Cost of delay

It's never nice to think about what might happen if we died. For many people, life insurance is something you know you need but often put off buying. Life events like buying a mortgage or starting a family tend to make us think more about it.

It is worth considering getting life insurance sooner rather than later, particularly if cost is a consideration.

The cost of life insurance is based on your individual circumstances. When giving you a price, companies look at factors such as age, whether you are a smoker, health and lifestyle. Life insurance prices are based on risk, assessed on these factors. A younger healthier person will be offered a lower premium than an older person who has a more complicated medical history.

No one plans to fall ill and there is nothing we can do about our medical history. But if you take out life insurance when you're younger, you can take advantage of lower premiums.

Here's an example of how premiums can change as you get older:

AA member taking level term life insurance for £100,000 over 25 years Premium (taken on
29 April 2014)
Born 08/05/1982, non-smoker £7.13
Born 08/05/1972, non-smoker £13.10

As you get older your life insurance needs change too, and that's why AA Life Insurance allows you to increase or change your cover as your lifestyle changes. Find out more