Life insurance is something that all of us should consider. If you have dependants, or if you have a large mortgage on a residential or rental property, investing in life insurance will help to protect your loved ones’ finances in the event of your death.
Luckily for those living in the UK, the country’s life insurance is the cheapest in the world. This offers Brits a great opportunity to invest in good value insurance, safeguard their loved ones and put their minds at ease.
According to the Office for National Statistics, the average life expectancy in the UK is 79.2 years for men and 82.9 years for women. This is compared to an average life expectancy of 89.73 years in Monaco, 82.25 years in Japan and 82.14 years in Singapore. In fact, overall the United Kingdom comes in 28th in the world when in comes to life expectancy, showing that Brits still have a way to go before they can compete with the longest living people on earth.
The fact that British longevity isn’t among the best in the world makes it even more surprising that UK life insurance is the most affordable. As @Cover_Mag says, “The cost of life insurance in the UK is the cheapest in the world, even though some countries, like Japan, Switzerland and Singapore evince superior longevity.”
The cost of life insurance in the UK
The cost of life insurance can vary considerably from person to person. Insurers will take a number of factors into account when calculating your premium. These factors include your age, your health and your lifestyle.
The more risky you appear to an insurer, the higher your monthly premiums are likely to be. Talk to an insurer or experienced advisor to find out exactly how much you’d need to pay every month.
Critical illness cover
As well as cheap life insurance, Brits can also benefit from affordable Critical Illness cover. This incredibly useful cover pays out a lump sum in the event that the policyholder is diagnosed with one of the conditions listed in the policy. This money can be used to pay for medical care, home modifications, holidays or anything else the recipient chooses.
Premiums for critical illness cover have actually been decreasing for some time and these types of policies are now a very affordable option for Brits looking to protect their finances.
Investing in affordable life insurance and critical illness cover can help you to protect yourself, and your loved ones, from unforeseen illness and accidents. Find out more about these essential policies and secure the right policy for your needs, by getting in touch with a member of our team today.
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Written by: Cambridge Web Marketing