Life Insurance News in Category "Income Protection"

Make Life Insurance Your New Year’s Resolution for 2011

If you do not have life insurance in place, or already have a life insurance policy why not start 2011 by comparing life insurance with Lifebroker?

Most people spend December shopping for Christmas presents, getting ready for the big day. December is also traditionally a quiet time for the life insurance industry and a good time to apply for life insurance so that by the time January comes your new life insurance policy is in place.

James Markwick, Managing Director at Lifebroker said “As December is quiet, why not shop around during the lull so that you can get the policy you want. By the time Christmas has come and gone you can then start the policy. It seems sensible to me that as a New Year’s resolution that you could get your life insurance policy in place or review your cover to see if you can save money. With the expense of Christmas out of the way it is only logical that consumers want to cut back so that they can get their finances back on track”.

You can use the Lifebroker website to search for life insurance for free. Lifebroker deals with all the main UK household brands such as Legal & General, AXA, Aviva & PruProtect. Once you have decided you can then buy online with now hassle. What’s more Lifebroker’s service is fast and efficient which means that it will not hold up your festive preparations.

Lifebroker specialises in Life Insurance, Over 50’s Life Insurance, Mortgage Protection Life Insurance, Critical Illness Cover & Income Protection. Click here if you want a quote or call Lifebroker on 08452 51 61 71 if you want a life insurance quote over the phone.
HAVE A MERRY CHRISTMAS FROM LIFEBROKER!

Posted under : Income Protection, Critical Illness Cover, Legal & General, Mortgage Protection, PruProtect, Personal Insurance, Over 50's Life Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, AXA, Aviva

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Coffee at Prêt or Life Insurance

Nearly 1 in 3 Brits have decided that life insurance is not as important as having their daily dose of caffeine according to a recent study carried out by Lifebroker.

Brydee Greene, Senior Life Insurance Consultant at Lifebroker in London said "In my opinion a good cup of coffee is a daily necessity that is real for most people. Buying life insurance is not really a tangible process therefore it becomes less important when it comes to prioritizing."

James Markwick, Managing Director at Lifebroker said "A quality life insurance policy may cost you a few quid a day, however eating and drinking at somewhere like Prêt has knocked insurance on the head for many consumers. It is a shame that some people do not see the importance."

Ultimately it is Lifebroker's aim to keep offering quality life, critical illness, mortgage protection and income protection insurance policies to visitors to their site.

James Markwick said "Once consumers see how competitive Lifebroker's life insurance quotes are I am sure that they will think a bit more about protecting their loved ones."

Posted under : Income Protection Quote, Income Protection, Critical Illness Cover, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Insurance Products

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Can UK Life Insurance Companies Embrace the Web?

Lifebroker prides itself on being an online purchasing tool for consumers wanting to make their own life insurancepurchasing decision. All systems have been engineered and refined by Lifebroker over the last 10 years to promote ease of online purchase.

Consumers can purchase online without pressure or call and ask question to obtain clarity. The process is efficient, clean and seamless...what could be easier?

According to Tess McDonald at Lifebroker, the UK life insurance industry 'does not get it'. Tess McDonald said “Most insurance companies are all geared towards the traditional IFA market in that their screens are designed to be looked at by a potential client. In my opinion many have huge legacy issues with their reporting in that it is not detailed enough and it is not instant.”

Major life insurance brands in the UK are introducing direct to market (D2M) offerings that they believe will revolutionize the way that the online sector works. James Markwick, Managing Director at Lifebroker believes that this may not be best for the broker. He said “Here at Lifebroker we have looked at the D2M space and have concluded that Lifebroker is more advanced than the market right now. Most players in this arena use their website to generate telephone based leads that their brokers call out on to sell over the phone, Lifebroker is different in that the client buys instantly from the website or they come back later.”

Lifebroker currently have Bright Grey’s Lifestyle life insurance product on the site however it has not had the impact that was expected. The reason for this is that the reporting from it is too slow. James Markwick said “in the online space everything moves quickly and this also goes with the reporting. Visitors to websites move quickly; if they do not get instant satisfaction they are gone. The same applies for life insurance websites in that if the insurance D2M application is too hard to complete, the browser is closed and revenue missed.

