Price war halves life cover cost

A study by Moneyfacts found average term assurance premiums for non-smokers have fallen 53% for men and 48% for women since July 1998. It says, in monetary terms, this represents a £3,018 saving over a 25-year term for a male and £2,232 for a female, although it adds longer life expectancy has also contributed to the drop. Richard Eagling, editor of investment, life & pensions at Moneyfacts, says: “Longer life expectancy coupled with increased competition in the term assurance market has driven prices down to all time lows, but for non-smokers there are signs that rates may have bottome...