Life Insurance Providers??

zoe_lou

Hi, I am looking for Mortgage Life Insurance however I have come across a number of 'discount brokers' along with the usual providers e.g. Legal & General, Norwich Union, Tesco etc.

I wondered if the 'discount brokers' offer inferior service due the the lower premiums and was just looking to see if anyone had experiece of dealing with any of them, and could recommend a reliable one if possible?

Thanks

dunstonh

I wondered if the 'discount brokers' offer inferior service due the the lower premiums

Discount brokers are mostly IFAs or whole of market protection advisers with a website. The transaction gives you less protection under the FOS as you are basically taking on the role of the adviser. So, you will not get advice on product, provider, features, options or trusts.

If you can do that yourself, you get it cheaper. If you cant do it yourself and make a pigs ear of it then it can cost you a lot more. e.g. not using trusts or picking yearly renewable term or reviewable premiums instead of guaranteed or picking one that cannot be amended when that may be required.

So, its not a drop in service as far as the life cover goes. Just a reduction in the suitability advice and reduced liability to the FOS.

zoe_lou

Thanks for your help.

I pretty much know what I need, its just a case of checking I wasnt going to end up with more problems using discount brokers, as opposed to going direct.

I have found Cavendish on this site who charge a small fee to process my application, has anyone got experience of dealing with them? They seem to be the cheapest on all the quotes I did, am I missing something?? Look like a good deal to me?