Lifebroker has its’ own proprietary Fastrack application system that provides in-house feedback on consumer activity. Bettina Richen, Sales and Marketing Manager at Lifebroker said “Our Fastrack applications are tailored to each provider so that their questions are mirrored. Forms are intuitive and will inform Lifebroker when consumers start, complete or abort their application. This allows Lifebroker to contact the online purchasers that are not decided or are having technical PC issues. At this point we can capture their information over the phone or just track them via email and phone calls if they want to think about it more.”

An insurance company may have a great application process but without the back end to support it they whole process falls apart. Lifebroker can only work with the companies that they have synergy with.

Lifebroker recently took part in Incisive Media’s questionnaire that focused on UK Protection and Healthcare providers. More than 400 UK intermediaries took part. The report provides feedback on each Life Insurance Provider based on the following factors; customer service, marketing, price, product, technology and underwriting. Lifebroker is more interested in the technology part of the report as it supports the business, particularly - ease of transaction.

James Markwick said “According the report 45% of respondents were IFA’s. Of this amount it would be interesting to see the breakdown of face-to-face advisers versus online. I am sure that the responses to the survey would be very different indeed. From a personal perspective I find Legal & General to have the best solution in the market for the online D2M space. At the other end of the scale sit companies like LV= who are way behind of the pack in terms of online reporting and general feedback. I have been told that Legal & General and PruProtect are nearing the launch of their new online D2M system and Lifebroker are genuinely excited about what they are offering. Only time will tell how well they operate.
 

Posted under : LV=, Liverpool Victoria, Income Protection, Legal & General, PruProtect, Life Insurance Research, Life Insurance Broker, Personal Insurance, Insurance Products

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Life Insurance Product Ratings

Lifebroker provides 5 star ratings for life insurance products to compliment live pricing and online applications. The ratings system encompass level term life insurance, mortgage protection, and also income protection. When using Lifebroker's website for life insurance quotes the premium and also that rating will be displayed side by side.

James Markwick, Managing Director at Lifebroker said "This is something that Lifebroker has wanted for some time. Lifebroker in Australia has used a similar system for many years now and it was only a matter of time that this became available here in the UK. Lifebroker has a close working relationship with Webline part of Capita Financial Software and it is thanks to Webline's innovation and close relationship with Synaptic (also part of Capita Financial Software) that this has become available. The Synaptic is updated every 24 hours. So far I am impressed with what it can offer consumers in assiting them with their purchaing decisions."

When using the rating system consumers need to use it as a guide only as Lifebroker does not offer financial advice

The guide is aimed at helping consumers choose life insurance by something more than the premium. Most comparison websites only display premiums; Lifebroker can now offer more to consumers.

Bettina Richen, Lifebroker's Sales & Marketing Manager said "The new rating guide really compliments Lifebroker as we are always looking to be innovative. We already have live quotes and online applications. In my opinion Lifebroker are the most forward thinking online life insurance broker in the UK."

Lifebroker is looking forward to seeing how the 5 star rating is used by consumers to assist them in choosing their life insurance.

 

Posted under : Income Protection, Critical Illness Cover, Mortgage Protection, Level Term Life Insurance, Life Insurance Research, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products

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Comparing Life Insurance

Comparing life insurance is hard work and also confusing. In today's world you have many choices; you have the old fashioned way of comparing products by making an appointment with your Bank or Buidling Society, or you can use the internet. Either way both can be time consuming and horribly confusing.

Lets work through the implications of using your Bank. Firstly you will have to make an appointment for the luxury of being sold a life insurance product from a tied Financial Adviser (can only sell products from one insurance company). Once the adviser has gathered enough data from you, you will be sent away and asked to come back so that he/she can present to you what they advise. If you want to compare Banks you will have to carry out this exercise again and again until you are satisfied that you have enough information to make the correct choice.

Now for the the internet. This can also be confusing due to the range of products and online brokers you have at your fingertips. If you want to compare using Google or an alternative search engine, the usual culprits appear on the first page; Comparethemarket, Moneysupermarket and GoCompare. It apprears that these comparison sites only compare price and not quality, is this what you want?  When researching life insurance does 'value' come into it, and how do you calculate value? For this surely you need to know the price, but also more about what you are getting for the price. Most comparison sites deliver on price but still leave you confused.

