Get life insurance early and benefit from better policies

Get life insurance early and benefit from better policies - News 2009

Life insurance is something that everyone should consider irrespective of their age, according to a consumer website, which has said that people who delay a purchase to save money in the short-term could actually be making a costly assumption in the long-term.

According to Shelter Offshore, taking out life insurance at a time when you are young, fit and healthier may actually result in a better deal and policy from a life cover provider.

While embarking on the exercise of getting one, consumers should not just jump on the first policy they encounter, advised the expatriate specialist, which recommended comparing quotes and products from different insurers.

Consumers also have the misguided notion that there is only one type of life insurance policy in the market, said Shelter Offshore.

However, people can opt for fixed products or others such as decreasing term assurance, which largely depends on an individual's circumstances, such as whether there are other things like mortgages in the picture.

The website recommended getting in touch with a financial adviser who can offer guidance on what type of policy would be suitable and how dependants will benefit.

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