Cheap Life Insurance - Get it Before It's Too Late!

By Ian Baldwin

When you are young money is often tight and you may put off buying life insurance but that can be a mistake. Let's see why.

Premiums are based on three main things:

Age

Sex

Smoker status

The premium you pay is also based on the amount of cover you need and also the state of your health. Then main thing to look out for is that it only gets more expensive as time goes on, it will never get cheaper. Also the longer you leave it before you take it out the more chance you have of getting an illness.

If for example you have high blood pressure the premium is likely to be what's called 'rated'. This means the premium will be significantly higher than for someone without high blood pressure.

As a result you need to take it out when you are young and health. If you get high blood pressure after you have taken the insurance policy out it doesn't matter, the premium will remain unchanged.

In order to guarantee what you pay for your life insurance make sure you choose a policy with guaranteed rates. This means the premium is guaranteed to remain the same throughout the term of the policy. So when you are over 50 and have had a few health issues you will be glad you take out the policy at 20 per month which would now cost you over 100 per month.

The best way to take out life insurance is online. Often companies will sacrifice commission to bring premiums down. If its basic life insurance you need then there is no need to seek advice as they all payout for the same thing. You simply need the cheapest.

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