Purchasing a life insurance policy is an important step for anyone, but it is particularly vital if you have a family. Taking out a solid life insurance policy means you are taking steps to keep your family financially secure in the event of your death.

With the decision to purchase life insurance comes many other choices; the amount of coverage you wish to purchase, the type of policy you want, how long you want to be covered for… the list goes on.

At Cuuver.com, you can compare life insurance policies from some of the UK’s leading insurance providers. We understand the stress that can come with this decision, so here are some pointers to help you make the choice that is best for your circumstances.

Compare similar policies

There are a variety of policies available in the world of life insurance, each offering different benefits and terms. When you are comparing policy from various insurance providers, make sure you’re comparing products which are similar to each other. If you compare widely varying options, this will not provide you with a fair and balanced view of the policies and could result in you purchasing an option which may seem like the best, but is in reality only the best out of the random mix you looked at.

Use your “free look” period

Most insurance providers will include a free look period when you take out a policy. During this period, you will have a few days to change your policy, or cancel it altogether if you wish. If you decide the policy you selected isn’t right for you, the free look period is the time to say so.

Understand the primary function of life insurance

Life insurance policies are there to take care of your beneficiaries, financially, once you die. While they are one of the most worthwhile investments a person could make, you should not see them as things you should be borrowing against during your lifetime – this will mean less of a payout to your beneficiaries. Instead, look for policies that are affordable and offer the best benefits, not the ones that make it easier to borrow from.

Look for the policy riders

Policy riders allow you to customise your policy to suit your individual circumstances. If you have any special needs from your life insurance policy, be sure to look into which ones offer the best riders.

This should not be construed as financial or medical advice and is for informational purposes only.