FAQs

FAQ

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Get a quote for life insurance now and start protecting your family today!

The Cheapest Life Insurance is all about giving you the information you need to help you make the right decision. That’s why we’ve put together a list of FAQs that will answer all the questions you may have.

Should you have any further questions you can call us on; 0800 6800 205 or email us at: info@thecheapestlifeinsurance.co.uk. We are open from 9.30am until 7.30pm Monday to Friday and always willing to take your call!

Why buy life insurance?

There are two reasons for buying life insurance. Family protection and mortgage protection. By buying life insurance it means that should something happen to you your home and your family are safe and secure.

What’s the difference between Whole of Life and Term insurance?

Term Life Insurance is a policy where you pay a fixed monthly premium for a specific amount of cover over a specific term. (For example, 15 years). Should you die within this term then a cash lump sum may be paid out to any beneficiaries.

Whole of life Cover is where you pay a fixed premium for a specific amount of cover. However there is no specific term for the actual policy. A lump sum is usually paid out on your death to assist your loved ones with any expenses such as funeral or inheritance tax.

What’s the difference between Mortgage/Decreasing/Level life insurance?

Level Cover Insurance is a policy where the amount insured remains the same for the life of the policy, along with the premiums you pay. If you die during the term then a fixed lump sum may be paid out.

Decreasing cover and mortgage are the same thing. They are policies which cover a repayment mortgage over a specific term.

A lump sum that may be paid out, decreases as your mortgage will, over the duration of the term. Your premiums will also decrease, reflecting the reduced amount of cover.

How does the application work?

One telephone call is actually all that is required to get things started. We listen to your needs and take your details and one of our professional advisers will go through everything over the phone.

What if my application is complicated?

We aim to keep things as simple as possible here at The Cheapest Life Insurance so we’ll aim to gather all the information required from you and then make the application on your behalf. If for any reason your application is referred to underwriting then the leading insurer will handle things quickly and efficiently for you.

I don’t know which type of life insurance I require

It’s important to get the right kind of life insurance cover. That’s why The Cheapest Life Insurance takes time to explain what the different types of insurance covers offer.  That’s why we do not push you into buying anything. We give the facts and the cost to enable you to make an informed decision.

However, should you have questions then we are only ever a phone call away.

Who is life insurance for? Is it for anyone?

There may be certain insurance types that are not suitable to you and your personal circumstances (usually related to risks). Life insurance may also not be the right choice for certain people.

I’m not sure if my medical condition is relevant

When it comes to disclosing of information it’s really important to make sure you tell us everything. What can seem like an insignificant detail now could be important later.  Should you not disclose something then your insurance may be declined or in the event of a claim may be refused.

It’s nothing to worry about of course, but it’s always best to make sure you reveal any pre-existing medical condition.