Life insurance isn’t the cheapest thing in the world. However, cost is a key reason some people refrain from getting it despite how useful it can be.
What’s more, certain types of life insurance can seem even costlier than their actual value. That’s why it can be discouraging to think that you’re overpaying for a service that’s already considered expensive.
In NobleOak’s 2022 Whitepaper, research respondents confirmed that ‘not seeing the value in their policy’ was one of the main reasons they didn’t renew their cover. Another reason was that people didn’t know if they had the right type or amount of cover. Unfortunately, this is something that happens quite often. And it has to do with how well you’re able to compare available offers. Because without thoroughly analysing them, you’re more than likely to overpay for the kind of insurance you actually need.
Presumably, overpaying for life insurance