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Cost of Protection down 40 per cent

New research has revealed that the cost of life cover is 40 per cent cheaper than it was five years ago.

Conducted by protection specialist LifeSearch, the data showed that average monthly life cover costs dropped by nine per cent between March 2007 and September 2007.

While the cost of Critical Illness cover has also declined recently, Income Protection cover has remained relatively constant.

Customers can now potentially save thousands by simply reviewing their policies according to LifeSearch policy adviser, Matt Morris.

He added: "It is important to remember that price should not be the only consideration when choosing a protection product and customers should look at the policy that offers the best value for money."