Choosing a life assurance policy because it is the cheapest one you could find is not always a wise decision. Life assurance will pay out an agreed lump sum to your beneficiary upon your death. Depending on your current life situation, these requirements will vary drastically. The most important two questions you need to ask yourself are:
1) How much can I afford every month?
2) What kind of benefit will be required by my loved ones upon my passing?
Simply choosing the cheapest life assurance policy with insufficient benefit may leave your loved ones with very little in the event of your unforeseen passing. On the other side of the coin, choosing a policy that has tremendous benefits, but that you can't really afford from month to month will leave you and your loved ones with a financial burden. It is normally recommended that life assurance options be discussed with your financial advisor or estate planner before purchasing a life assurance product.