We are often asked how one goes about choosing the best UK life insurance products. Going to every insurance firm in town is not an option. Everyone is short of spare time. No one wants to waste precious hours going up and down the High Street visiting the various life insurance companies and then make a mistake buying cheap life cover which does not live up to its promises. Here are five tips for finding the best product.
Compare, compare, compare You have heard the expression “location, location, location” when it comes to investing in real estate. Well, the counterpart in life assurance is “compare, compare, compare”. Find a neutral life insurance broker that can get you comparative insurance quotes quickly and accurately.
Understand the product Ask the broker or insurance service provider to explain the difference between the various products. Do not confuse whole life insurance with term life assurance, for instance. The difference between these two can make a huge difference in the event of a payout.
Think more broadly than insurance on life While the core of your insurance portfolio will probably be whole life or term life, do not stop at that. Take a good hard look at critical illness cover, income protection and even unemployment cover. There will be products suitable to your budget. Let your insurance information provider get you comparative quotes from every life insurance house on these.
Take the time to examine your life insurance quotes Do not allow yourself to be dragooned into making a decision about your life insurance investment. Once you have received your quotes, take your time to examine them and compare the offers from the various insurance firms. Yes, there will be small print. Even if you have to get a magnifying glass, read and understand it.
Don’t avoid discount life insurance Discount life insurance is not inferior life insurance. The way it works is that the large life houses attract such vast amounts of businesses that they are able to spread there risk and offered discount life deals. You can find out about low cost life insurance by calling a reputable insurance broker.