Archive for the ‘Life Insurance’ Category
How much Life Cover do you need?
The cover limit should cover all of your outstanding debts such as mortgages, loans credit card etc and also provide a good income for your family.
A good rule of thumb is to take the highest earners income and multiply by 10.
If you have any endowments these can be deducted from the amount of cover needed.
Quit Smoking to Save Money on Life Insurance
On average, a 35 year old man in good health will pay £8.85 per month for £100,000 of cover over 20 years if he is a non-smoker.
If, however, this man is classed as a smoker, the premium rises by an astounding 78% to £15.75– costing him £1,656 extra over the term of his policy.
In the case of a woman classed as a smoker, the premium would rise by 72% from £7.25 to £12.45 per month.*
Consider Single Life instead of Joint Life Policies
Consider single life instead of joint life policies
Two single life insurance policies may be cheaper than one joint policy.