Where can I find cheap life insurance in the UK?
If you are looking for cheap life insurance in all honesty you might as well look for a patch of land where money grows out of the ground…Lets face facts straight away: there is no such thing as cheap life insurance and anything that seems unbelievably cheap is more than likely completely worthless or worse still, a total scam. Life insurance is not something that you choose to do in order to save yourself a few pounds – it is not essential to take out a life insurance policy in the same way that it is to take out a car insurance policy. Moreover, it is a long term investment and commitment that is designed to protect the future of your family when they are left without you. Do you want to palm your family off with a half hearted policy that could leave them facing financial disaster? Do you still want to look for a cheap life insurance policy?
Life insurance can be pretty expensive but there are many things that you can do in order to lower the premiums set by the insurance company. First of all you need to take a look at your lifestyle. Do you smoke frequently or drink a lot? As you should know by now, smoking causes cancer, therefore smoking increases the likelihood of you dying within the term of an insurance policy. Therefore if you are a smoker your premiums will be higher than if you’re not. The same applies to alcohol. Whilst a little alcohol is ok, excessive amounts can lead to severe health problems and ultimately death, so do the right thing and quit drinking and smoking if you want to find cheaper life insurance. You won’t lose out in any way if you do this – hopefully you will be around a little longer to see your children and grand children grow up, you will reduce your expenses and you will reduce your premiums on the life insurance policy. Everyone’s a winner.
Your lifestyle also affects the price of life insurance. If you have dangerous pastimes such as mountain climbing or parachute jumping there is more chance of a serious accident occurring than if you play bridge or enjoy the odd game of bingo. Whilst you may not want to give up an activity that you love you should be aware that it will increase the cost of your life insurance.
The best way to find the cheapest life insurance is to do your research in advance. Find quotes from as many providers as you can and haggle with the higher priced companies for a better deal. You might be able to get a better price by operating through a broker. Brokers usually earn commission from the insurance company for any sales that they make and sometimes they are willing to pass some of this commission on to you in the form of cut price premiums, therefore giving you a better deal. The price might even be better than if you were to deal with the insurance company directly.
Whatever you decide, it is imperative that you provide 100% accurate information when obtaining your life insurance policy. For instance, if you say that you are a non smoker and then die of lung cancer as a result of smoking 40 a day for 25 years it is highly likely that the insurance company will not pay out to your beneficiaries and further more your premiums will probably not be returned.
Disclaimer: The information contained on this page is not intended, nor should it be construed as providing any form of financial advice or guidance as to which insurance product/policy is right for you. If you are unsure as to which product meets your requirements/needs you should always seek advice from an Insurance Professional.