Cheaper Life Insurance

1. This one is quite obvious but quit smoking. The monthly premiums for non-smokers will always be cheaper. Depending on how much cover you require or the type of policy you choose, the difference in price can be quite significant. So long as you have been smoke free for at least 12 months you too can benefit from non-smoker rates.

2. This point may also seem quite obvious but don't over insure yourself. It might actually help to look at your monthly out goings and indentify what would be needed should your family no longer have your or your partners income for financial support. The more you choose to cover yourself for the more you will have to pay.

3. Another way to ensure you aren't paying any more then necessary is to choose decreasing term rather than level term if you want mortgage protection for example. They can both ensure your mortgage is protected however a decreasing term policy goes down in value in line with you mortgage. A level term policy is different in that the amount for which you are insured stays the same throughout the length of the policy. If after 20 years you only had £30,000 on your mortgage but you started the policy with £100,000 worth of level term cover you are significantly over insured. This is why level term policies tend to be more expensive than decreasing term policies. So opt for a decreasing if it's mortgage protection you are after.

4. Ideally you should buy life cover as soon as you can. Older people and those with health complications may have to pay higher rates for their life insurance. So for a cheaper premium its best to take out cover when you know you are healthy as you could develop health complications which would affect the cost of you premiums.

5. Another point to do with your health. If you smoke, consume alcohol regularly, are overweight or have high blood pressure or cholesterol you are likely to have to pay more for your life insurance. If you can maintain a healthy lifestyle before you take out your policy you will benefit from cheaper life insurance compared to what you would have to pay.

6. Finally another thing which may help is where you choose to go on holiday. If you don't mind avoiding exotic locations for a few years, like Thailand or India for example, where you might be exposed to tropical diseases could also help to reduce the cost of your insurance and make it easier for you to apply for your life cover also.