In times of financial hardship people are always looking for ways to cut back. There are many ways to do this including buying less treats, choosing supermarket own brand products or spending less on takeaways and nights out.

Some may feel inclined to cancel payments to things they consider non-essential like gym membership but when it comes to life insurance, if it is still within the budget and there are other things which could be cancelled instead, it really should remain in place.

The simple fact is people die. If you are reading this it hasn’t happened yet but it will and do you know when or how?

Life insurance is a good idea and well worth having if it is within budget.

Whether or not it is ‘essential’ is in the eye of the policy holder but if there is a family, children and a mortgage then choosing to leave behind debts and possible hardship over financial stability makes no sense at all.

It may be possible to find cheaper life insurance so it is worth shopping around to see it the same cover is available for less.

If life cover is in place and it was purchased several years ago it may be difficult to obtain cheaper cover because life insurance does depend on age and the older you get, the more life insurance costs.