The cost of life insurance can vary considering depending on where you choose to look for cover. One of the factors which are taken into account when applying for life insurance quotes is your health. The fitter you are the cheaper it will be but it looks from recent research carried out by insurer Norwich Union, individuals in the UK are lying about their lifestyle and health. It is important that you are totally honest when it comes to this. If not it could mean the insurer would refuse to payout.
Factors such as your weight, your lifestyle routine, whether you smoke or drink alcohol are all taken into account. It sees that around 82% of individuals in the UK are not totally honest when it comes to this. While this has been put down to things such as appearing healthy in order to attract the opposite sex, it also applies when applying for insurance.
While appearing fitter than you actually are can lead to getting cheaper quotes the policy would be invalid. If you fail to give information when applying for the cover or bend the truth a little you could find your policy would fail to payout and so be nothing more than a waste of money.
With this in mind it is essential to be totally honest when it comes to applying. There are many ways in which you can save money on you quotes. One of the best ways is to go online with a specialist broker. A broker will be able to search around with the whole of the market place on your behalf and find you the best deal for your circumstances. They will know from experience which insurance companies offer the best deals and secure them for you.
Of course you will have to do a little work yourself. Before approaching a broker you will have to know how much life insurance you need. A very rough guide is to take your annual salary and then multiply this by around 5. This will give you your loved ones financial security so they will not have to worry about paying essential outgoings for a while.
The quotes will be based on your age when applying and your lifestyle in general along with how much cover you need. This is what a broker will use to get the initial quotes. You need to take into account factors such as your children, paying for schooling for them, your outstanding mortgage and also take into account inflation. While a broker will be able to get you the cheapest quotes it is down to the individual to make sure they read the terms and conditions. All policies will come with the key facts and this will highlight the points of the policy. You do have to remember that the quotes given will be for basic life insurance. If for example you suffer from an illness such as asthma, then you can expect the quote to jump up once you have been given a full assessment.
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David H Thomson