Cheap insurance is insurance you buy after you have done a proper comparison and the price is a good deal. Don't pay a huge amount of money just because it's cheap insurance.

About cheap insurance:

It's important that your cheap insurance policy does what it says. Example, if it provides a lifetime accidental death benefit, it must provide that at all times; otherwise, insurance is useless.

-You get to have affordable healthcare coverage. -You can leave policies of the other people after a couple of years because you can cancel and buy another insurance policy.

Pros of cheap insurance:

Comparing the cheap insurance policy rates by comparing some options and picking a particular insurance company that's providing the best coverage based on the specific budget can be a piece of cake.

If you've got the basics covered, you don't necessarily need their high-end option (as you can easily get away with generic cover from other providers that's cheaper to buy).

Cons of cheap insurance:

You'll have to submit a lot of paperwork to claim money from cheap insurance. It may also involve you paying for services. Also, there might be a higher deductible, & this may not be in your favor.

This can be useful if you're planning a holiday on cheap and don't really want to spend your money. You can get a travel insurance with high medical cover for a cheaper price. 

About cheap insurance:

One of the best ways to find cheap insurance policy is by using comparison websites. Interactive comparison table of insurances compares cost of a series of different cheap insurance policies online.