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How to save on Life Insurance!!!

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Life Insurance is one of those things I had been putting off for a while, but I knew I needed to sort it, I am now safe in the knowledge that my husband and little boy will be financially okay.

I suppose in some ways it was the extra cost each month that I would have to pay, but there are ways in which you can save money on your life insurance:

1. Inheritance tax can be avoided

If you die and have life insurance, the insurance will be counted as part of your estate and depending on how much your estate is worth it may be liable for inheritance tax.
How to avoid? When you take out the policy `write it in trust`that way your insurance policy will not become part of your estate. If you decide to do this it should be included in with your policy documents, if not give the insurer a quick call.

2. Two Incomes become none

Take into consideration when choosing the amount of cover you need, that if you die your other half may not be able to hold down a job as he may need to give up work to look after the children.

3.Do you already have death in service

If your one of the lucky ones and your company has given you a `death in service` benefit, find out how much it pays out and deduct from the cover you need for your life insurance policy.

4.Quit smoking!!!

It's a fact that smokers pay a lot more for their life insurance that no smokers.
So if your still smoking and want to give up before taking out a policy, you need to be smoke free for 12 months to qualify as a non smoker.
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