How to buy life insurance?

Are you interested in buying life insurance to secure you and your family’s future? If yes, then the first question on your mind will probably be, “How do I buy an insurance policy?”

Here’s your answer:

How much will you need?
When buying life insurance, the first thing to consider is the required amount that would cover your family’s financial needs after your death or the level of coverage you need. Tally up all your debts (e.g., student loans, mortgage, or car payments) and any future expenses (e.g., your end-of-life expenses or your child’s college tuition or wedding) to get a sense of how much coverage you need. Your death benefit should cover the entire value of the amount you will arrive at. Alternatively, you could pick a coverage amount that is 10-15 times your annual income.

Term or permanent?
There are two types of life insurance policies you can buy: term and permanent. When you are young and cannot afford permanent life insurance to last you your whole life, you can go with term insurance for, say, 20 years. Term insurance is much simpler to qualify for, and it is cheaper. Permanent insurance, on the other hand, lasts you your whole life. 

Note: Never go for the first offer that you get. Life insurance is a long-term commitment. Shop around and compare more options, so you can be sure you have made the right choice.  




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Registered office, Springfield House, Laurel Hill Business Park, Stirling, FK7 9JQ.

The 15 Minute Life Insurance Service provides policies underwritten by AIG Life, which include access to Smart Health services which are provided by Teladoc Health
We want to let you know that these services are non-contractual, which means they don’t form part of your insurance contract with us. If our partnership with Teladoc Health ends, the service can be withdrawn at any time without notice. Please note the maximum cover across all AIG Instant Life Insurance policies is £600,000 if aged 17 – 45 or £350,000 if aged 46 to 55.

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