4 Ways to get a cheap life insurance policy

Although a rush to find the cheapest policy shouldn’t necessarily be the way to buy cheap life insurance, price is certainly a key consideration when it comes to buying any kind of policy.

You should always understand the benefits a policy actually provides, and remember that no two policies are the same. Some may seem like for like, however there could be certain exclusions or limitations to keep costs down.

If your family would find it difficult to cope financially in the event of your death, life insurance is certainly worth considering. The same applies if you depend financially (either in-whole or in-part) on another family member, such as your spouse. It can help cover the cost of future expenses such as mortgage payments, funeral expenses and other bills.

Having a broad understanding and overview of what Life Insurance policies actually offer is absolutely key. You may decide to forego certain things when choosing a policy, but just bear in mind that life insurance is really there to protect your loved ones, so make sure you consider their needs first when deciding on a policy.

The cost of life insurance cover varies significantly based on factors such as your age, medical history, general health and lifestyle. It will also vary from provider to provider – and of course based on the kind of policy you choose and the amount of cover (payout) you’re looking for.

Getting a cheaper life insurance policy

There are certain things you have no control over when getting a quote, such as your age, however other elements are within your control. These are some of the ways that you can cut down the costs of a life insurance cover:

1. Get a ‘term’ life insurance policy

Term policies are typically much cheaper than a whole of life policy, so choosing wisely can offer considerable savings. This type of cover provides protection for a set amount of years, acting as an ideal solution for short-term cover. Providing you die within the policy term, your insurer pays out a lump sum of money to your loved ones. 

Or, if you want to get cover for both you and your spouse, you can opt for a joint policy. Many couples find this to be cheaper and easier than managing separate policies.

2. Shop and compare life insurance quotes

By getting a quote through Cavendish online, you can be sure you’ll be getting a good deal, as we get quotes from a range of different insurers.

3. Buy as early as you can

If you have been putting off buying a policy, buy now and save money in the long term. 

4. Improve lifestyle-based risk factors

Some lifestyle activities, such as smoking, make life insurance considerably more expensive. In fact, the monthly premiums of a smoker are often double that of a non-smoker.

Speak With Us

Cavendish Online is committed to ensuring our fees and charges are highly competitive and transparent - so you know exactly what you are paying for when you use our different services. 

We can help you find the most suitable and affordable option for your individual circumstances, so we seek products from leading financial service providers - with minimal charge amounts. To find the best policy for you, we won’t limit your search to just one company.

If you don’t currently have any cover in place or you’re unsure if your cover still meets your needs - the team at Cavendish can help. Speak to us today for more information and to get a quote for life cover.