Quick answer · Updated August 2026
To compare life insurance quotes properly, hold six things identical: cover amount, term length, level vs decreasing, single vs joint, smoker status, and included extras (waiver, indexation). Identical cover varies 40–60% in price between insurers for the same person — which is why one quote is never enough. A whole-of-market comparison shows every major insurer in 60 seconds.
The Six Variables That Must Match
- Cover amount — a £150k quote vs a £200k quote tells you nothing.
- Term — 20 vs 25 years moves the price ~15–20%.
- Level vs decreasing — decreasing (mortgage-style) runs ~30–40% cheaper.
- Single vs joint — joint is cheaper but pays once; two singles pay twice.
- Smoker status — smokers/vapers pay 70–120% more.
- Extras — waiver of premium (+3–5%), indexation (+15–25%).
Why the Cheapest Quote Often Isn't the Best
The cheapest headline usually assumes perfect health. Declare a condition and the ranking reshuffles — insurers price the same diagnosis very differently, with 50%+ gaps common. Claim-paid rates matter too: our payout league table shows who actually pays.
Does Getting Quotes Hurt You?
No — quotes involve no credit check and leave no footprint. A declined application does go on industry records, which is why applicants with health conditions should use a broker's anonymous pre-underwriting rather than applying direct to one insurer.
Frequently Asked Questions
Effectively all of them — a whole-of-market comparison covers every major UK insurer in one pass. Identical cover routinely varies 40–60% in price for the same applicant.
No. Quotes involve no credit search. Only the eventual policy setup involves a soft identity check, which does not affect your score.
The initial quote assumes standard health. Underwriting prices your actual disclosures — conditions, BMI, family history. This is normal; a broker can pre-underwrite to avoid surprises.