Hello and welcome to the Moneybolt and new weekly Wednesday show where we dig into the archives

give you one of our classic episodes from back in the day. Welcome back, Dag, how you doing?

I'm good and this week we are looking at protection. So personal protection which includes life insurance

primarily but we also do touch upon other types of personal protections that includes critical illness insurance so

even if you think you've got your life insurance sorted you'll need to listen to this episode or you

will want to because there are ways in which you could save a significant amount of money even if you

have policies in place but we're also going to touch upon ways in which you can cut the cost of your in place. But we're also going to touch upon ways

in which you can cut the cost of your insurances. But we're also going to talk about some

clever ways you can use insurance that you might not have thought about. Also, we mention a hack

if you are insuring yourself and your partner. And we also touch upon how life insurance which you buy personally

interacts with the benefits that you get with your employer. So there's a lot of tips in this episode

primarily focused on saving money on your life insurance. And stick around for after this week's

clip because we've got a special offer for podcast listeners.

We've got five really quick tips on how you can save money on your life insurance.

So this is a piece that's driven by Andy about life insurance and that is the world where

Andy actually came from because as much as we talked about Andy's accountancy background,

actually his industry he worked in was life insurance. And Andy used to

advise people on life insurance. Yeah, so there's five really quick tips that I'm going to

provide you that will hopefully help you to either check that you're paying the right amount

for your current life insurance or inspire you to get out there and get a new quote and see if you can save some money. So the tip number one is probably the most important is don't overinsure yourself. And what I mean by that is work out how much cover you'll need. And there's various ways of doing that. You can use online calculators. Damien, how do you, how would you work out how much insurance you need? We've done an article on it, actually.

I give you an example.

So for me personally, the first thing I wanted to do is make sure if I died or my wife died, our mortgage was paid off. So we have a mortgage that's decreasing, obviously, because it's a repayment mortgage. So you could overinsure yourself if I took out a level term policy. so for the full amount of the initial loan

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