Apart from age, there’s also other factors that affect the cost of life insurance, so we’ve put together the following points to understand how to keep the costs of life insurance down:
1. Live a healthy lifestyle – we all know what’s bad for us, so avoid drinking, smoking and try to keep fit and well.
2. Compare a range of policies and take your time - check out the policy features and exclusions too, don’t just think about the price.
3. Think about long-term affordability - the longer you live, the longer you’ll be paying premiums, so be budget-conscious before you commit.
4. Take out cover when you’re young - typically the younger you are when you take out the policy, the cheaper your premiums will be.
Like any insurance, you may only appreciate what good value it is when you consider a particular scenario if you didn’t have any cover in place. Look for low-cost life insurance now with Cavendish.
If others depend on you financially - or you have debt - it's important to have life insurance in place.
The best type of life insurance policy for you depends on your individual situation. Know the difference between ‘term’ and ‘whole-of-life’ policies to choose what’s best for you and your family.
The sooner you purchase life insurance, the better, as it becomes more expensive every year due to your age and the increasing likelihood of medical conditions.
Having ‘some’ cover in place is always better than putting it off to take out your ‘ideal’ level of cover.
In contrast, ‘whole-of-life’ policies are usually taken out by people who may no longer have dependents, but it can help your family deal with bills associated with inheritance tax when you die, and if you’re determined to leave some form of inheritance to your family.
Whatever your situation, there’s always no better time than now to take out life insurance cover, so speak to Cavendish Online today who can help guide and support you in choosing the right policy for you and your family on 01392 241 850.