Cost of delay.

It’s easy to put off buying life insurance. Generally we think about life insurance when something significant is happening in our lives. Buying a house and having a family are obvious examples. 
But it’s worth starting to think about life insurance sooner rather than later, especially if you want it to be as inexpensive as possible.

In 2009 there were 491,348 deaths registered in England and Wales ¹

Any life insurance quote you receive is based on your individual circumstances. Some of the factors taken into account include:

• Age
• Sex
• Smoker status
• Health; and
• Lifestyle

Because insurance is calculated on risk factors, the higher your risk (based on your circumstances) the more it will cost. If you’re young, fit and healthy, then the cost of life insurance can be relatively cheap. If you’re older and have had medical issues in the past – then your premium could be significantly bigger

There isn’t much we can do to affect our own personal medical histories. We never plan to become ill, but what we can consider is buying our life insurance whilst we’re still relatively young and healthy – and benefit from the cheaper premiums.

And these days, buying a policy earlier doesn’t mean that you have to stick with policies that may not meet your future needs. Lot of life insurance providers allow you to make changes to policies, so as your protection needs change, so can your policies. Read making changes to your policy for more information.

¹ Source: Office of National Statistics