Whether you need life insurance depends on who relies on your income or your share of the bills, what you owe, and what cover you already have. There is no age at which it becomes necessary, and it is not a legal requirement, so this page sets out what to weigh rather than telling you which way to go.

An FCA-authorised broker can work through these questions with you for your own household, and the form on this page will connect you with one. It is free, and buying anything afterwards is up to you.

What decides whether you need life insurance?

Life insurance pays a sum to someone else, so the question is mostly about other people. Life insurance pays out when you die, not when you lose an income through illness or disability. MoneyHelper (archived August 2025) describes it as suited to people with dependants such as school-age children, a partner who relies on your income, or a family living in a house with a mortgage that you pay.

Legal & General's guide (5 December 2025) puts the same idea as a test: "You should consider getting life insurance if you have loved ones who are financially dependent on you." It widens the list beyond a partner and children to people such as "an older relative or a sibling with a disability".

That gives three questions to ask yourself:

  • Who relies on your income or your share of the bills? A partner, children, a relative you support.
  • What would still need paying? The amount of cover depends on any debts, mortgage or rent, the number of dependants and your take-home pay or other income. How to turn those into a sum is a method, not a verdict; how much life cover you need walks through it.
  • What is already in place? Employer cover, savings and a partner's income all count, and the next sections come back to them.

Life cover is also only one kind of protection. If your worry is losing income through illness rather than death, how income protection, critical illness and life cover differ covers the others.

Do you need life insurance if you are single, or have no debts?

Being single is not itself a reason either way. MoneyHelper's short list of cases where it says you don't need cover starts with "you’re single", and Legal & General says "Life insurance as a single person may not be necessary if you have no financial dependants." The condition in both is dependants, and a single person can have them: a parent, a sibling or a child who relies on their money.

Debts are the other half: any debts count towards the amount of cover, including a mortgage on a home your family lives in. How a particular loan is treated after a death is a question for the lender.

Nor does a lack of a mortgage settle it. Legal & General says "Some homeowners may no longer feel they need life insurance if they’ve paid off the mortgage", and then asks, with no mortgage in place, "could your partner cover everyday living costs such as household bills, nursery fees or rent bills".

What if you rent, or own your home with a mortgage?

Renting does not remove the question; it changes it from clearing a loan to covering the monthly cost of staying put.

For a mortgage, Legal & General says no specific law requires you to have life insurance when you apply, though some lenders may insist on it. Do I need life insurance for a mortgage goes through that question, and the policy types built around a repayment mortgage are in what mortgage life insurance is.

Does your age change the answer?

Legal & General says "There is no exact age when you might need life insurance – though the minimum age you can take out a policy is 18." Its guide to timing says many people buy when other people depend on their money.

So for a younger adult the useful question is whether anyone yet depends on you, and whether that is likely to change soon through a partner, a child or a property. If you are a parent, cover when you have a child goes further.

Age also bears on price, and the same guide says "Life insurance is generally more expensive the longer you leave it", though there is "no ‘best age’". So if you do conclude you need cover, waiting can raise what you pay; there is no reason to rush a decision you have not yet weighed. Whether premiums rise with age explains the pricing side.

What cover might you already have?

Before pricing anything, list what would already be there.

  • Death in service through an employer. If your job comes with a salary-linked lump sum, MoneyHelper's view is that, "Depending on how much it’s worth, you might not need an extra life insurance policy." Legal & General adds that it "will only apply for the duration of your employment". Check what it is worth and what happens to it if you change job. The NHS scheme is covered on NHS death in service.
  • A partner's income or your savings. MoneyHelper's list of cases where you may not need cover, mentioned above, includes a partner who earns enough for your family to live on. Whether savings would bridge the gap, and for how long, is a sum for your own household.
  • State benefits. The list also covers a low income where you "could qualify for State benefits". If your household relies on means-tested support, it flags that a payout could change what your dependants receive; how a lump sum would be counted is something to ask the benefits office.

Nothing stops you holding more than one life insurance policy, so existing cover can be added to.

Do you need life insurance in later life or in retirement?

The same test applies: who depends on you, and what would they need to pay? What tends to change is the list. A mortgage may be paid off and children may be independent, while other reasons come forward. MoneyHelper notes "You might also want a policy that covers your funeral expenses". SunLife's Cost of Dying Report 2026, covering funerals arranged in 2025, puts the average simple attended funeral at £3,828 and the lowest-priced type, a direct cremation, at £1,628. Those are survey averages, not the cost of any particular funeral.

People often take out whole of life policies to put towards a funeral or for Inheritance Tax planning; trusts are covered in what a life insurance trust is.

Older buyers have a choice of kinds of cover, and MoneyHelper is cautious about two. Of whole of life it warns that someone who lives longer than expected could pay in more than the policy pays out. Of over-50s plans it says "they’re not always good value, as you could end up paying in much more than you get out". Both are worked through on whole of life pros and cons and whether a plan for older buyers is worth it, with the options in life insurance for older buyers.

Legal & General's guide to timing (4 November 2025) gives 77 as the maximum age for taking out its Life Insurance and 74 for its Decreasing Life Insurance; other insurers set their own. If you are in later life and would like to know which kinds of cover insurers would consider for you, the enquiry form here can put that question to a broker.

Is life insurance a good investment, and what are the pros and cons?

It is not an investment. Legal & General's guide says a policy is worth nothing in cash unless a valid claim is made, so the fairer comparison is with other ways of meeting the same need, such as savings, not with returns. Whether you can cash in a policy is a separate question.

The points on each side:

  • In favour: a lump sum for the people who rely on you, which you can direct towards "specific payments – such as mortgage or rent" or use "to leave your family with an inheritance". A joint policy is "usually more affordable than two separate single policies", as joint life cover explains.
  • Against: term policies pay out only if you die during the policy, so if you outlive one you have had cover but no payout. Whole of life can cost more than you get out, as above. A joint policy pays only on the first death.

If you buy and then change your mind, MoneyHelper says "You have 30 days from buying the policy to change your mind and get a full refund". Pros and cons by policy type are on term life insurance pros and cons, and whether critical illness cover is worth it deals with the add-on.

If you have weighed it up and want a real figure, ask via the form on this page; the broker can set several insurers' terms next to each other and the conversation is free. How to choose a broker lists what to ask.

Frequently asked questions

What are the main reasons people take out life insurance?

The usual reasons are a mortgage, children and other dependants, and a partner who relies on your income. Legal & General lists buying a property and having children as common points at which people start to think about it.

Is life insurance a waste of money if I never claim?

If you outlive a term policy it pays nothing, as the points above set out. Whether that was money wasted depends on whether anyone would have needed the payout had you died during the term; prices are on what life insurance costs.

Does the type of life insurance depend on my age?

MoneyHelper describes level term as "the most simple and affordable option", with the payout fixed, and decreasing term as built for use with repayment mortgages. The choice is about what the money is for and for how long, and it is not set by age.

Does a widow or a retired person need life insurance?

The same questions apply: does anyone rely on your income or share your debts, and what do you already have? If you and your partner had a joint policy, it pays out only on the first death, so it pays nothing further on the second. The cost and quotes guides cover prices.

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