Are you looking for an affordable way to ensure financial protection for your loved ones should the worst happen to you? Look no further than applying for life insurance through Cavendish Online. We're committed to helping customers find the right protection at a low cost.
If you already know what you're looking for, getting a quote should be straightforward. However, if you're coming in at the deep end, we've got you covered. In this article, we'll guide you through the process of applying for life insurance. After that, you should be able to get an instant life insurance quote through our website.
1. Choose how you want to apply
The first step to getting life insurance is choosing how you'd like to apply. At Cavendish Online, we have 3 routes to choose from:
Route 1 - Quote & apply online: You can apply for an online quote by yourself. This is ideal if you know exactly what you need, are in good health and are confident writing your policy in trust. You could receive your quote within 30 minutes.
Route 2 - Quote & apply with guidance: If you're unsure on which policy is best, you can get advice from one of our helpful life insurance experts. This way you have all the information to make an informed decision.
- Route 3 - Quote & apply with advice: This route is recommended for those with medical disclosures or hazardous occupations. Our expert advisors can assist with helping you find the most suitable and affordable policy to suit your needs.
2. Select the type of cover you want
Before you apply for a quote, you'll need to know which type of policy you want to buy. There are two main types of life insurance:
Whole life insurance - A whole life policy protects you for the rest of your life, paying out a lump sum when you die. Both the cost of your monthly premiums and value of the payout remain fixed throughout the policy.
One downside is that premiums from whole life policies tend to be more expensive than other types of cover. This type of policy is not available via the online journey.
Term life insurance - This type of policy covers you for a specified period of time, known as the policy term. This can last for a number of years, after which the policy expires. The policy pays out a lump sum, providing you die within the policy term.
There are 3 main types of term life insurance policies
Level term - Both the cost of your monthly premiums and value of the payout remain fixed during the policy term.
Decreasing term - Intended to cover large payments like a mortgage. The payout value decreases throughout the term of the policy..
Increasing term - Protects the value of the pay out by increasing its amount over time. However, in doing so, your monthly payments will increase.
You can also get a joint life policy, which is typically used by people who jointly own a mortgage. This type of cover pays out if you or your partner dies, providing the surviving member with financial support.
3. Answer some health and lifestyle questions
Once you've chosen the type of cover you'd like, it's time to answer some health and lifestyle questions. These will help us determine whether you're eligible for cover and whether the premiums are likely to be affected. This includes:
Smoking also has a negative effect on the cost of your premiums. Smokers typically pay more for life insurance than non-smokers due to the long-lasting health effects associated with smoking.
It's important to disclose any medical information to your insurer, otherwise your family could be denied a claim after you've died.
4. View quotes from leading providers
Once you've answered some basic questions about yourself, we'll show you quotes from leading insurers. You can then compare these quotes to see what suits your budget and needs best. Unlike other providers, we don't work on commission, instead we'll ask you to pay a one-time fee of £25.
After that, you and your family can rest easy knowing you are covered for the future. Apply for a quote today to give your loved ones the protection they deserve.