Check your life insurance policy
According to LifeSearch, individuals who have one or more illnesses exempted from their life insurance policies should not be paying the full amount on their premium.
If a condition or illness has been removed from the policy it is not as comprehensive as it could be. However, while consumers may expect this to mean the cost of the cover is reduced, in many cases it is not.
Policy holders are advised to look for another deal which will offer them the same level of protection at a lower price if they are paying above the odds for cover they are not receiving.
LifeSearch senior policy adviser, Matt Morris, said: “Consumers must remember to check whether the insurer will reduce the premium as recompense and if they refuse, speak to an independent adviser who can find you an insurer that will.”
If you have given up smoking, it is important to look for a new deal, as this can reduce the amount you pay on your premium.