How to buy online life insurance

Apply for online life insurance cover in minutes

Once upon a time, buying a life insurance policy was an ordeal that could best be described as ‘a bit of a faff’. However, nowadays it really is easier than ever - you just have to fill in your details and answer the questions, step by step. 

You can make it even easier by being duly prepared at your end. If you’re applying for a joint policy, the same goes for your partner as well. By ‘being prepared’ we mean if you were to have medical conditions, the insurer may understandably want to ask a few more questions. It may seem a little intrusive, but the better insurers can build a more complete picture of your health, the more accurate a premium can be calculated.

What is life insurance?

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

As with most types of insurance, you are required to pay monthly premiums once the policy begins. If you fail to keep making monthly payments, your cover may lapse and you will no longer be covered.

Types of life insurance cover

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 it's best to understand the different types available, before you buy online.

• 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. It also has a cash-in value (depending on your insurer) if you no longer need cover.
   

• 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.

There are 3 types of term life cover - level term, decreasing term & increasing term - learn more about how it works.

Whilst a standalone critical illness insurance policy does not cover death, it is still a handy policy to have in place. Critical illness cover 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 insurers 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.

What does life insurance cover?

The type of life insurance cover you require depends on you and your family's circumstances. Ideally, the amount of cover you chose should reflect your current monthly income. 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 online life insurance - 3 Routes

At Cavendish Online, we are dedicated to providing customers with the cheapest and most convenient route to buying online 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.

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 insurer will ask you some routine health & lifestyle questions. This will usually be regarding:

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, the risk 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, don't hesitate to get in touch via our contact form.