Life Insurance for Couples with Children
Couples with children can get life insurance cover to protect their family cheaper if the follow as many of these 7 suggestions as they can.
How to pay less for your life cover.
1. Check the type of policy you already have. Some are more expensive than others. Term Assurance is the cheapest form of life insurance and LABrokers only arrange this type of cover. Better to have adequate cover than not enough.
2. Give up smoking. You’ll save hundreds over the life time of the policy and according to actuarial mortality tables you’ll live on average 5 years longer.
3. Don’t buy a policy for a term of years that is more than you need it for. For example if your youngest child is 3 don’t buy a 30 year policy but instead buy a 20 year one.
4. Don’t buy policies with unnecessary add-ons. Many are of dubious value for money as it can be difficult to qualify making a valid claim.
5. Currently the most competitive providers for life insurance tend to be Zurich, Royal London and Aviva.
6. Don’t fall into the trap of buying too much cover. You only need enough cover to replace income.
7. Should you choose to add an inflation option to your policy be careful, not all companies charge the same. Compare the total cost of premiums paid over the full term of the policy to see which company is offering you real value.
We insure our homes and even our holidays and phones, so doesn’t it make sense to protect those you love in the event that something happens and you can’t provide for them? As you age and your family grows, it’s important to think about how you can provide for them if you were no longer around. By planning in advance the type of protection you and your family might need in the future, you can ensure that you will be financially secure if faced with life’s difficult uncertainties.
For instant online life insurance quotes with no sales calls please see https://www.labrokers.ie/life-insurance/
Here is a handy life cover calculator: https://www.zurich.ie/life-insurance/life-insurance-calculators/life-cover-calculator/
John Geraghty is CEO of online discount brokers www.LABrokers.ie https://www.labrokers.ie/
Excellent Irish Consumer finance site: https://www.askaboutmoney.com/
