Savings in life insurance highlighted

FAMILIES can save up to €400 a year on their life insurance costs according to brokers who are urging consumers to take a proactive approach with insurance companies.

The Irish Brokers Association (IBA) said consumers should reassess their life insurance costs and shop around to ensure that they are availing of falling rates and getting the best deal.

Chief executive of the IBA Ciaran Phelan said insurers rates are coming down and the offerings are becoming increasingly competitive for new customers.