More than 150 insurance companies offer thousands of life insurance products in the UK.Choosing the right company and right product from this bewildering choice is challenging. Fortunately, there are some common sense guidelines that will help you narrow the field to a more manageable selection of companies and products.Looking at the CostThe UK life insurance business is highly competitive, but the industry tries to avoid price competition whenever possible.

However, there are ways you can keep your premium rates to a minimum without affecting the quality of your cover.Consider Term Life Insurance - Term Life Insurance is the cheapest form of life cover available and premiums are very competitive. Shop around - in particular, if you know exactly what type of cover you require and don’t need advice, you can reduce your premiums by applying through a discount life insurance broker such as Life Saver. These broker’s discount the insurance companies standard premiums by rebating the majority of the commission paid to them as an agent for the company.

Stop smoking - premium rates for smokers are 30-40% higher than for non-smokers. If you can or are thinking of quitting you will save hundreds on your premiums over the term of the policy. Only pay for the cover you need - If you are looking for term insurance and critical illness, you can make big savings by buying a combined policy. These only pay out one lump sum rather than the two that separate policies would pay, if you suffer a critical illness and then die.

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