What is a life insurance broker?
A life insurance broker compares life insurance quotes from a range of insurers on your behalf.
You can use the expertise of a broker to help you find the most affordable, suitable and valid life cover.
At Reassured, we don’t charge a fee for our award-winning FCA registered broker service – get in touch today.
What does a life insurance broker do?
Not only do we compare quotes to find you the best deal, but we’ll also guide you through the entire process.
A broker assists in every step of the application and can answer any questions you may have.
Below, we’ve listed 9 ‘excellent’ reasons why we believe using a life insurance broker can help you find the perfect policy.
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Save money
We all like to get what we pay for, or better still, get a really good deal.
But, is insurance cheaper through a broker?
Life insurance brokers search the market on your behalf, helping secure the most suitable cover, at the best price, saving you money.
At Reassured, we don’t charge a fee for our award-winning service and there’s no obligation to take out a policy after enquiring.
You may wonder if we don’t charge a fee, how do life insurance brokers get paid?
Life insurance providers will pay commission to a broker on the sales they make on their behalf.
This is why insurers would rather that you went directly to them and they may encourage this by offering a free welcome gift.
However, you could miss out on the very best deals by going direct.
Always compare quotes as the cost of premiums can vary significantly for the same level of cover.
Ease of use
It’s not just banks and building society’s that sell life insurance these days with many retailers now offering policies too.
This can be quite daunting when you research the market and are presented with hundreds of options.
Going directly to your bank, mortgage provider or supermarket won’t guarantee cheaper premiums either, (as their offering can be limited).
A life insurance broker is able to do all the hard work for you, comparing different policy types from a wide range of insurers.
This enables us to refine your search, allowing you to focus on the policies that best meet the needs of you and your loved ones’.
Jargon explained
Do you know the difference between level and decreasing term insurance? What about life assurance and life insurance?
Understanding exactly what your options are is vital, not only for peace of mind but to make sure your policy is valid (and therefore pays out!)
Using a broker means you can speak to a real person who can demystify the insurance jargon.
Helping make everything a little clearer than perhaps with an online comparison site.
At Reassured we’re classed as a non-advised brokerage.
This means we don’t provide life insurance advice or advise on which specific policy you should secure, (placing you in control of the decision).
What we’ll do is use the personal information you provide, to identify a number of suitable options, allowing you to make an informed decision.
You can also take advantage of our experienced team to help explain any terminology you don’t understand.
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Provide information
A good broker can provide you with a clear understanding of how different life insurance policies work.
From explaining the process of taking out a policy, to paying premiums and how to make a claim, we have the knowledge required to support you.
Unless you work in the industry, it’s unlikely you’ll be familiar with all the ins and outs of life cover, so this support can be really helpful.
We offer a dedicated, free customer service team to help you with such tasks as writing your life insurance in trust.
Did you know writing your policy in trust can help you avoid/minimise 40% inheritance tax? You can also avoid probate for a faster pay out?
Save time
Whether you’re a stay-at-home parent, work full-time or are retired, your time is precious.
When did you last have free time to sit down and fill out a lengthy application form?
(That’s if you don’t make a mistake and have to start again!) – Can’t remember? Me neither…
We can complete the life insurance application for you over the phone, leaving you more time to do the things you enjoy.
Peace of mind
When taking out life insurance to protect your loved ones and their home you’ll want complete peace of mind that you’ve set up your policy properly.
A good broker will ensure all your key questions are answered and that you feel 100% confident in your policy.
From experience, we’re aware of the common pitfalls and will ask appropriate questions to ensure we’re quoting you for the right product and that your cover is suitable and valid.
This provides peace of mind that your family is fully protected if you’re no longer around to take care of them financially.
Hassle-free claims
If your loved ones need to claim on your life insurance, a broker can help and deal with your insurer directly, making the process as simple as possible.
At a time when your loved ones are suffering emotionally, having the support of a broker like Reassured to help you through the claims process is one less thing to worry about.
Financial Conduct Authority (FCA)
Being a financial company, a credible insurance broker should be represented by the Financial Conduct Authority (FCA).
This means that if the broker or your insurer cease trading, you won’t lose out financially and would be protected.
We’re proud to be registered with the FCA here at Reassured.
A broker works for you, (not the insurer)
Remember, a life insurance broker works for you, the customer, not the insurer.
You may be wondering how much insurance brokers make? Well, it depends on the policy and the insurer.
At Reassured, we make money by earning a commission directly from the insurer.
The important bit for our customers is that we never charge a fee for our service. (Although, some brokers do charge).
We believe a good life insurance broker should represent your best interests and be focused on your needs.
Bear this in mind whilst speaking with your broker; they’re providing a service for you.
Is it better to use an insurance broker?
Whether it’s better to use a life insurance broker, will depend on your personal circumstances.
But, buying life insurance is very different to other types of insurance, such as car, pet or home…
It’s much more personal.
And so, using an online automated comparison site, just might not cut it.
Even more so if you’re unsure of what level of cover or type of cover you need.
This is where the expertise of a life insurance broker, such as Reassured, is really valuable.
Why choose Reassured as your life insurance broker?
- Our broker service is totally free of charge and without obligation
- Now the UK’s largest life insurance brokerage
- We’re independent and don’t have preferred insurers
- Award-winning, FCA registered service
- 29,000+ customers on Trustpilot rate us as ‘Excellent‘ 9.6 / 10.
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