Where do You Buy Your Life Insurance?Daniel Hardiman
Where do You Buy Your Life Insurance?
All life assurance policies are the same? The best place to buy life assurance is online or from your bank? The only thing to consider when buying life assurance is the price? Well in fact the answer to each of these questions is, FALSE!
Life assurance policies differ from provider to provider
The days of life assurance policies all being exactly the same are long gone… With people living longer now than they used to and recovery rates from illnesses improving all the time, the cost of life assurance has fallen significantly in recent years. As a result, the providers now compete both on price and through the addition of valuable policy benefits. Are you aware of the following?
- There are life assurance providers that will give you access to the best doctors from around the world, for a 2nd opinion when you have a serious illness?
- If you bought a house in joint names as co-habitants, there could be severe tax consequences if your life insurance policy is not set up correctly.
- There are life assurance policies that will pay out your benefit immediately while you are alive, if you have been diagnosed with a terminal illness?
- You can get life assurance policies where the cover increases automatically each year, policies that pay out when the first of you or your spouse dies or indeed policies that pay out twice when each of you die.
- You can get life assurance policies to protect yourself, your family, your business partners, key employees, even to protect against you leaving an Inheritance Tax bill when you die.
So all life assurance policies are definitely not the same!
Buying online or from your bank only narrows your options
The problem with buying life assurance online or through your bank is that it will seriously narrow your options. Both of these sales channels will usually only have access to the products of a single life assurance provider. So apart from you potentially not getting access to the cheapest life assurance cover, you may well also miss out on some of the really valuable enhancements available.
A Financial Broker like Hardiman Life & Pensions on the other hand has access to a broad range of life assurance products in the Irish market. We will find the right provider, offering the best product at the best price for you and your specific circumstances. As Daniel is a chartered accountant, he will ensure the life insurance policy is set up for co-habitants in a format which will prevent any draconian tax bills on death..
Life assurance is about more than the price
Of course the price is really important when you are buying life assurance. In fact your we will always be able to match the lowest price in the market on the actual product that you want! Now that is really adding value! But your Financial Broker will add far more value than that. Apart from the price and added benefits, they will also consider factors such as,
- The claims payment records of the various providers
- The financial security of the providers
- How easy the providers are to deal with
Hardiman Life & Pensions is definitely the best place to buy your life assurance!