Life Insurance News: Life cover 30% cheaper than a decade ago
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Article Published: 25-Jul-2007
Research compiled by Standard Life is on average thirty per cent cheaper than it was ten years ago. The example provided is that of a 40-year old male non-smoker would have paid £25.11 each month in October 1997 for cover of £100,000 for 25 years, today he would pay £14.42 each month for the same cover.
Andrew Cook, Standard Life protection marketing manager, says, “Our research shows life insurance has never offered better value, yet half of the UK adult population has insufficient life cover in place. Although increasing commercial pressures and a competitive market has driven prices down on average by over 30 per cent across the market, price on its own is clearly not helping to close the protection gap.”
Source: Insurance-4-life.co.uk
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