A cheaper life insurance policy may provide valid cover, but the price does not reveal everything about its protection. Check the policy’s sum assured, term, exclusions, premium arrangement and whether it is level-term or decreasing-term cover; critical illness cover is not usually included unless stated. Cover normally depends on the insurer accepting your application, premiums being paid and the information you provided being accurate. Read the policy documents carefully and check any questions with an FCA-authorised provider before buying.