Using a little common sense and initiative you can however save your self some money and so make life insurance more affordable. Here are top 5 tips to help you get the cheapest and best deal available.

1. The number one tip when shopping for life insurance is to shop around. By shopping around - especially if you take advantage of the internet - and making comparisons of policies, you will quickly and easily get yourself the best deal possible. Factors to take into consideration when comparing policies includes understanding the details of the policy. These include the amount of premium you will be paying every month; the benefits you get from the policy; and, how much the surrender value of the policy is should you cash it in early. These charges will usually vary from company to company and can vary greatly with some in what you get for your payout.

2. Many companies will allow you to make savings if you choose to pay for your policy on an annual basis or by direct debit straight from your bank account. It is worth checking on this because you could be able to make a saving rather than paying on a weekly or monthly basis.

3. Where possible, instead of taking out several different smaller policies for life insurance take out just one larger one. A large policy is always the best value for money and will sell for less per amount of coverage.

4. If you have held a policy for a number of years then it might be outdated and you could be paying more than you should be for the amount you are covered for. In fact you could be paying around 2 to 3 times more than could you be if you shopped around online and compared newer policies for a better deal.

5. If you quit smoking and drinking, start exercising and lose weight if you need to, you could find that your premiums are a lot lower than those who smoke and drink etc.