You are here: Home - Insurance - News -

Life cover can cost less than £10 a month

Written by:
Half of British adults would give a spare £10 to a member of their family, while a quarter would give it to charity and only 19% would keep it for themselves.
Life cover can cost less than £10 a month

That is according to research conducted by life and protection provider Bright Grey, which points out that many people could actually buy life insurance for less than a tenner.

It reveals that even in these economically challenging times, 39% of people across the country say they would not miss £10 a month, rising to 48% in London and Edinburgh.

Roger Edwards, proposition director at Bright Grey, said:

“Most people would be keen to invest the money into their family or to help those less fortunate than themselves, which is great, but few suggest that they would keep the money and put it towards their own lifestyle or to help protect their own future.”

He added: “As little as £10 per month can provide people with up to £200,000 worth of vital life cover that can protect their families against the financial risks associated with the main source of household income, losing their life. Securing their financial future should be fundamental for families to work out, and there’s little better way of spending a £10 note than to know that you have protection in place should the worst happen.”

Term cover can cost as little as £5 a month if you are young and a non-smoker. It simply pays out the lump sum assured if you die during the term of the policy – there’s no investment so if you don’t die, there’s no payout.

Supermarkets often offer cheap life cover and it’s worth comparing prices online as this is a simple commodity cover where price is really the only factor.


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Leeds Building Society launches 10-year fix at 4.58%

Leeds Building Society has launched a 10-year fixed rate mortgage available from 4.58%.