Once upon a time, the only way to apply for life insurance was in the flesh. Today, thanks to technology, life insurance can be purchased in several ways - including online. Applying online for life insurance through Cavendish Online can be a quick and easy process. Learn how you could be covered within 30 minutes.

What is life insurance?

Life insurance is a type of insurance policy that provides financial protection for you and your loved ones. When you die a lump sum is paid out to your family, providing financial support to help through this difficult time. 

As with most kinds of insurance; with life insurance, you are required to pay monthly premiums once the policy begins. If you fail to keep paying these premiums your cover may lapse and you will no longer be covered.

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Types of life insurance

Life is unpredictable, the only guarantee is that we will all pass away eventually. That’s why taking out a life insurance policy is a fantastic way to give your loved one’s peace of mind. Life insurance comes in several forms, so before you consider taking out a policy it’s best to understand the different types available.

Whole life insurance (also known as ‘life assurance’) provides cover for the remainder of your life - so long as you keep paying your premiums. When you die a fixed lump sum is paid out to your family to reduce the financial burden. The main benefit of whole life insurance is that cover is permanent, securing your family's future.

Term life insurance is arguably the most common form of life insurance cover. Unlike whole life insurance, you are covered for a specific period of time known as the ‘policy term’. The policy only pays out if you die within the agreed policy length. If you survive (which is a good thing!) you won’t receive any compensation on the premiums paid previously.

Joint life insurance provides cover for two people under a single policy. It is a popular policy choice amongst spouses, couples, business partners or any two people that want to share cover. Joint life insurance typically pays out after the first death of a policyholder. The surviving member will then need to take out further cover if required.

Guaranteed life insurance is designed for people aged 50 and over, who may struggle to take out life insurance due to age and health. Most life insurance providers will require a health exam or questionnaire to assess the value of your policy and premiums. As the name suggests, guaranteed life insurance does not take your age and health into account, making it much easier to get covered.

Whilst a standalone critical illness insurance policy does not cover death, it is still a handy policy to have in place. Critical illness insurance pays out a lump sum if you are diagnosed with a defined critical illness of a specified severity. It’s important to check your insurance policy terms and policy schedule, as not all illnesses are covered. 

You should also be aware that insurance providers have different definitions of critical illnesses which you would need to meet in the event of a claim - so make sure you are comfortable with your policy when you take it out.

Products from the leading financial brands

  • Zurich
  • Legal And General
  • Aviva
  • AIG
  • Beagle Street
  • LVE
  • Royal London
  • Vitality Life
  • Virgin Money
  • Budget Insurance
  • Scottish Widows

What does life insurance cover?

The type of life insurance cover you require depends on you and your family's circumstances. The pay-out from a life insurance policy can be used to provide financial support to your family in a number of ways. A policy pay-out can help with:

How to apply for life insurance - 3 Routes

At Cavendish Online, we are dedicated to providing customers with the cheapest and most convenient route to buying life insurance. Before you can apply for life insurance, you’ll need to get a quote - this is an estimate of how much your monthly premiums could cost. Get an online quote in minutes by filling out our online form.

There are 3 ways to apply online for life insurance with Cavendish Online:

  • Route 1: Apply Online - Once you have applied for a quote you can choose from a list of insurers. This option is best suited if you know exactly what cover is needed and are in good health.

  • Route 2: Apply with Guidance - If you have any queries about a policy and seek information, get in touch with our expert team on 01392 241 850. They can help guide you through the application process, to help you select the best policy. This route is best for those in generally good health or have minor health conditions. 

  • Route 3: Apply with Advice - This route is best for those with pre-existing medical conditions, employed in high-risk occupations, or those who simply do not know what policy may be best for their needs. Our expert team can recommend the right policy for you and advise you on your options. Call our team on 01392 436 193.

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How much is life insurance?

Ultimately, there are a few factors that determine the cost of life insurance. When you apply for life insurance (whether that be online or in person), your insurance provider will ask you some routine health & lifestyle questions. This will usually be regarding:

  • Age

  • Health

  • Occupation

  • Family medical history

  • Smoking status

  • Type of cover required

  • Length of cover required

It’s really important to answer any questions your insurer asks on your application for cover 100% openly and honestly. If you do not disclose something and later try to claim, it could impact your ability to benefit from the policy. 

Generally speaking, the rule for life insurance is that as you get older, the cost of a policy rises. This is because as we get older, our chances of developing health conditions increases, therefore insurers increase the policy cost to balance the risk. Because of this it is best to take out cover when you are young to avoid paying higher fees in the future.

Get cover in just 30 minutes

So there you have it, the 3 simple steps for taking out online life insurance through Cavendish. If you have any further questions, do not hesitate to get in touch via our contact form. Or, if you wish to speak to an advisor over the phone, give us a call on 03456 442 540, today!

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