Rates last updated: 19 October 2019
Level life cover need not be expensive and will provide you with peace of mind that if you were to die early then your family will not be burdened with financial worries just at the time of bereavement.
The ready reckoner below shows that by comparing the costs of level life cover you can save per thousand pounds of cover by buying a little more (discounts for higher sums insured), and that costs rise with age. Remember there’s no limit to the number of policies that you can buy and at the expiry of the first you can buy another one provided that you haven’t suffered ill health in the meantime and that you understand that with increasing age the premiums rise.
In the end there’s no substitute for getting a personalised quote from a leading level life cover comparison
website.Comparison Of Level Life Cover Costs By Age – Non Smokers
|Level Life Cover||Age 20||Age 25||Age 30||Age 35||Age 40||Age 45||Age 50|
Non-Smoker Monthly Premiums - Last Updated: 19 October 2019 (Source: PayingTooMuch.com) How Much Level Life Cover Should You Buy?
Level life cover is usually bought to provide financial protection for children if a parent dies. This is the cheapest and simplest form of life cover and means that should a death occur during the fixed term of years the life cover pays out. If death occurs after the term has expired then nothing is paid as the cover has finished. Whole of life assurance
will provide lifetime protection but is more expensive.
The amount and term of cover you buy is entirely up to you, there is no prescribed formula that works for everyone.
Perhaps the most important consideration is that you can afford the premium now and are likely to remain able to afford the premium whilst your children grow up into adults.
Then consider who else is in the family that would provide financial support as well as emotional support and time to help your children. How Long To Buy Life Cover For?
How long the cover lasts depends on circumstances and whether you have any dependents that need financial support if you die.
In the end it’s up to you to decide what’s appropriate for your budget and loved ones. Remember you can add to your life cover later but cover increases in cost with age and deteriorating health.