By | June 18, 2010

There is nothing you can insure that matters more than life itself. You can get a new car or home and recover from holiday mishaps, but the loss of a life means someone unique and irreplaceable has gone.

Death comes to us all, of course, but it is when it happens in an untimely fashion that it has the greatest repercussions, with the potential for loved ones to face not just the grief of personal loss, but also financial problems, such as inheriting a mortgage they may struggle to pay and a drop in income without the main earner in the household.

If this is case for you, there is no doubting the value of life insurance. But when it comes to finding the best one, some may baulk at the sort of price it could be necessary to pay. On the other hand, those policies that come at a low cost may do so because their coverage is not very comprehensive and may have many exclusions. That could mean paying for a policy that is needed one day but will not deliver a payout.

The best way of making sure you are still covered as much as you need to be includes finding out what each policy includes. For example, some types of cover will deliver a lump sum in the event of your death that will pay the mortgage off. But if you have already done this you won’t need such a policy. Others may include elements to help your children, which will be superfluous if they have reached adulthood. So avoiding paying for unnecessary features is one way to bring premiums down.

Another effective move is to make your risk of early death lower, with some lifestyle changes. The best of these is to be healthier, by eating better food, exercising and giving up harmful habits like smoking.

Seeking cheap life insurance does not, therefore, mean putting yourself at risk of losing a payout because of a clause in the policy that makes the whole thing pointless. Instead, it is about finding the policy that is right and relevant for you and that means taking advantage of the skilled advice that is available to help you plan for the future without emptying your wallet in the present.

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