Life assurance costs a ninth of what it cost 50 years ago, according to Legal & General (L&G). The p...
Life assurance costs a ninth of what it cost 50 years ago, according to Legal & General (L&G). The provider claims the annual premium rate was £9 per £1,000 sum assured in the 1950s, whereas the cost today stands at just £1.04 for a non-smoker and £1.67 for a smoker.
Improved life expectancy has played a large part in the premium reduction. Ronnie Martin, protection director at L&G, said: 'Whatever else has changed, families today, as much as ever, require the security that term assurance can provide.'
