Life Insurance Quote UK
Avoiding the pitfalls to get a deal that’s not just good on paper.
When obtaining a life insurance quote UK customers need to carefully read the small print. Especially with bolt-on services such as critical illness cover, the breadth of exceptions and riders can increase, and therefore one policy is by no means the same as another.
When searching for a life insurance quote UK customers are advised to remember a few things about the way financial services work. Unfortunately this is a salutary lesson in sneaky marketing.
Life companies know three important things about us Brits. Firstly, we find financial services products pretty boring. Secondly, we don’t always understand them. And thirdly we hate reading small print. Now the days of pushy salesmen may be (almost) over, (indeed you have a statutory cooling off period on most products) but you can bet that the important bits of a life contract are in the small print.
For every life insurance quote UK buyers are presented with, there’s a set of riders: for example, if there’s a critical illness element, exactly what illnesses qualify for a payout? If it’s a whole of life policy, what type of bonuses can you expect? Are they reversionary, terminal? What choice of funds will your policy invest in? If it’s a term policy, is it convertible, and if so under what conditions? If all of that’s gobbledegook to you, then you don’t fully understand what you’re buying, and you shouldn’t sign on the dotted line (and you should see a financial adviser!)
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