Life insurance consumers overpaying by £1.2B annually: DeadHappy

On 25-year policies

John Brazier
clock • 2 min read
Life insurance consumers overpaying by £1.2B annually: DeadHappy

Customers with 25-year life insurance policies are overpaying by as much as £1.2 billion every year according to DeadHappy.

According to the insurance provider's research, a combination of overpaying for premiums worked out on average basis over the 25-year period and cancelling policies that are "no longer fit for purpose" means that customers are significantly overpaying each year for their life cover. DeadHappy stated that because policies are set up where the price is averaged over 25 years, consumers are overpaying in the earlier 15 years to compensate for the later 10 years. Inflexibility is also causing people...

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