Competition between life insurance providers could mean big savings for policy holders, says LifeSearch.
The protection specialist says the cost of life insurance has dropped by 40 per cent over the past 12 months as providers try to outdo each other.
This means people could save as much as £3,300 on their life insurance by swapping to a different provider, says LifeSearch.
"Life and health insurance tend to be event driven purchases, usually triggered from buying a house, getting married, having children or changing jobs," said Linda Tyson, LifeSearch policy adviser.
"Although once you have purchased your insurance not many people think to review their policies regularly. If you bought cover in the last five to ten years you could make a significant saving on your premiums by shopping around for the best deals on the market today, as long as you are in good health," she added.
Ms Tyson says seeking advice from an independent advisor is one of the best ways to find a good policy and make sustantial savings.To read more about Life Insurance, click here.
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