Lifebroker is preparing to launch a new part of the site that will allow you to compare life insurance quotes based on featues and quality. You need a website that will allow you to compare products without wasting your time, and a website that takes your purchaing decision seriously.

Lifebroker is not looking to use meerkats (as nice as they are) or annoying men that shout and sing about insurance. Buying insurance is horrible enough as it is, Lifebroker will take you seriously and wants you to make the correct decision first time.
 

Posted under : Key Man Insurance, Terrence Higgins Trust, Income Protection, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Business Protection, Diabetes Life Insurance

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Protection Websites or IFA's

Natalie Holt’s article in MoneyMarketing dated July 8 2010 highlighted that there is improvement to be made in the online protection arena in the UK.

The article draws on data from Swiss Re’s latest Term and Health Watch Report and states that the internet accounted from just 1.4 per cent of the total number of individual term insurance policies sold last year.

Lifebroker finds this hard to believe as protection websites generate traffic for IFA’s. In fact some IFA’s live off traffic from websites. Has this been thought about and included in the stats?

We all know that there are many life insurance websites that have been purely created to generate phone based leads that are touted to IFA’s. Are these the same IFA’s that cannot generate their own leads through great customer service resulting in recommendations? Most IFA’s that purchase these leads are very target driven. They pressurize people to buy their insurance over the phone at full commission.

Lifebroker sits proudly to one side whereby protection is not sold, it is purchased. Of course Lifebroker calls visitors but it is simply to ensure that the visitor knows what they are doing and to see if they need a hand. Lifebroker believes very strongly in quality financial advice and are aware that buying life insurance from a website is simply not the ideal solution for everyone. People that purchase their life insurance from Lifebroker have either carried out their own due diligence or have had advice from an IFA. The decision to purchase online is usually due to the IFA charging too much to set up a simple life insurance plan.

With regards to persistency; Lifebroker believes that where a client has purchased from a website and has not spoken to an adviser the persistency is more superior to meeting an IFA as the decision to buy is isolated. Lifebroker has spent time researching why so many protection websites have such poor persistency. Most Business Development Managers say that is due to pressured selling on the phone or the client finding cover cheaper elsewhere. One this is for sure though; most lapses take place at the lower end of the market where clients are the most price sensitive.

Posted under : Income Protection, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products

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Implications of Being Overweight

Life insurance companies use BMI (body mass index) to work out if they can offer you normal rates when calculating your premiums. This is an out of date method of assessing insurability as everyone is different. There is margin for error and it is best used as a weight range rather than a specific weight for a given height.
Lifebroker has some tips to help you lose weight the healthy way

• If you are someone who has not exercised for years you should not rush into running three miles every day. Exercise needs to be increased slowly.
• If you eat a lot you could experience problems if you drastically reduce your calorie intake. Make sure you introduce changes slowly and compliment them with short walks and other forms of light exercise.

It is obvious that increasing exercise and eating sensibly will produce weight loss. Make sure you exercise in a variety of ways and find an activity that you like and can afford as it is more likely to become habitual.
For those of you who hate going to a gym:

• When you next got to your local park incorporate longer walks
• Always use the stairs instead of the lift
• Get off the bus a stop before the usual one and walk the rest of the way
• Use commercial breaks to stand up and do exercise
• Consider using an exercise bicycle in your living room while watching TV

For most of you it is a simple case of eating less and eating more healthily. Don't crash diet as you could end up getting weaker or giving up completely in desperation. It is obvious - cut down on fatty food and do more exercise.

Losing weight allows us to grow old gracefully. We gain weight as the years go by, but if you gain more than say 20lbs compared to your weight when you were 20 will rapidly increase the risk of health problems due to being overweight and having a high BMI.

If you want life insurance but are overweight speak to Lifebroker and see what we can do for you.
 

Posted under : Life Insurance for the Overweight, Income Protection, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products

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Life Insurance for people with Diabetes

Trying to get personal insurance can be time consuming at the best of times, but when you have a pre existing medical condition such as diabetes can make it even more painful. When it comes to applying for life insurance, critical illness cover or income protection it is paramount that you make the insurer aware that you have diabetes so that you’re a guaranteed to benefit from the insurance if you are to make a claim in the future.

