United Kingdom (UK) Protection Insurance – Term Assurance Market

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

This report provides an in-depth assessment of the term assurance market, looking at current and historical market size with regards to changes in contracts and premiums. It examines how term assurance products are distributed and highlights key changes in the competitive landscape, including the propositions of key market players and new product launches. It provides five-year forecasts of market size in contracts and premiums to 2030 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

The UK term assurance market increased in 2025, with premiums rising and the number of contracts increasing. This growth was mainly driven by mortgage-related term assurance due to a recovery in mortgage lending and housing market activity, which leads to higher take-up of term assurance to protect mortgage repayments.

Scope

Legal & General became the leading term assurance provider in 2025.

The five largest term assurance providers collectively accounted for almost three quarters of the market in 2025.

Non-mortgage-related term assurance accounted for the majority of contracts and premiums in 2025.

Key Highlights

  • Legal and General (L&G) remained the largest player in the term assurance market in 2022.
  • We forecast a decline in contracts for mortgage-related terms in 2023. This will be due to high-interest rates and the cost-of-living crisis, which have deterred individuals from taking out mortgages, thus impacting mortgage-related term take-up.
  • By analyzing data and spotting trends, AI can increase the accuracy and effectiveness of term assurance underwriting. If incorporated with wearable devices, the real-time data generated can offer insights for customized policies and flexible pricing.

Reasons to Buy

Examine the size of the term assurance market.

Learn about the competitive landscape.

Understand the influence of key market drivers on growth.

Learn about the implications of regulation.

Pulse
Yes to Life
Aviva
Scottish Widows
AIG
Legal & General
Royal London
Zurich
Vitality
Certua Life
Best Insurance
Shepherds Friendly
Eleos

Table of Contents

Table of Contents

1. Executive Summary

2. Background: The Protection Market

3. The Term Assurance Market

4. Market Drivers

5. Product Launches and Innovation

6. Competitive Landscape

7. Forecasts

8. Appendix

United Kingdom (UK) Protection Insurance – Term Assurance Market standard reports
Currency USD
$3,450

Can be used by individual purchaser only

$10,350

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Download FREE Resources

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Sample Report

United Kingdom (UK) Protection Insurance – Term Assurance Market was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Financial Services
New
Brazil Wealth Management: HNW Investors 2026
$1,295 | July 2026
Financial Services
New
South Africa Cards and Payments: Opportunities and Risks to 2030
$2,750 | July 2026
Financial Services
New
Saudi Arabia Cards and Payments: Opportunities and Risks to 2030
$2,750 | July 2026
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at United Kingdom (UK) Protection Insurance – Term Assurance Market in real time.

  • Access a live United Kingdom (UK) Protection Insurance – Term Assurance Market dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.