Moneygate

Looking for discount life insurance?

From being born a man to cleaning windows for a living, there are plenty of things that could affect the cost of your life insurance and make it harder for you to get cheap life cover.
While the cost of life insurance continues to fall, there are a number of factors that could dramatically hike the cost of your premiums, explains Annabel Green, of national IFA Moneygate. These include:

Perilous professions: Annabel Green, of Moneygate said: “If your job routinely lands you in dangerous situations, you'll almost certainly struggle to get discount life insurance. It probably comes as no surprise that stuntmen and race car drivers fall into this category, but did you know window cleaners, journalists and farmers can also be deemed high risk by their insurer?
“If you're in a dangerous line of work, you might want to consider buying cover from a company that specialises in high-risk claims.”

Being a man: Annabel Green, of Moneygate said: “Life expectancy is lower for men than for women in the UK (77.4 years verses 81.6, according the Office for National Statistics). Because insurance companies want us to live as long as possible, the male of the species will probably pay more for premiums.”

A weight-ing game!: Being overweight or obese could put you at risk from a number of potentially fatal illnesses such as a heart disease and some kinds of cancer. So for the sake of your insurance (and your health), it might be worth dropping a few pounds before you buy your policy.

Raise a glass: Annabel Green of Moneygate said: “When you apply for a policy, your insurance company will want to know about your drinking habits, as excessive alcohol consumption is linked to a number of chronic medical conditions and can significantly lower your life expectancy.

Counting the years: Few of us give life insurance a second thought when we're young and carefree, but this could be the best time to buy a policy if you want to pay less.

Medical history: Annabel Green, of national IFA Moneygate said: “Having a history of serious health problems can make it difficult - or even impossible - to buy life insurance. If you do have a serious medical problem, you could get a better deal with an insurance company that specialises in covering those with health problems.”

Not shopping around: As with any financial product, you should always shop around to make sure you get the best deal on your life insurance. Annabel Green, of national IFA Moneygate said: “You could end up paying too much for your premiums by simply accepting the first quote you get. One of the easiest ways to shop around for life insurance is by using an online price comparison site.”

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