Press Release 18-12-2009

Make a New Year's resolution to save money on Life Insurance

Protection specialists LifeSearch advise how consumers can save money on insurance premiums.

This New Year, after all the presents have been opened, the food has been scoffed, and the wine quaffed, make sure your finances are fit to cope with the cost of that very merry Christmas to ensure it also turns out to be a happy 2010.

Life insurance continues to see a price war between providers with a continued fall in premiums and consumers could be wasting thousands of pounds by not reviewing their policies, advises LifeSearch.

Remember - the difference between the cheapest and most expensive products can be significant, especially when multiplied over the term of a policy, so check with an independent adviser to see if you can get your policy at a cheaper rate.

Remember - if you have given up smoking for over 12 months, it is worth considering whether to rebroke the policy as you can potentially save hundreds of pounds with a cheaper premium. Although a cheaper premium is not certain, because it is dependent on age and health, nonetheless there is a very good chance that the premium will fall.

How much can consumers save by switching policies?

Source: www.lifesearch.co.uk

* Quote for a male non-smoker, aged 35 in good health, £150,000 of cover over 25 years, guaranteed monthly premiums.
** Quote for a 35 year old male non-smoker, Office Manager, in good health, to age 65, for £1500 per month, deferred 6 months.

Matt Morris, LifeSearch Senior Policy Adviser, says: "It is important to remember that price should not be the only consideration when choosing a Financial Protection product and customers should look for the policy that offers the best value for money. This means looking at the product which most suits individual circumstances and offers additional benefits."

"Importantly, if you are going to switch policies, do not cancel your existing policy until the new one is in place."

Enquiries

• Matt Morris, Head of Media Relations
  Direct Line:   0207 065 1020 / Switchboard: 0207 065 1000
  e-mail: mattmorris@lifesearch.co.uk

Notes to editors

• About LifeSearch
• LifeSearch can source case studies where required and can provide tables of typical premiums.
• Consumers can now buy Protection Insurance products online with regulated advice in a quick and simple format for the first time ever without having to deal with an adviser at www.getliferight.co.uk.
• Contact LifeSearch