The cost of Life Assurance has fallen by half in the last ten years according to research from financial website MoneyFacts, in a report published recently.
Non smokers get the keenest deals although premiums have fallen almost as much in relative terms for those who choose to smoke. There is a differential of around 35% between premiums for smokers and non smokers.
Longer life expectancy and increased competition in the market have driven prices down says MoneyFacts. The number of providers has increased substantially in the ten year period and the advice is to shop around carefully as life assurance companies asses risk differently.
MoneyFacts warns that cover with one assurer can cost five times as much as their most competitive rival.
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