UK Protection Insurance 2026: Term Assurance

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.

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.