Life Search - is it worth it?

w00519772

I had a look at Critical Illness and Income Protection quotes online. I was then called by LifeSearch ([FONT=&quot]www.lifesearch.co.uk[/FONT]) who provided some quotes.

What is the benefit of using a middleman like LifeSearch? They obviously have charges. Is it better just to go direct to the company you are buying the policy from?

besti

See what price they come back with. If they can get you a better like for like quote go with them. Critical illness and Income protection should not be bought on price alone. The cheapest cover may not be the best and you would be very unhappy if a company didn't pay out when you got cancer because you'd saved yourself £2 per month.

dunstonh

What is the benefit of using a middleman like LifeSearch?

There is always a middle man. Whether it be a comparison site (who is the middle man) or a mortgage adviser, insurance agent or financial adviser. Although with face to face advice the cost will be higher as you are paying for the cost of advice and suitability and greater consumer protection (in case it turns out to be wrong).

Is it better just to go direct to the company you are buying the policy from?

Going direct to insurer allows the insurer to act as the middle man and the provider and earn more from you. Its not uncommon for direct applications to be the most expensive option as it lacks the distribution economies of scale that the others have.