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Monthly v annual premiums.
Are you looking for cheaper life insurance? Annual premiums may be the choice for you.
When you take out life assurance with us, you have the option to pay monthly or annually.
If you choose annual premiums we’ll give you a 4% discount. So if you’re looking for the cheapest life insurance, annual premiums could be the option for you.
The information below gives examples of how much you could save. Examples taken on 16 November 2010.
The examples are based on non-smokers, born 8/05/1970 taking level term life insurance for £100,000 over 20 years:
Female:
Monthly = £8.90
Annual = £106.52
% discount = 4%
Saving over 20 yrs = £85.60
Male:
Monthly = £10.80
Annual = £129.60
% discount = 4%
Saving over 20 yrs = £103.60
So when you get your life insurance quote online or over the telephone remember to select annual premiums if you want the cheapest life insurance option. Please remember to choose a premium payment option that you feel comfortable in maintaining for the duration of your plan.
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