With the news that online insurance sales hit an all-time high in 2014, now more than ever people are choosing to log on and buy their life insurance online. To mark this occasion we’ve given a run-down of all the things to be mindful of. Your handy guide to ensure that buying your policy is a piece of cake.
Size yourself up (tape measure optional)
You wouldn’t buy a pair of shoes without seeing first if they fit, would you? The same goes with Life Insurance. Before buying anything, it’s important to take stock of your life, finances and lifestyle to make certain you find cover that suitable for you. Factoring in savings, loan repayments as well as any other outgoings you have will ensure you’re able to afford your monthly premiums, but more importantly, that you’ve chosen a level of cover that’s best suited to you. Consideration of your health and lifestyle is equally as important. If you’ve got a history of family illness, you might want to consider adding on critical illness cover. It’ll push-up your monthly premiums, but for the added level of cover it would provide, it’s for you to decide.
Put in the leg work
When it comes to getting online life insurance quotes, research is key. Not only to ensure you get a good quality policy but one that’s the most affordable too. Many think research on on comparison site qualifies as research, but this couldn’t be further from the truth. As revealed by Money Saving Expert (MSE), most comparison sites have deals with providers and so these can be cheaper, or more expensive depending on which one you visit. More importantly, comparison sites are known to whack up the commission on these policies. This means you’ll end up paying more for less cover. Sound unfair? We think so too. For quality yet, cheap life insurance quotes try a Discount broker. Offering the same selection as comparison sites but without the commission, consumer champion MSE hail these as the cheapest way to buy Life Insurance.
Stick to your guns
Once you’ve decided what level of cover’s right for you, stick to it and be strong. When doing a few quotes it’s all too easy to add an extra zeros and whilst we’re all for experimentation, buying more cover than you need will only result in a worse-off deal for you. Your monthly premiums will be higher, and if you were unable to pay this, it could invalidate the policy. Equally, don’t be tempted to skimp on your cover as a way to see your premiums fall. It’s important to remember why you’re getting this insurance. Cutting down your cover runs the risk of not having enough protection in place, making the entire exercise counter-intuitive. If you’re not happy with the premium quoted there’s a whole host of ways to get cheaper life insurance quotes. One of the easiest is buying through a commission-free broker, but for more tips take a look at this blog post.
Bite the bullet
So to summarise, consider your circumstance, do your research and stay focused. Following these steps will make buying Life Insurance online easy and relatively stress-free. Get your online Life Insurance quotes with discount broker Best Price FS.