Cheap Life Insurance Quote

Term assurance is generally extremely economical, but reviewable premiums can be either beneficial or a drag.

Look far and wide for a cheap life insurance quote: the top ten term rates vary in price by up to 50% on any given day. You also need to juggle the extras and options on the policy to fit your needs, and finally be aware of the implications of the difference between guaranteed and reviewable premiums.

Whilst term insurance is a competitive marketplace with plenty of companies vying for your business, there’s plenty you should know before you try to find a cheap life insurance quote. Perhaps the most important is the distinction between guaranteed premiums and reviewable premiums. If premiums are reviewable, this means that at set intervals (usually five years) your premiums can change. This actually isn’t necessarily a bad thing- in the same way as when a fixed rate mortgage ends you might find yourself on a lower rate anyway. But most people do prefer to plump for the security of guaranteed premiums- and in today’s market prices are pretty much at rock bottom anyway.

The other secret to getting a cheap life insurance quote is to buy clever not cheap. The vat majority of life applicants under-insure; which is truly foolish. Instead of cutting cover where you need it, if you must cut cover then do it sensibly. For example, if you are married and protecting your children; you might buy a last-survivor joint life policy which pays out only when both parents have died, and is therefore cheaper than a first-death policy. Buy appropriate to your needs, and you’ll get away with the right deal.