If you are single and don’t have any children, or anyone that depends on you financially then you don’t really need life assurance. You would be much better off using this money to buy an insurance policy that would give you an income if you were unable to work because of illness, for example, income protection insurance.

However if you have someone that depends on you financially, like a partner or children, then you need some life assurance to provide for them if you weren’t around to provide for them financially.

How much will Life Assurance cost?

Now is a great time to buy life assurance. Whole of life assurance and term life assurance are both much cheaper than they were a decade ago. As a result it's now a great time to buy life assurance whether you have never bought life assurance before or have an existing policy to switch.

You should buy life assurance when you are young because the older you are the more you will pay. Women pay less than men for life assurance because they tend to live longer. Giving up smoking can save you hundreds of pounds on your life insurance.

How to buy Life Assurance top tips

• Do some research and get advice to help you decide which is the right life assurance for you
• The younger and healthier you are the less you will pay for life assurance
• Make sure you have adequate life assurance to pay off your mortgage and to give your dependants enough money to live on
• Guaranteed premiums will stay the same throughout the life of the policy – reviewable premiums will increase over time
• Writing a will should help ensure that any money from a life assurance policy and your estate will go to who you want it to
• Two separate life assurance policies could be better value for a couple as cover won’t end when one partner dies
• Check if you have life assurance cover already with your mortgage or from your work
• Shop around to get the right life assurance at the right price
• Answer medical questions truthfully - if you don’t you could find that the policy won’t pay out when you die
• Don’t put off buying life assurance
• Put life assurance in trust to avoid inheritance tax and have it paid out quicker

Now is a good time to buy Life Assurance

In the last decade the cost of life assurance has fallen by between 20 and 30 per cent. Prices for both term and whole of life assurance policies are now up to almost a third cheaper than they were in 2000. However there can be big differences in the cost of the cheapest and the most expensive life assurance policies. It is also important that you buy the right insurance and shop around to get the right cover at the right price.

How to Find the right Life Assurance Policy

Life assurance is complicated and it's essential that you choose the right policy. We specialise in life assurance and will search the market and help you find the right cover at the best price available. Quotes for life assurance are free and you are under no obligation.

Compare Life Assurance plans now!