Can Anyone Recommend Someone...?

Mr_helpful · 3 May 2007 at 11:13AM

kenshaz wrote: »

Which comparable companies?

Thats one good reason to use a broker Toonfish knows and you dont

kenshaz · 3 May 2007 at 11:30AM

toonfish wrote: »

I'm not allowed to make a recommendation, and wouldn't be able to do so anyway without assessing the client's needs.

Not asking for recommendations,just the data that you used in your comparison,which is not individual related,just facts to help others understand the products and make informed decisions.

kenshaz · 3 May 2007 at 11:37AM

dunstonh wrote: »

Its different to car insurance in that the car insurance generally has 3 levels of cover. The rest of the addons are features which are not the end of the world if you dont have.

With ASU/income protection, there is no standard. Different companies have different exclusions and different ways on how they treat different illness' and disability. Plus when it comes to income protection, that can straddle both investment class authorisation and protection class. Most of these websites only hold protection class so wont show investment class versions. The quote portal coverage for PHI is also very weak. PHI being underwritten requires more work and it isnt a very profitable product. Plus there are loads of differences there between the plans. So, the websites tend to leave that off their quote portals.

It isnt just one individual. It is an area of concern in the industry at the moment that too many people think that an ASU is an income protection policy when what they really need is a PHI. It's only when they come to claim that they find out there is a difference.

Yes but people buying a holiday to spain know they are going to end up in Spain. Do you go ASU, general insurance version of income protection, Protection class PHI or investment class PHI? budget, standard or comprehensive (noting that the budget options do not market themselves as budget versions but appear in the same pricing charts as the comprehensive)? Disability definitions different?

If the original poster needs options, then there are about 30 providers/plans that dont appear on your list from moneysupermarket that I would class as much better than those on there.

I am sure that all that you state is correct,but this is a consumer site and you are using a great deal of abbreviations and confusing jargon.

I personally find all that you state valid ,but would others?

I comment from a positive and constructive stance.

MortgageMamma · 3 May 2007 at 11:41AM

Kenshazyou will normally find the following providers in the comparisonsBright Grey, Bupa, Standard Life, Scottish Provident, Legal and General, Liverpool and Victoria, amongst othersIf you want to go away and read through the key facts and product details for the PHI policies of all these providers, draw up a comparison and tell us which is the best one based on levels of cover, price, claims payout and medical underwriting criteria then you might get an idea what the role of a qualified adviser actually is and why we earn quite literally every penny we make through sheer hard work

dunstonh · 3 May 2007 at 12:18PM

I am sure that all that you state is correct,but this is a consumer site and you are using a great deal of abbreviations and confusing jargon.

It may be a consumer site but it isnt one that promotes being doing things wrong just to save money. If the person reading the jargon doesnt understand the comments (and there really isnt much jargon there at all) then they should consider if DIY is the best option.

Not asking for recommendations,just the data that you used in your comparison,which is not individual related,just facts to help others understand the products and make informed decisions.

We pay good money each month for software that aids us with research. It can highlight all the differences between the providers quickly and cleanly. I don't see why we should pay for it and publish it here free especially when we dont know what the OP wants from the policy. (so dont know what options to filter in or out).

If you want cheap, you get cheap. This site isnt about cheap its about value for money. There are different distribution channels available to deal with all sorts of consumers but we shouldnt push people down the direct route every time as it can cost them more if they don't know what they are doing.

It wouldnt cost me a penny to service my car. I really havent got a clue what I would be doing but its cheaper... in the short term.

toonfish · 3 May 2007 at 1:11PM

kenshaz wrote: »

Not asking for recommendations,just the data that you used in your comparison,which is not individual related,just facts to help others understand the products and make informed decisions.

Well, I can guarantee that any company I would recommend would at least offer the policies in question for a start. It is evident that there is nowhere near enough information about age, income, employed or self employed, company sick policy, health condition, sex, required level of cover, amount and term of mortgage, eligibility for state benefits and so forth for even a "stab in the dark".

But hey, Tesco's are probably the cheapest.

Mr_helpful · 3 May 2007 at 2:59PM

toonfish wrote: »

Originally Posted by kenshaz
Not asking for recommendations,just the data that you used in your comparison,which is not individual related,just facts to help others understand the products and make informed decisions.

Well, I can guarantee that any company I would recommend would at least offer the policies in question for a start. It is evident that there is nowhere near enough information about age, income, employed or self employed, company sick policy, health condition, sex, required level of cover, amount and term of mortgage, eligibility for state benefits and so forth for even a "stab in the dark".

But hey, Tesco's are probably the cheapest.

Good post Toonfish but it appears that some people have no idea of the work we do when we give advice.

dunstonh · 3 May 2007 at 5:56PM

I dont think they realise as well that advisers can beat some of these direct providers.

For example, ASU plans most of us here will have access to providers with 3-6 months of free cover. Didnt see any of those providers in the list. House insurance; as many of the advisers using Source as their portal will tell you, the pricing on that can be excellent at times and beat companies like Direct Line and the supermarkets. In the pensions section, you often see HL promoted. Yet IFAs can undercut HLs pension.

With investments, the cost of advice can be covered within one week's performance. So, don't rule out the advisers. Remember a lot of these internet sites are advisers but with their internet face on rather than their home service face.

Mr_helpful · 4 May 2007 at 11:33AM

You IFA's also have tjhe advantage of some interesting income protection products from providers like Pioneer which can give day one cover to high risk occupations and smokers at very good prices.

Can Anyone Recommend Someone...?

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