Thanks to the wonders of the internet, it’s never been easier to arrange and compare life insurance online. Over the years, life insurance brokers and providers have streamlined their application processes, so nowadays, it can take as little as 20 minutes to set up a policy online.

Whatever stage of life you’re at, there’s a variety of options and policy types available to suit your needs. Do keep in mind though, that it’s important to choose the right policy for your individual needs, as choosing the wrong policy (or not understanding the policy) could leave you underinsured.

In essence, if your children, partner or other family members depend on your income to cover their living expenses (and the home they live in) you should definitely consider life insurance to help provide for them in the event of your death. You can’t rely on the government to take care of your family – the money they would get from the state is probably much lower than you’d expect.

At Cavendish, we’re committed to providing our customers with all the information they need to make an informed choice about what kind of policy will be right for them.

To apply for the type (and level) of life insurance you need, it’s important to take on board your individual circumstances, like savings, mortgages and existing credit arrangements in place. As everyone’s situation is different, so is the type of protection you’ll need - depending on your personal situation and what stage you are in life. Your age, health in general (including if you smoke) and whether you’re married are just a few factors that will be considered when applying for cover - determining how much your monthly premium (payment amount) will cost.

Be in the know.

The two types of life insurance policies you’re most likely to come across are ‘term insurance’ (the more basic form of life insurance) and ‘whole-of-life’.

‘Term’ life insurance policies run for a fixed period of time (known as the ‘term’ of your policy) eg. 10, 15 or 25 years - but only pay out if you were to die during the term of the policy. There’s no lump sum payable at the end of the term.

With a whole-of-life’ insurance policy, the clue is in the name. Unfortunately, we all die one day, so as this policy is ongoing, it will pay out a lump sum whenever that day comes.

As you’d imagine, these policies are typically more expensive than term insurance policies since as long as you keep paying your premiums, the insurer will always have to pay out, whereas you may outlive a term insurance policy.

If you’re not sure, speak to the Cavendish team over the phone or live chat, and we’ll be able to give you all the information you need to help you decide what’s best for you.

For the best rate and policy, shop around.

We can help you find the best life insurance policy for you, as we won’t limit your search to just one company.

Call for a quote today...

Our team of expert protection consultants are here to help. Call for a quick quote and more information now: 

01392 241 850(Monday to Friday, 10am to 6.30pm)

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