Life Insurance – Not as straight forward as you think?

Friday, January 22nd, 2016

Many people believe that life insurance is straight forward and that everybody can get it, however this is not necessarily the case.

Following an increased emphasis by the industry regulator to encourage more adults in the UK to provide adequate protection for themselves and their families, many life insurance providers have been advertising their products on TV and radio. Some of these adverts appear to suggest that life insurance is cheap, easy to obtain and is available to anybody. Here, at Caboodle finance, Birmingham, we find that the reality can be very different.

Yes, it is true that there are some life insurance and personal protection policies that appear to be available at a very low cost, but unfortunately these types of policy often include severe restrictions or exclusions which can, at a time when it is likely to be most needed, dramatically reduce the prospect of somebody then being able to actually make a successful claim.

Life Insurance Factors

To get a ‘fully comprehensive’ life insurance or personal protection policy the provider will, when reviewing an application take many factors into consideration including the prospects age, their occupation, the amount of benefit required, the term of the proposed policy and of course medical history. Any one or more of these factors could result in a provider refusing to cover an applicant or alternatively “loading”’ their premiums to reflect what they regard as higher perceived risk.

With the vast array of providers of life insurance and personal protection products, all of which will offer different prices and have different terms and conditions, it is easy to see why getting the most appropriate protection for the best price possible is not actually very straight forward at all.

Birmingham’s Specialist Life Insurance Broker

One solution, being chosen by more and more people, is to use a specialist life insurance and personal protection broker such as Caboodle Finance of Sutton Coldfield, Birmingham to provide that independent advice. It is important to pick a broker that has access to a panel of life insurance providers, so are not just tied to one company. This means that they will be able to undertake objective research to find out which companies are able to offer the best protection and most competitive premiums in each case.

As a protection specialist, Caboodle can offer advice on a range of products including life insurance, income protection, critical illness cover and family income benefit all of which are designed to provide a range of benefits to cover a variety of situations and eventualities. An important part of any independent advisory process would be to factor in any existing protection and then contrast that with what would be required in order to propose an effective solution.

To make a no obligation enquiry or perhaps just understand more about how Caboodle Finance of Sutton Coldfield Birmingham apply their specialist approach to life and personal protection policies, just call 0121 308 9114 or click HERE to contact us and we will be delighted to help you.

Fields marked with a * are required.

Click here to view our data protection policy

Click here to view our Customer Privacy Notice

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for mortgage advice. The exact fee will depend on your circumstances and may be reduced depending on the loan amount and any commission we receive from the lender. It is estimated that the fee will be £595, but it may range from £495 to 1% of the amount you borrow. The fee is only payable on completion and can normally be added to the mortgage. This will be discussed and agreed with you before you make an application. Please ask for a personalised illustration.

Secured loan rates from 3.95% APRC, although we have plans available up to 29.9% APRC which allow us to assist customers with the most severe credit problems. The overall cost for comparison is 7.65% APRC. For secured loans a broker fee up to 10% of the loan amount borrowed may be payable on successful completion. A lender fee may also apply. The actual APRC available will depend on your circumstances. All loans are subject to status. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England at SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of Advance Mortgage Funding Ltd which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Caboodle Financial Services Ltd may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.

© 2019 Caboodle Financial Services Ltd