How To Cut Your Life Insurance Premiums - July 14, 2008 -

There are few sectors of the economy where prices are substantially lower than five years ago.

Even the retail prices index (RPI) has risen by an average 3% per year in the five years to January 2006. However, one sector of the financial services industry is far cheaper today than it was five years ago, that is Term Life Insurance products.

Term Life Insurance provides the cheapest and most straight forward life cover with no investment element. Depending upon your age and medical history, premium rates can be as much as 40% lower than five years ago as insurance companies have battled each other to the top of the price comparison charts.

Clearly, if you have a life insurance policy that was taken out more than five years ago you could well benefit from shopping around and replacing your cover. Even though you are older than when you first bought your policy you may find that:

• You can maintain your current level of cover at a lower premium
• Extend the term of your policy at no extra cost
• Increase the level of life cover for the same premium

How to get up to 40% tax relief on your life insurance premiums

Recent changes to the UK life insurance market means that you can now buy life insurance with premiums net of basic rate tax currently at 22%. If you are a higher rate tax payer you can claim an additional 18% back on your annual tax return.

This type of policy is called Pension Term Assurance and can now be arranged on a joint life basis with some UK insurers.

However, even with tax relief, Pension Term Assurance is not always cheaper than standard term and if you have a large pension pot there are some restrictions you should be aware of but, for many people, its definitely worth considering.

How to get discounted life cover

As well as lower standard premium rates, you can now benefit from a competitive marketplace of online life insurance brokers which didnt exist five years ago.

Due to the low costs and large audiences available via the internet, many life insurance brokers have launched websites offering life insurance with major insurance companies at discounted premium rates.

Savings vary but can mean reductions of between 10% and as much as 40% over the insurance companies standard premiums. Of course these discounts are in addition to overall lower industry prices over the last five years.

So if you have a life insurance policy more than five years old, you could make substantial savings whilst improving the scope of your cover.

Copyright Life Saver. Life Saver provides discounted life insurance quotes and policies online from leading UK insurance companies.

Whole Life Insurance Rates
Traditionally, there are two kinds of insurance policies - whole life plans and endowment plans. Whole life insurance plans have premiums that are paid for the lifetime of the insured and the proceeds of the plan are paid to the beneficiaries upon the insured death. In endowment life insurance plans, the premiums are paid for a certain period of t...

Whole Life Insurance Tips
Before deciding which kind of life insurance policy is best for you, you must know the key aspects of whole life insurance and how it will be beneficial for you. With a whole life insurance policy you can make your loved ones financially secure in the event of your death. Simply speaking, life insurance helps your loved ones by paying them upon you...

Cheap Life Insurance Policies
Life Insurance is an insurance policy that provides an agreed amount of coverage over an agreed term. This gives you an option just in case you should die during the policy term, and an amount from the lump sum is paid out. It is a cost effective way to provide for your family after you are gone. In cheap term life insurance policies, premiums are ...

Advantages of Whole Life Insurance
Whole life insurance also known as permanent or straight life insurance is one of the most applied forms of insurance. This life insurance policy covers ones entire life. This is much in demand because of its ability to provide financial protection and accrue cash value and pay dividends to the insured. In other terms, you can say it as an investme...

Whole Life Insurance Quotes
More and more people are now realizing the value of taking out a life insurance policy. Getting life insurance is an excellent way to safeguard the security and welfare of your family if anything unfortunate happens to you. You can choose from two broad categories of life insurance: term life insurance and whole life insurance.If you want a long-te...

Advantages of Whole Life Insurance Is It Better Than Term Life Insurance?
Many people know that whole life insurance policies are usually more expensive than term life insurance policies, and for this reason most people choose to purchase the less expensive term life insurance policies. However, despite the higher premiums you may pay for whole life insurance policies, there are several advantages of whole life i...

How To Save Money and Get Discount Life Insurance in Tennessee
If youre searching for Tennessee life insurance leads that offer free online life insurance quotes, surely youre interested in ways to save money and get discount life insurance in Tennessee, too.Take the following tips into consideration.Ask about paying your premiums annually. Paying a low life insurance bill each month may seem more cost-effecti...