#5 Insurance Cost

Insurance Costs

The cost of insurance depends on a number of factors - gender, age, health, occupation, hobbies (risky ones. at least!), family history, and whether you smoke or not. All these are taken into account when calculating the cost of insurance and naturally, these will vary depending on your personal circumstances. While it looks complicated, like everything else these days, working out the cost is automated and is quite a simple process. However, please note that any of the health or family history issues might require further research by the insurance company (at their expense) before a final cost can be provided.

The cost of your insurance depends on several things, including;

• The amount of cover, I.e. the sum insured

• Length of cover required

• When the cover starts I.e. immediately, or after 2 years

• Your age

• Your health, occupation, pastimes, and sometimes where you are living

• The extent of cover covered in each policy, standard exclusions, etc