Arranging cover

Once you understand the basics and you’re confident you know what you need, it’s easy to buy online.

What should I look for in a policy?

You’ll find lots of providers online, including comparison sites. But don’t just buy the first policy you see. Make sure to look at:

  • What they’re actually offering – check which parts of the policy are relevant to you, as you don’t want to pay for cover you don’t need, but you do want to be sure it will do what you expect it to.
  • What they say in the small print – the little details of the policy can make a big difference.
  • What their service is like – how easy is it to make a claim, and can you find any customer reviews of their service?

Can I get any help making a decision?

If you’re not 100% sure about what you need, you might want to get some advice. Experts and financial advisers can help you understand your needs and then find a policy to match. Remember, they’ll probably charge you for their service so make sure to check how much you’ll pay.

You’ll find plenty of insurers also offer online tools and calculators to help you work out how much cover you might need.

Is it true what they say?

There are plenty of myths about life insurance. It’s time to debunk them!

'I can’t afford it'
Put some basic information into a price comparison site and you’ll probably be pleasantly surprised. Life insurance isn’t as expensive as you might think. And the younger you are when you take out cover, the cheaper it will be.

'The state will take care of me’
State benefits aren’t as generous as you might think and can be complex to arrange. Currently, statutory sick pay is £88.45 per week (figures correct as at September 2015) although exactly what you might get will depend on your personal circumstances. Would your loved ones be able to pay the mortgage and the bills with that?

'I’ll never need it'
With all types of insurance we tend to think that we won’t ever need to make a claim. Yet sadly thousands of families every year claim on their life insurance. Once you have cover in place, you can relax knowing that the safety net is there should your family ever need it.

'Insurance companies never pay out'
According the latest Association of British Insurers report, 97% of protection claims were paid out. For the remaining 3%, the most likely reason they didn’t pay out is because the policyholder didn’t provide correct information when they took out their policy.