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Since 2006 we have helped 339,601 people compare Protection Insurance quotes.
We would love to do the same for you...

3 classic mistakes made by many of those seeking out life insurance

The fact that you are reading this indicates that you already appreciate how invaluable a life insurance policy could be for protecting your loved ones from financial hardship. Such a policy works by providing a one-off, tax-free lump sum in the event of your death.

But of course, the above is not the only thing you need to know about life insurance if you are serious about purchasing a policy. That’s why we make available a free advice line, staffed by UK-based experts, to help you if there’s anything you’re unsure about.

For this blog post, though, we thought we’d spotlight just three of the many mistakes that people can make in their search for a life insurance policy - all the more reason to get in touch with us if you are uncertain about the most suitable next steps.

Failing to understand ‘low-start’ policies

As the term suggests, a ‘low-start’ life insurance policy is one that starts out cheap, but which then has increasingly expensive premiums over the course of the policy term. This could mean that if you purchase such a policy without paying close attention to the fine print, you might be shocked by how much you end up paying later.

‘Low-start’ life insurance isn’t necessarily bad. Some people, such as those looking to quit smoking or lose weight, often purchase them so that they can enjoy the cheaper premiums in the beginning, and then switch to more reasonably priced level term insurance once they have shed the pounds or kicked their cigarette habit.

But with these policies (naturally) tending to appear as the cheapest options on price comparison sites, it’s crucial to avoid being seduced by them if they aren’t the right overall plan for you.

Waiting too long to seek out a life insurance policy

It’s understandable that most of us don’t tend to spend much time thinking about our mortality when in our twenties. But there’s also no question that the best time to buy a life insurance policy is when you are long, healthy and at the lowest risk of dying.

For those who are considering starting a family, already have children, own a home or are living with their partner, it is highly advisable to seek out life insurance as soon as possible.

There’s no getting away from the reality that as time goes on, the quotes you are given for life insurance will go up. After all, the older you are, the greater the risk is of your health deteriorating.

It is therefore recommended that those considering a life insurance policy do so at an early stage, so that they don’t have to worry in future about being charged higher premiums in the event of putting on weight or being diagnosed with a health condition.

Lying during their application for life insurance

This is easily one of the worst mistakes that people make once they have decided on a life insurance policy. And it would be a great shame if you were to find the ideal such policy for your requirements, only to then effectively deny your loved ones a payout at some point down the line, due to being economical with the truth on the application form.

Honesty, then, is absolutely crucial, even when it comes to the information requested on the application form that you might not think is relevant. The fact is, if it’s asked for on the application form, the insurer will almost certainly consider it relevant.

That means you should be declaring all the necessary details about yourself, including your lifestyle and any career-compromising medical conditions you might have had in the past, as well as about whatever medical conditions you may have now.

Sure, being truthful about such things may bump up your premiums in the ‘here and now’. But at least you will have the peace of mind of knowing your dependents will be able to make a successful claim on the policy, when the time comes.

Are you ready to start your own search for the life insurance policy that would best suit your circumstances and needs? If so, simply call our team at QuoteLifeCover today, on 0800 316 6917, for free no-obligation advice that will help you get to grips with everything you need to know about life insurance and other protection insurance.

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We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Get Insured within 20 Minutes

It is possible to be protected with a life insurance or critical illness policy within 20 minutes provided the insurer does not require a GP report or medical.

A GP report or medical is normally required for large amounts of cover (over £400,000), or if your BMI is over 30, or you have any significant ongoing or past medical issues, or if you are involved in dangerous job or high risk hobby.

Calculate Your Cover

Find out how much cover you might need by using our simple online calculator. It will take into account your outstanding mortgage, any loans or credit cards, your monthly income and how many children you have.

Ultimately the right amount of cover is often a balance between what might be an ideal figure and what you can sensibly afford.

Calculate your cover here

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Read What Our Customers Think of Us

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All my questions were answered, as I know little on how life cover, critical illness and terminal insurance policies work.

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- Denise

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No nonsense, no jargon, just clear and informative guidance. Very quick with results which did not disappoint. Delighted with my deal which was a third cheaper than my own bank offered me and I didn’t do any of the legwork. More than happy to recommend.

- Ms Shannon

I found the customer service representative very polite and informative and helpful.

I wished some information on life insurance for a mortgage I have applied for.

All in all the process was very useful and informative and the representative was very helpful and polite. I would recommend this online service to anyone who is looking for life cover.

- Mrs Severn

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I was impressed by the quality of service by the advisor who dealt with my request. He has carefully listened to my requirements, asked a few relevant questions and has provided me with the option which suited my needs in the best possible way. I have really admired his flexible approach and fantastic customer skills.

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I received a call as promised in my email. Marie Bedding was very knowledgeable in her subject matter, she took some basic details and was very polite and courteous in her manner.

Marie was very sensitive when discussing personal circumstances and listened carefully and showed compassion to my details. Marie then said ‘leave it with me and ill get back to you’, within 20 minutes Marie was back on the phone with the quotes as promised and gave me a selection of options to chose from.

Marie did not pressure me with the ‘Hard Sell’, I needed time to discuss the options with my partner, Marie kindly emailed me all the details and left it in my hands to contact her once I had made a decision and if I would like to go ahead with the policy.

I cannot fault this service and the professionalism I received.

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The quotation service is provided by an FCA-authorised insurance specialist

Promoted Premiums for 35 year old male (non-smoker) on a 25 year term - September 2022*
Life Insurance: £5/month = £65,371 sum insured
Critical Illness Cover: £10/month = £27,546 sum insured
Combined Life & Critical Illness Cover: £10/month = £25,230 sum insured

 

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