age 40£3.74£4.76£6.26£8.81£18.13£33.56
Age 50£4.29£6.59£10.18£16.87£37.66£72.03
Age 60£5.14£13.19£22.34£37.53£89.81£168.46
Age 70£7.43£35.86£62.83£106.72£238.08£449.34
Last Updated: 26 October 2021 (Source:

Monthly Premiums
Age 30£3.80£4.75£5.94£8.61£16.56£29.37
Age 40£4.17£6.10£9.85£16.17£34.47£65.29
Age 50£5.00£12.26£21.79£39.13£91.43£181.19
Age 60£7.92£31.31£53.95£103.23£236.35£446.87
Age 70£18.39£80.26£150.58£294.00£686.63£1,415.13
Last Updated: 26 October 2021 (Source:

Is 5 Years Long Enough?

This depends on your personal circumstances which comes down to factors like, have you any debts, how long might you have dependents but most importantly can you afford the premiums as there’s no point starting a policy and finishing it early because you can’t afford it.

Terminal Illness Benefit

Terminal illness benefit is included in all reputable life cover policies. This means that if you are diagnosed by a registered doctor that you have such a serious illness that you are like to pass away during the next 12 months then the insurance company will immediately pay the life cover out rather than wait until you have actually died.

You should note that it is normal that a terminal illness pay-out cannot be made within the last 18 months of the policy, although at present there is an exception to this with Ageas and Aviva (check the policy wordings!), who pay terminal illness claims right up to the end of the plan term meaning that some may get a pay-out where normally they would have died after the plan term ended.