As with all types of insurance, there are many factors to consider when choosing your life insurance policy.  One of the most important is to choose a reputable insurance provider and check that the Financial Services Authority regulates your policy.

It is tempting to choose the cheapest policy available; however, cheapest is not always best.  A cheap policy might not cover everything you need, which effectively makes it useless and a waste of money.  It is vital to select a policy that provides you with sufficient cover, even if it may be more expensive.

It is best to take out life insurance when you are in the best possible health, as fewer health problems will mean your policy will be cheaper.  If you have a partner and are both in good health, it can be more cost-effective to take out a joint policy.

The main reason most people take out life insurance is to cover their mortgage in the event of their death.  However, there are other debts to consider, such as credit cards and personal loans.  Therefore it is advisable to choose a life insurance policy which covers all those debts, as well as a mortgage.

It is beneficial to review your life insurance regularly, in case any details have changed and to be sure you have adequate cover.  Your insurance provider will need to know of any significant life changes, such as having a child, changing jobs or getting married.