Cheap Life Insurance

Everybody wants to pay less for more. This includes life insurance. For everyone the price you pay will depend on age, health and lifestyle. Unfortunately if you smoke, are overweight or have health issues, then cheaper life insurance may not come your way. However there are other ways in which you can try and keep the costs down.

Some businesses will provide insurance as part of the perks of working for the company, which is all well and good. However this should not be your last word in life insurance. There is no law governing the company to allow you to keep the policy (even if you offer to pay). Our advice is to apply for a life insurance policy outside of work. This means you will have to take a medical to insure the state of your health.

If you suffer from an incurable illness or disease, which isn’t particularly life threatening and wish to apply for insurance, you will find that insurance policies will come in any form except cheap. Therefore you are looking in the wrong places. We’re not saying you can get a cheap policy but you can definitely get it cheaper if you apply to a specialist insurer. Some insurance companies have policies designed specifically for people with specific illnesses and/or diseases.

If you smoke or/and are overweight you are liable to extreme premiums on your life insurance. Should you quit smoking and lose even a small amount of weight this can reduce the cost of your insurance premiums by a substantial figure (depending on insurance company). Should you meet the national average in terms of height to weight ratio your insurance premiums could be cut by anything up to fifty percent.

Some of the cost of your insurance premium actually ends up in the salesman pocket, through commission. However some companies sell insurance with little or no commission. This evaluates to huge savings for you, providing you need little help finding the insurance package that is right for you.

Before you sign on the dotted line make absolutely sure you know how much everything is going to cost you. You may only be aware of the cost of the insurance premium. However there may be hidden extra costs. For the benefit of being able to pay by monthly direct debit, some companies may charge up to 20% of the yearly cost of your insurance premium. Such charges are often built into standard contracts and are therefore unseen until you have signed and are sent your first bill. Insurance covers the ‘what ifs’ and ‘what happens when’ in your life and if you lose your job then your company life insurance will expire. Even if you become disabled and are unable to work then your insurance policy will suddenly become null and void.