Life insurance more affordable than ever

A report from an independent insurance broker has stated that life insurance these days is more affordable than ever, with premiums for many people having fallen by around 30 percent or so over the past ten years. One industry official said that life insurance was currently cheaper than ever before, enabling those that may not have been able to afford the premiums in the past to enjoy the peace of mind of having this cover.

The broker has stated that those applying for insurance cover may be able to get some very competitive deals on their life cover at the moment, and even those that already have life insurance cover in place may find that they are able to cut their premiums by switching to a different provider that charges lower premiums for the same type and level of cover.

However, he also said that there were some people that would not benefit from the lower prices, as higher risk consumers would still be hit hard in terms of premium costs. This includes those that drink in excess, those that are obese, those with certain medical problems, elderly consumers, and smokers amongst others.

He added that it was important to shop around to make sure that the best prices could be obtained, stating: ‘No single insurer will be cheapest for everyone. Those who have a high BMI or complicated medical problems should shop around for the best cover.’