Don't buy too much cover. When you realise that you actually do need life insurance cover, you may panic and buy more than you and your family actually need. This may well leave them better off if you do die, but it will also mean higher costs while you're alive! So, work out what your family will need from a financial perspective realistically; you can always increase cover at a later stage if you need to.
Don't buy too little cover. Common life insurance tips would also point out that you don't want to put your family under financial stress if you die so do try not to be too stingy here! Balance is the key.
Buy the right policy. Your circumstances should help you dictate what kind of cover you buy. Many people, for example, will opt for a life policy that only covers them during their mortgage paying and child-rearing years as they know that they won't need so much cover once the mortgage is paid and the kids have grown up.
Review your cover regularly. Don't make the mistake of buying a policy young and then keeping it the same forever. If your circumstances change (i.e. if you have more children or pay off your mortgage) then review the cover you have.
Shop around. Common tips on buying life insurance always include this option. Don't buy the first policy you see as this is unlikely to be your cheapest option. Work out what you need from life insurance cover and then shop around for quotes. There is no point paying higher premiums for levels of cover that could cost you less elsewhere.
Shop online. One of the best life insurance tips that can save you money is to buy a policy online. Many insurers will give you a discount on your premiums if you do this.
