Bright Grey

Soldierearth54

Hi,

My financial advisor has suggested a menu plan product with Bright Grey which consists of life cover, income cover & critical illness cover.

I was wondering if anyone had any dealings with Bright Grey and whether you would recommend them or not?

Thanks,

nidO

I have a policy with them (at the time I took it out my FA also recommended them and had a breakdown of the commission offered by various providers in which Bright Grey were somewhere in the middle, to show they weren't just suggesting the provider most beneficial to themselves) but I haven't as yet died, so can't say what their service is actually like when it's needed i'm afraid.

Soldierearth54

nidO wrote: »

I have a policy with them (at the time I took it out my FA also recommended them and had a breakdown of the commission offered by various providers in which Bright Grey were somewhere in the middle, to show they weren't just suggesting the provider most beneficial to themselves) but I haven't as yet died, so can't say what their service is actually like when it's needed i'm afraid.

Lol - thanks

dunstonh

Bright Grey are one of the biggest players in life assurance. About to be rebranded under the parent company, Royal London. Wont make any difference though. Just logo.

kingstreet

Five star DEFAQTO critical illness cover, four star income protection.

Very good "Helping Hand" service.

Premiums towards the least expensive. Watch out you are getting "Menu Protection Plan" and not the budget "Lifestyle Protection."

Good claim payout stats.

As dunston said, member of Royal London group. I'd be happy to have my cover with them.

Soldierearth54

kingstreet wrote: »

Five star DEFAQTO critical illness cover, four star income protection.

Very good "Helping Hand" service.

Premiums towards the least expensive. Watch out you are getting "Menu Protection Plan" and not the budget "Lifestyle Protection."

Good claim payout stats.

As dunston said, member of Royal London group. I'd be happy to have my cover with them.

Thanks - have queried which plan it is with FA as the quote doesn't confirm.

Soldierearth54

Is it advisable to take out both life cover and life/critical illness cover?

we both have death in service payments at work with my partners being better. For this reason I had the quote re-worked to reduce her life cover from £200,000 to £30,000 to fit with our monthly budget

weighty1_2

mickp67 wrote: »

Is it advisable to take out both life cover and life/critical illness cover?

we both have death in service payments at work with my partners being better. For this reason I had the quote re-worked to reduce her life cover from £200,000 to £30,000 to fit with our monthly budget

Take out cover for the needs which you have. The risk of being ill long term is significantly higher than that of dying so considering either critical illness or a long term income protection plan would be a wise thing to do based on the odds of what is most likely to happen.

In regards to the death in service, what happens if you/your wife changes employer or gets made redundant? You could easily find yourself in a situation where you are left without adequate cover. Since you don't pay for the death in service cover I personally would see if as a bonus payout but would want to cover myself separately knowing that a personal plan would be with me irrespective of where and whether I was working.

ACG

I quite like Bright Grey, you get a few extras built into the price which your broker should have discussed with you?

http://www.brightadviser.co.uk/helpinghand/

Effectively you dont have to die to be able to get support from them.