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How and where buy good life insurance

Life insurance payments can start from just a few pence a day depending on how much cover you want, but also on the likelihood of anything happening to you. But even if you’re high risk, you don’t need to accept the first life insurance offer that comes along – it always pays to shop around.

How much does it cost?
How much you pay for life insurance depends on the amount of cover you want (i.e. the amount you want paid out upon your death) as well as the likelihood that you will die in the near future.

For this reason, the amount you pay for life insurance every month (your premium) will depend on a few things, including:

  1. Age
  2. Marital status
  3. Whether you smoke or have previously smoked
  4. Health (your current health, your weight, your family medical history)
  5. Job (some professions carry a higher risk than others and may mean you have to pay more each month)
  6. Hobbies (for example, extreme sports)

The older you are and the higher the level of cover you’re looking to purchase, the more likely it is that your insurer will ask your GP for additional medical information, or ask you to undergo a medical examination.

The amount of cover you need will depend on:

Take home pay or income from other sources
Number of dependents

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