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Summary

Stop smoking and the savings will be more than you expect - you life insurance premiums should be some 50% cheaper to start with. This article explains.

Life and Critical Illness Insurance. Quit smoking and your premiums will crash. Page 2

Author: Michael Challiner (car insurance quotes)

Brokers Online offers cutting edge articles and information about Life Insurance, health insurance and loans.

People searching the Internet for low prices, have forced the insurance companies to cut their standard rates - these are the rates they quote all their initial enquiries. But the insurers have had to recover some of their revenue in other ways. What we have seen is a tightening of underwriting criteria. This means that anyone who is not a lithe, fighting fit non-smoker will have to pay non-standard rates - to you and me, that means more! And as smokers expose themselves to a self imposed health risk, they get hit in the neck!

So giving up smoking is a really good way to save on your life and critical illness premiums. Most companies wont classify you as a non-smoker until youve fully given up for a least a year - and some even want five years. But once youve passed the 12-month stage you need to contact your insurer and be re-quoted. And dont be tempted to lie because thats false economy. If you were subsequently to make a claim, the insurer is certain to seek confirmation from your Doctor that you were a non-smoker and if that was wrong, the claim would be thrown out under the policys non-disclosure provisions.

Once you have the re-quote youll see a big reduction in the premium but dont accept it automatically. The odds are that youll still get a cheaper quote elsewhere on the Internet - and what better place to start than our web site!

Just a word of warning. If you do find its cheaper to switch, dont cancel your existing policy until the new policy is confirmed and in place. Thats because its always possible that the new insurer will revise their initial quote upwards when theyve seen your full application details and health record. Only cancel your existing policy when everythings in place with your new policy. (medical insurance)

And its quite easy to terminate a policy - simply cancel your direct debit! After a few weeks the insurer will contact you to find out why - just tell them you dont need the policy anymore, and thats that! There are no cancellation charges just more savings in the bag.

Did you Know?
According to Land Registry figures, there has been a huge increase in the number homes sold for £1m plus. Despite what youd expect, this hasnt caused the scramble for business youd expect from lenders. Many of them are exercising caution when it comes to the well-heeled mortgage seeker. Surprisingly, the best deals go to the smaller borrower. It seem as if lenders would prefer to lend 10 borrowers £150,000 each rather than one loan of £1.5m, in order to spread the risk.

It is, however, beginning to get easier to get mortgage quotes for high value homes. Recent figures from the Land Registry show a massive increase in the sales of million pound plus properties.

Did you know?
If you cant get home insurance , beware – the Royal Institution of Chartered Surveyors warns that value of your house could fall by 80%. And its a high flood risk that is most likely to make your house uninsurable. According to a recent report, 6.5 million homes are already at risk from flooding and 1.5 million homes are in areas at high risk. Furthermore, if global warming continues, by 2030 this 1.5 million figure could double. (medical insurance)

Todays Tip

Dont buy direct from a Life Insurance Company or even your bank, until you have received at least two quotes from specialist life insurance brokers. That way youre bound to get a great deal for your life insurance policies .