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Life Insurance News
Sainsbury's Bank: Life insurance costs are falling - 19/06/2007
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The average cost of life insurance premiums has fallen over recent months, Sainsbury's Bank has revealed.
According to the firm's new Life Insurance Index, 70 per cent of life insurance customers saw a drop in premiums between September 2006 and March 2007.
Claire Moyles, life insurance manager at Sainsbury's, said that the index should be seen as a "useful reminder to people of the need to shop around" for the most competitive cover, especially as the gap between the most and least expensive deals was measured at 25.75 per cent.
"Life insurance is one of the most important financial products you can buy so it is important that you invest time to find the right cover for you at a competitive price," she explained.
"A difference of £8.36 over 25 years amounts to £2,508, which is a significant amount of money."
Meanwhile, both the Association of British Insurers and price comparison website moneysupermarket.com have claimed that by making a change in lifestyle, such as giving up smoking, Britons can reduce the cost of life insurance.
© Adfero
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