6 reasons to use a life insurance broker

Oct 31

6 reasons to use a life insurance broker

Why use a broker to secure life cover? Won’t they add their fee onto the cost of the policy? Will they funnel me towards their preferred provider to maximise commission?

Actually the life insurance industry is heavily regulated in the UK by the Financial Conduct Authority (or FCA) and if you select the right broker, there are many benefits for us consumers.

1) Save money

Who wants to pay more than they have to on their monthly premiums?

If you decide to use a reputable life insurance broker, such as Reassured, you will never be charged a fee.

They will simply identify a number of suitable policies, based on your personal circumstances and available budget, however there is no obligation to take out a policy.

They will also make sure your cover matches your requirements, ensuring you are not paying more than you need to.

2) Expertise

Because life insurance brokers deal with these policies all day, every day, they naturally have extensive knowledge of this ever changing marketplace.

There are so many different options available, from impaired risk and family income benefit to life cover for smokers or those wanting critical illness cover – for many consumers this can become confusing.

Brokers who specialise in life insurance have experience in arranging comprehensive cover, specifically to meet your individual requirements. So take advantage of their knowledge and get the best cover available.

3) Speed of application

Have you ever tried filling out a life insurance application? The process can be very lengthy and pretty overwhelming in parts. There can also be questions which many of us, me included, don’t fully understand.

Why not let a broker do the hard work for you, over the phone? They can also help explain some of the jargon and what it actually means in layman’s terms. After all, there are better things to do in your spare time than fill in forms.

4) Choice of policy

Brokers are very aware of all the different insurance policies available, as well as the common issues applicants regularly experience.

This means they are best placed to identify multiple policies, that meet your budget and your specific needs – offering you a range of policy options.

5) Peace of mind

A good broker will ensure all your key questions are answered. They are also very aware of common pitfalls.

When it comes to making a claim they can also help you with the process if required, ensuring you have a single point of contact.

An independent and impartial brokerage, like Reassured, is not affiliated with particular providers and so there is never a conflict of interests.

6) For you, not the insurance provider

Remember, a life insurance broker works for you, the customer, and not the insurer. Work this to your advantage and make sure you secure the best possible life insurance cover to protect your family and loved ones.