Many of us will not like the idea of dealing with life insurance policies as it can seem a bit morbid in some people’s book, believing it’s like preparing for death or buying your own coffin but many people have got this all wrong.

Life insurance isn’t just for providing for your family in the event of your death but cover things like should you need extra medical care from a terminal illness, and considering this kind of care is rather expensive you’d be thankful that you had arranged cover for this kind of eventuality.

Many people who have had the forethought to arrange a life insurance policy don’t think of it as morbid, but more as a responsible thing to do should they have partners or children who depend on them. A recent study by one insurer has found that now is as good a time as any to get your life insurance sorted.

life insurance costs have been steadily coming down every year and despite almost every other financial product at the moment it is still an affordable expense and recent reports have put life insurance policies at their cheapest for the past decade. Hoping to entice UK residents to take more responsibility to their dependants a life insurance policy can now be bought for a cheap price compared to other pricey insurance policies like car and home insurance.

The only issue is that like car insurance you need to be a “low risk” potential policy holder in order to get the best savings, but how do you find out if you fit in this elusive category? Well whether you are a smoker or not is a big factor in the life insurance world, with smokers obviously being prone to more serious illnesses and shorter life spans they will have policies sometimes up to 50% higher than a non-smoker.

Another factor that is a growing issue is whether you are considered obese, obese people are again suspect to conditions like High Blood pressure, diabetes and prone to heart attacks which would equate to higher life insurance quotes.

Many UK insurers are urging people to consider life insurance as at the moment it is estimated that 73% of Brits don’t know how much their life insurance cover should be worth. This would equal 16 million people not knowing whether they are suitably covered or not.

It’s important to make sure that A, you are covered but also B, you are fully aware of the level of cover and whether you are happy with that as this is the future you are planning for.

About the author

Andy Adams is an experienced UK based financial writer