Top five tips for cutting life insurance premiums
With life insurance premiums at their lowest level in years, now is good time to buy, and protection specialists LifeSearch has published its top five tips to help cut the cost of life cover even further.Number one - shop around, an independent adviser can search the whole market, as opposed to tied agents who might only be able to sell a limited product range or expensive products from banks and mortgage providers. Number two - switch insurer, the cost of life cover has fallen by over 40 per cent in the last five years, so consumers could save money by switching.Number three - act early, premiums are more expensive the older you are.Number four - quit smoking, non-smokers can get cheaper premiums.Number five - consider family income benefit, which works the same way as a life policy, but instead pays out a regular income from the point of claim until the end of the policy, rather than one lump sum. Matt Morris, LifeSearch policy adviser, said: "These are five very simple ways to save money on life insurance premiums. However, this is just a guide and people must remember that cheaper is not always better. "Even so, if you can save money and still get the right type of cover for your circumstances, it makes sense to take advantage of the opportunity."
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