Consumers 'should shop around for life insurance deal'

Taking the time to seek out a competitive deal could save consumers significant sums of money on the cost of life insurance, it has been suggested.

While Britons may be aware of the need to compare accounts on products such as saving schemes, such a philosophy should also be applied when looking for life insurance.

So points out John Fitzsimons of lovemoney.com who notes that its "important to properly shop around for the best deal" when selecting life policy insurance.

Indeed, he notes that as there can be "significant variances" in the amount of money consumers have to pay out each month, taking the time to scour the market for a competitive deal could prove to be a wise idea.

A previous article by the news resource indicates that there can be a difference of more than £4,500 on the overall cost of cover, depending on what policy is selected.

But although such a British insurance policy may not be at the forefront of everyone's mind, those with children - as well as those who own a property with someone - are particularly advised to consider getting such a product.

"Without that cover, should the worst happen, you are putting your loved ones at unnecessary financial risk," he claims.