Cheap life insurance typically offers basic coverage at a lower premium, making it accessible for many. It usually involves term life policies, which pay out a lump sum if you pass away within a set period. Before purchasing, consider the coverage amount, policy terms, and any exclusions that may apply. It's wise to compare different providers and read the fine print. You may also want to consult with a financial adviser or an FCA-authorised provider to ensure you choose a policy that meets your needs.