The best life-insurance policies for you may not be the least expensive. Those low, low premiums might fit with the family budget, but will they pay out? Bear a few other things to bear in mind, too. If your policy is cheap, it might not take into account the length of time it takes to draft your policy. The best life insurance companies always factor this in.

Your cheap plan might take longer to underwrite and many people are surprised how long this can take. Some companies will also take you literally on everything you've said to them. Then they'll try to trip you up when you claim. the best insurance plans are also found from a good knowledge of the insurance league tables. These can indicate where payouts will be good or bad.

The best policy won't try to worm out of a payout by defining illnesses differently. There are a whole host of other factors to think about when choosing the best policy like your family history and whether you are above-average weight or height. There's a policy out there that's right for you and it probably isn't the cheapest one.

The best life insurance companies will, of course, be regulated by the Financial Services Authority. To find the best life insurance, it's usually recommended that you go to a broker, who is completely independent of the main life-insurance companies. The best life insurance brokers will also give you a guarantee. Whichever policy you choose, the best life insurance will almost certainly be provided by one of the companies on The Exchange. This online search engine is subscribed to by most independent financial advisors ( IFSs ) to search for the best life insurance policy. Companies on The Exchange include household names like Aviva and AXA.

The best life insurance - the small print

You should remember that small print is vital. Study the Ts and Cs of your life-insurance policy - your circumstances could alter during the policy. This might make your current premiums irrelevant.

The best life-insurance policies will also take account of the economy. A plan taken out along time ago might not be relevant. Some of the best life-insurance companies offer index-linked policies. These rise year by year with the Retail Price Index.

If you hold an index-linked policy, it's best to find out if your insurance policy is linked automatically, or whether you have to opt in every year.

You must be aware of the conditions regarding payment. If you have a high-risk profession or hobby, your policy might not pay out.

The best life insurance will also cover you if it's linked to your work and you change employers. If you don't keep the same policy, start a new one as soon as you start your new employment. Remember, also, that insurance gets more expensive the older you get - so don't put off that search for the best life insurance a moment longer.

Copyright (c) 2009 Mark Walpole