Frequently Asked Questions Click to obtain a UK life insurance quote

What can I do in order to get low cost life insurance?

As you are no doubt aware, life insurance can be a very expensive investment and one that requires a great deal of commitment if the policy is going to help secure the futures of the people that you love. For many people the one thing that puts them off taking out a life insurance policy is the cost, but with a little careful budgeting you should be able to afford the monthly premiums for a simple life insurance policy without too many sacrifices. If you do have to make sacrifices you might even find that these sacrifices improve your lifestyle. 

The price of life insurance can vary by as much as 50% for a policy offering the same coverage, therefore it is extremely important that you obtain as many quotes as you can. At most obtaining another quote will cost you the price of the phone call and if you do it online the quote will be free but you could save yourself thousands of pounds in the long run. 

Just like car insurance, your individual circumstances will affect the price of your insurance premiums. In the UK your car insurance price is affected by conditions such as your occupation, how long you have held your licence and your driving record. Similar conditions apply for life insurance. If you have dangerous hobbies such as parachuting or mountain climbing your insurance premiums could be affected as there is a greater chance of an accident occurring than with a customer whose hobbies include reading and gardening. Most insurance companies will ask whether or not you smoke – if you do your insurance premiums will be significantly higher due to the increased chance that you have of succumbing to an early death. Smoking kills and if you take out a term life insurance policy the insurance company will consider that there is more chance of you dying than if you didn’t smoke. Alcohol works in a similar fashion. Whilst most of us enjoy the odd couple of glasses of wine a week many of us drink more than we should. This again will affect your insurance premiums. 

If you are married you will probably find that taking out a joint life insurance policy on a first to die basis will reduce the amount of money you spend on life insurance. In most cases this will work out to be cheaper than taking out two life insurance policies, leaving you a little more money to save for the future or spend on other things. 
Over the last few years we have been encouraged to cut out the middle man in most of our trading patterns, but the insurance world is a different one entirely. In many cases you might actually get a better deal by operating with an agent or broker. This is because brokers are paid on commission for any insurance policies that they sell. In order to persuade you to buy the policy from them most brokers will offer you some of their commission in the form of lower premiums. This will reduce the amount that you have to pay for your insurance policy and still ensure that everyone else makes a profit – good news all round really. Check out the insurance brokers in your area to see if you can find a good deal on an insurance policy.


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.

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