Life insurance is vital during tough times, expert states

Wed, 13 Aug 2008

Adopting a healthy lifestyle could help people cut the cost of their life insurance, according to one expert.

Emma Walker, head of protection at Moneysupermarket.com, explained that although people might be considering cutting their life insurance policy to save cash, they do have other choices.

According to Ms Walker smokers can reduce the cost of their life insurance by half if they give up the habit.

She also suggests that if people have several similar policies, such as income protection and critical illness cover, they could save by consolidating them into one policy.

Ms Walker said: "Protection insurance cover should be seen as an important addition to your finances and, even more significantly, prevent you being hit by a huge bill should your circumstances change."

People should also avoid taking out cheap insurance policies as often these do not offer a good level of cover, she added.

Yesterday, the Sainsbury's Car Insurance Index revealed that the average cost of car insurance increased by 5.8 per cent between July 2007 and June 2008.
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