Life Assurance quote comparison VS direct

Slinker_2

Just had a few quotes online via the meerkat site and a couple of others and have found that its often cheaper than actually going direct to the company for the same policy? Is this usually the case or is the policy different? i cant really see any difference.... Just thinking ill go via the website rather than direct if its the same policy.
Anyone else have this before?

dunstonh

have found that its often cheaper than actually going direct to the company for the same policy? Is this usually the case or is the policy different?

Comparison sites dont offer much of a saving over using an IFA. Direct to provider rarely offers much of a saving. Cheapest is usually obtained by using an exection only IFA.

Dont assume the product offered direct (or via supermarkets or similar) is the same as the whole of market product. There have been times when the product is cut down from the IFA version or is a different version (reviewable premiums instead of guarnateed for example on life assurance or reduced fund range on pensions etc)

property.advert

Go direct and they lick their lips and keep the commission they would otherwise pay out to an introducer. Go via someone like Cavendish and they rebate the commission off the monthly premium saving you loads.

Phone L&G up for instance and ask them direct. I did. You pay L&G, you pay Cavendish £35 or so and perhaps, behind the scenes, Cavendish gets a bonus for putting business their way but the price you pay, direct the the product provider, is way less than you could obtain going direct.

If you want your "free" cuddly toy, just understand that comparison sites also pocket huge commissions and give you back a fiver or so to make you think you are in better shape. They are the con merchants of the 21st century.

Slinker_2

Thanks for the replies i might go ahead and try this Cavendish site.
I will go over the conditions of insurance with a fine comb to make sure everything is the same !

chewback

If its pure life insurance, if you are dead it pays. Simples

dunstonh

chewback wrote: »

If its pure life insurance, if you are dead it pays. Simples

Correct. That is one of the criteria (and the major one) for paying out. However, it is not the only consideration when buying.

ACG

Might come across biased here but the advice you will get from an advisor on life insurance could make the world of difference at claim stage.

Depending on how much cover were talking if it passes of the IHT threshold you could save yourself (or atleast the beneficiaries) a whole load of problems and many thousands of pounds.

There are also so many variables with life insurance that there could be a reason why theyre doing it cheaper (it could be stripped down versions of cover, it could be reviewable premiums, there could be no Waiver included, the list goes on).

dwsjarcmcd

property.advert wrote: »

If you want your "free" cuddly toy, just understand that comparison sites also pocket huge commissions and give you back a fiver or so to make you think you are in better shape. They are the con merchants of the 21st century.

Everyone pockets 'huge' commissions on Life Assurance, try Banks and Building Societies for really loaded prices. Price comparison site do at least rebate some of the commission within the premium.

Out of interest, why are they the 'con merchants of the 21st century?'

matthew111

I think it is better to go direct to the company.You can save the agents fees. I like the idea of trying the Cavendish site. I will try it too.

dunstonh

I think it is better to go direct to the company.You can save the agents fees.

Except you dont. You replace one agent with another.

I like the idea of trying the Cavendish site.

Who happen to be an agent and will be cheaper than going direct.