Life insurance: Buy online or via telephone?

Life insurance is something many of us don’t like to talk about. Whilst it’s not the easiest conversation, it’s important to ensure your family is financially secure if the worst were to happen. Not only does it offer you peace of mind that everything would be under control if you were no longer around, but it provides reassurance and protection for those you care about most.

Securing life insurance can feel daunting at times, especially given the number of policy options available and the importance of making the right choice for your loved ones’ financial future.

Speaking with an agent or broker can be a great place to start, especially if you require guidance. This way you can explore a variety of insurance companies and what they have to offer, as well as compare the best available quotes. But is securing life insurance online better than through a phone call?

Buying life insurance online VS over the phone

Buying life insurance online can be a quick and simple way to secure cover, simply with the click of a button. On the other hand, calling and speaking with an agent could be more efficient as you can have your questions answered if you’re unsure about the application process or what options are available.

You should consider buying life insurance online if:

• You know what policy you need. Having a clear vision of exactly what cover suits your needs can make the application process much smoother. Online you can secure policies such as level and decreasing life insurance which provide cover for a set period to help protect key costs such as a mortgage/rent and living expenses. By identifying the specific policy that aligns with your circumstances, you can explore quotes of personalized policies to fit you effectively.
• You’re in good health and don’t have any serious pre-existing medical conditions. You’re more likely to be accepted straight away if leading a healthy lifestyle. If you have a complex medical condition, applying online may not be as simple as insurers will need to ask you additional questions to assess your eligibility.
• You simply don’t have the time. Buying online can certainly be a quicker and more efficient way of securing cover. If you work or are occupied during daytime hours. Being able to apply from your device whenever it suits you can relieve the stress of trying to fit in a conversation with someone. Applying online means you’re only a few clicks away from instant quotes within a short period and without having to physically talk to anyone.

You can buy life insurance online via some comparison websites like uSwitch, however, some brokers such as Reassured also now provide a secure online service.

You should consider buying life insurance over the phone if:

• You’re unsure of what cover you need and want to explore your options. Agents are very knowledgeable and can offer valuable insights into various policy types, such as term life insurance, whole of life, and guaranteed over 50s life insurance. Additionally, some companies have specialized teams that can discuss your specific situation (i.e. perhaps you have been declined coverage in the past or have a pre-existing medical condition) and help you find the best policy options for you. Speaking about it can help you gather more information. You can take notes, reflect on the information provided, ask questions and even call back later if you need more clarification, ensuring you make an informed decision.
• If your application isn’t straightforward, reaching out to an agent over the phone can help you when completing an application as you may struggle to explain your medical condition and circumstances. The agent can ask questions to better understand your situation and could potentially offer additional options for applying over the phone as a non-standard (also known as impaired) applicant with specialist insurers that you wouldn’t find online.
• If you have questions surrounding life insurance, an agent can provide clear answers that you can easily understand. Instead of searching the internet for information, you can simply call a professional and get all the information you need.

Both online and speaking to an agent on the phone have their advantages and disadvantages. The important message here is to find the method that works best for you. Make sure to carry out lots of research beforehand to help you decide what policy you’d like to take out and remember there’s plenty of help out there.