20:51
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Author: Premium Hunter
Buying a property for the first time is scary; So many things to sort out and the excitement of finally having a property of your own. However...
This is where you need to be careful.....
Yes...You've been accepted for a mortgage through an advisor or maybe your bank and no doubt they've been very helpful in 'pointing' you in the right direction for things like life insurance or home insurance.
In fact they will likely have told you that you have to have a life insurance policy in place before contracts are exchanged, and yes it's easy and convenient to let your adviser find you a policy or maybe your bank has their own policies available (they usually do).
This is where you need to be head strong....
If you buy your life insurance through a Bank, Financial Advisor/Mortgage Advisor or even the Insurer direct etc you are very likely to be paying a good deal more than you need to!
Why wouldn't my Bank or Mortgage Advisor give me the best deal...
Because they are often tied to certain insurers and at specific rates, which means you don't get the options you should be given or a price which is market competitive. They rely heavily on customers not shopping around and taking the easy option of just letting the bank or adviser sort a policy out for them (Millions of people do this!)
What are the consequences of not shopping around...
Life Insurance and Critical Illness policies are long term protection policies, lasting often for decades and they are incredibly important to have. However, if you choose the wrong one you could pay literally thousands of pounds more than you could have done for exactly the same policy, had you shopped around or used a website like premiumhunter.co.uk.
What can I do now I've found out I got a bad deal....
Find a new policy! These days it's pretty rare that you will be tied in to a life insurance policy and even if you are it's normally only for the first year or two (check your paperwork). So you are free to shop around the thousands of websites offering you various deals, cash back, nectar points etc
Or...
Get in touch with Premium Hunter today, tell us what you need and we will do this for you - We will search the best deals and find life insurance brokers offering deals you may be interested in, deals that match your requirements. Saving you time and money.
Buying a property for the first time is scary; So many things to sort out and the excitement of finally having a property of your own. However...
This is where you need to be careful.....
Yes...You've been accepted for a mortgage through an advisor or maybe your bank and no doubt they've been very helpful in 'pointing' you in the right direction for things like life insurance or home insurance.
In fact they will likely have told you that you have to have a life insurance policy in place before contracts are exchanged, and yes it's easy and convenient to let your adviser find you a policy or maybe your bank has their own policies available (they usually do).
This is where you need to be head strong....
If you buy your life insurance through a Bank, Financial Advisor/Mortgage Advisor or even the Insurer direct etc you are very likely to be paying a good deal more than you need to!
Why wouldn't my Bank or Mortgage Advisor give me the best deal...
Because they are often tied to certain insurers and at specific rates, which means you don't get the options you should be given or a price which is market competitive. They rely heavily on customers not shopping around and taking the easy option of just letting the bank or adviser sort a policy out for them (Millions of people do this!)
What are the consequences of not shopping around...
Life Insurance and Critical Illness policies are long term protection policies, lasting often for decades and they are incredibly important to have. However, if you choose the wrong one you could pay literally thousands of pounds more than you could have done for exactly the same policy, had you shopped around or used a website like premiumhunter.co.uk.
What can I do now I've found out I got a bad deal....
Find a new policy! These days it's pretty rare that you will be tied in to a life insurance policy and even if you are it's normally only for the first year or two (check your paperwork). So you are free to shop around the thousands of websites offering you various deals, cash back, nectar points etc
Or...
Get in touch with Premium Hunter today, tell us what you need and we will do this for you - We will search the best deals and find life insurance brokers offering deals you may be interested in, deals that match your requirements. Saving you time and money.
Posted in: Insurance
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