The cost of your life insurance will depend on the cost of the monthly or annual payments, or premiums, that you are required to make to your insurer in exchange for cover. The cost of these premiums will be determined by a range of factors, such as the type of life insurance you choose, the type of payout you opt for and your state of health when you purchase the policy.
You may be offered the chance to purchase premium protection, essentially a premium payment insurance to ensure that you would continue to have life insurance if you were unable to pay the premiums due to illness or disability. If you are interested in reducing the cost of your life insurance as much as possible, see the article Policy Value. Remember however that some cheaper policies may not offer you very much cover.
For more details see:
> Premiums
