Applications for life insurance are on the rise—here's what you should know before you buy

Life insurance applications have been>The difference between term and permanent policies

If you do feel you need life insurance, you should first understand the different policies available to you. There are two basic types: term and permanent. Whole life insurance is an example of a permanent policy.

Term life insurance covers you for a specific period of time, typically 10, 20 or 30 years. If you die while the policy is in place, you're covered.>What to keep in mind when buying life insurance

"There is a big difference between buying life insurance and being sold life insurance," Ginty says. "I recommend people educate themselves and then go shop for what they need."

Once you settle on what type of policy to get, decide how much life insurance you need to buy. Most standard policies range from $250,000 to $1 million. How much you need depends on how the money will be spent. Do you need the policy to help pay off any funeral costs? Your mortgage? If you're not sure, non-profit insurance information organization Life Happens offers several calculators that can help you figure out how much coverage you may need.

Some employers offer group life insurance as part of a benefits package. But those policies usually end when your job ends, so if you quit or are let go, you'll be left with zero coverage. That may be OK if you don't really need life insurance, but if you do, you may want to consider buying your own additional coverage. 

Keep in mind that the buying process may take some time, especially since some policies require you to get a physical or medical exam before you're approved. Typically, it takes about four to six weeks to get a traditional application approved, Adam Winslow, chief executive officer of life insurance at AIG Life & Retirement, tells CNBC Make It. For policies that don't require an exam, you can be approved (or denied) in as little as five days. 

During the pandemic, the application process has changed a bit, especially when buying a policy that requires a medical exam. Some insurers are extending deadlines, using previous doctor's visits or even sending a medical professional to your home. Other life insurance companies are expanding the number of policies that don't need an exam. 

Before starting an application for life insurance, it may be helpful to gather up some documents and information in advance. Most insurance companies will ask you for general information, such as your name, age and address, as well as personal questions about your height and weight, your history of smoking and/or drug use and any diseases or medical conditions that may run in your family. If you don't know this information, it may help to call your parents or a family member to ask. It's also likely that you'll be asked for your driver's license number to verify your recent driving record. If you've been in a lot of accidents, you may be considered more of a risk. 

When you're ready to start your application, it can pay to shop around and compare different policies and providers, Ginty says. Sites like Policygenius and LendingTree's QuoteWizard can help you compare your options. 

You should also work with someone who isn't an insurance salesperson or use a marketplace so you can ensure you're getting unbiased help and a plan that fits your needs. "I always tell clients that if you go to a Ford dealership, the salesperson is going to sell you a Ford ... they aren't going to say, ," Ginty says.