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Life Insurance, best deals?

  • 09-01-2012 12:24am
    #1
    armstrongracer
    Registered Users, Registered Users 2 Posts: 127 ✭✭


    I'm looking at getting a life insurance policy, money is tight at the moment so I'm looking at the best deals. If I can avoid giving chunks of my hard earned to brokers it would be good.


Comments

  • #2
    Drumpot
    Registered Users, Registered Users 2 Posts: 19,306 ✭✭✭✭Drumpot


    armstrongracer wrote: »
    I'm looking at getting a life insurance policy, money is tight at the moment so I'm looking at the best deals. If I can avoid giving chunks of my hard earned to brokers it would be good.

    Most life assurance brokers (non tied agents) get commissions off the life companies. These are fees that are included in the cost of the cover whether you go directly to the life company or not.

    In many cases you will get superior objective advice along with a cheaper premium for the same cover. Most of the major life assurance companies dont undercut brokers. Going with a tied agent or directly to a financial institution isn't always the best idea. I know because I worked in several and I currently work in the industry. I personally consider my profession to be about being a consumer champion.

    I think in general there is a poor opinion of brokers for reasons I can't really understand. There are mainly good but also some bad ones that's no differant to any other industry. People actually trust banks for financial advice after everything that has happened and seldom do people come to me with good stories or With positive feedback on how they were advised by their bank (for example when taking out life cover for their mortgage!).

    If you want real advice phone a broker that comes recommended to you. If you want to simply get cheap life assurance and you know what you want google a cheap life assurance brokerage.


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