How much does life insurance cost?

Probably a lot less than you think.

 
A recent study of 2000 people by Royal London found that almost one in three of those who do not have life insurance thought it was too expensive, yet the reality is premiums can cost as little as £6 a month.

If fact, we’ve compared the cost of a premium for a 40-year-old non-smoker to see how prices stack up and you could get a policy through us for under 40 pence a day;

Essential Insurance – £11.60

HSBC – £14.79

Vitality Life – £14.76

Aviva – £13.48

Direct Line – £12.57

Monthly premium prices were correct on 28/03/17 – and are based on level term life insurance for £150,000 over a 20-year term.

As consumer’s we have many sources of data at our disposal. We can research everything from arthritis to zoology, yet many of us make incorrect assumptions about one of the most important decisions concerning our family’s financial future: purchasing life insurance.

Various factors determine the cost of life insurance, the most basic of which are age and health. Generally, your premium is lower the younger you are when you purchase life insurance. Additionally, premiums are lower for healthier individuals, and there are things you can do to keep your premium low.

• Live a healthier lifestyle.Every choice has a consequence. Life decisions regarding tobacco use, food consumption, care for chronic illnesses and driving habits all affect the cost of your life insurance premiums. Making healthy life choices improves your quality of life and can lower your health risk and life insurance premiums.
• Consider your recreation choices.While jumping out of an airplane may be an amazing rush, skydiving will likely increase your cost of life insurance. Dangerous pastimes such as scuba diving, skydiving and motor racing can adversely affect your risk and increase your premiums.
• Make decisions based on facts, not fear.When making decisions on purchasing life insurance, make them based on facts. We can help you do your research and explain your options. We can guide you to a plan that best meets your family’s needs and fits your budget.

Don’t just assume that you cannot afford life insurance. Learn the facts, and make an informed decision. Your family’s financial future may depend on it.

For a free, no-obligation quote and assistance to explain the facts about life insurance give us a call today on 0800 612 8005.