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So you’re looking for cheap life insurance and trawl through Google to
find loads of websites saying they offer “Huge Discounts”, “Massive
Savings” “Compare our prices” and “We guarantee to beat the rest” …and
so it goes on.
Great, I thought, let’s see what the competition has to
offer so I rooted around trying to find exactly what the huge
discounts, massive savings or guarantee amounted to.
What a shocker – out of over 30 websites visited I could
only find a couple that actually said how much of a reduction
was on offer and at that, didn’t explain how it was done. I even
found a site stating they offered a “50% discount” – 50% of what? I
wondered, but never found out as the detail couldn’t be found.
NOW HERE'S THE RUB
- WANT TO COMPARE PRICES ?
Sure you can, as long as you part with nearly all your
personal details before you get a bog standard quote and this
information is compulsory or you get no quote at all. Result -
loads of companies phoning or e-mailing you for days and days when all
you wanted was a quick quote.
It seems you cannot really shop around for life insurance
unless you are prepared to disclose information about yourself that
you would prefer to keep private and do not mind being bombarded with
unsolicited e-mails and phone calls.
Frankly this sort of business practice makes me sick –
if discount websites are not prepared to be up front and tell you how
much they are discounting then perhaps you should give them a body
swerve.
If you want to read how discounts are achieved then read
on…..if not, thanks for reading this far……. however the rest is
useful!
Life Insurance Company premium rates are more or less the
same for everyone.
If you went to 10 Financial Advisers looking for the same
type of policy then the quotes you would receive should be identical
for each insurance company.
FACT - The only way for Financial Advisers to reduce a premium
is to rebate commission – simple as that. The more commission
rebated, the lower the monthly premium becomes. |