It goes without saying that some insurance companies are more accommodating to people with diabetes that others, however they will all want to know as much as possible about your diabetes. Remember that the more that they want to know about your condition the better as they are more likely to payout. As
a rule of thumb they will write to your Specialist or GP asking them to complete a diabetes questionnaire. The information they get back will allow the insurer to assess whether or not they can insure you; and if so, if they can offer you a standard price or an increased one die to the insurer's increased risk.

Lifebroker specialises in sourcing personal protection for people with diabetes. James Markwick, Managing Director at Lifebroker has some tips that will help when investigating your insurance options, "It is quite simple, to save yourself time make it clear that you have diabetes upfront, and allow yourself time to shop around as the application process can take a while. This will help you avoid a last minute panic buy especially if the insurance is needed for a mortgage. We deal with all the main life insurance companies in the UK and the tend to ask for pretty much the same information, the main things being the type of diabetes you have, when you were diagnosed, your recent HbA1c reading and your height and weight".

Lifebroker offer a free sourcing service where you can submit your contact information and a Lifebroker Consultant will contact you to collect the rest of the information from you via email or over the phone. Lifebroker will then shop around get an approximate cost before you go to the trouble of applying for cover.

Posted under : Diabetes Life Insurance, Income Protection Quote, Income Protection, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Comparison, Insurance Products

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Is Your Business Protected?

Key Man Insurance

Key man insurance (or key person insurance as it is sometimes called) is fundamental to protecting a business that relies on a key person for the ongoing profitability of the company.

New research by Scottish Widows has found that 81 per cent of small-business people who have key people in their businesses are not covered for the loss in profit or cost of replacing those people. This is despite the fact that four in five sole traders believe they have at least one person whose loss through death, critical illness or serious accident would undermine the survival of the business.

In today's financial climate most businesses are too concerned about not spending money, so vital key man insurance gets overlooked. Life or critical illness insurance for a business fundamentally operates in the same way as it would for personal insurance. The policy can be tailored to fit the requirements of the company; for example critical illness cover can be taken out alone or as part of a bundled package, and the income from an income protection policy on a key man can be used to pay for any temporary replacement staff.

Working out how much cover you should have for the key person is a bit tricky, but as a guide there are two common methods; five times net profit the key person brings into the company, or two times gross profit, and also using a multiple of the key person's salary, such as up to 10 times gross income of that person.

Key man or person insurance is taken out by a company to cover someone who is considered to be vital to the business; the key is to establish the insurance correctly. The ownership of the policy is vital and you can either see a financial adviser and pay full commission or visit some of the major insurance company websites to get more information. Aegon have a dedicated key man insurance section on their website that is publicly available. It is worth downloading the guideline documents to see what is involved. If you need advice you must see a financial adviser, or if you just want some free information and discounted key man insurance quotes contact Lifebroker.

Posted under : Zurich, UNUM, Friends Provident, Key Man Insurance, Fortis Life, LV=, Liverpool Victoria, Income Protection Quote, Income Protection, Critical Illness Cover, Legal & General, PruProtect, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Canada Life, Business Protection, Bupa, Bright Grey, Aviva, Ageas Protect, Aegon

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Income Protection for Cyclists

Lifebroker is an innovative online life insurance broker that thinks differently about the insurance world. James Markwick at Lifebroker recently came up with the idea of promoting income protection to groups of cyclists. Mr Markwick said “this idea came out of an accident that I had towards the end of 2009. I commute to work on a bike and was knocked off by a bus in London. I was not too hurt thankfully but my bike was ruined and I had to get a new one. It got me thinking what would I have done if I had to get a new bike but did not have the immediate funds? This is when I spoke to my colleagues at Lifebroker and we came up with the idea of providing the funds ourselves to anyone that makes a valid claim.”

According to the Department for London there were 115 pedal cyclist fatalities and 2,450 reported seriously injured casualties (in 2008) with the number killed or seriously injured increasing in the last 4 years.

The majority of reported pedal cycle accidents happened in urban areas; these accidents account for 75 per cent of all pedal cyclist killed or seriously injured. This is explained by the fact that 77 per cent of cycle traffic was on urban roads in 2008. In comparison, 64 per cent of all accidents and 53 per cent of all KSI casualties occurred in urban areas.

Lifebroker have pledged to provide up to £1,000 to replace your bicycle if you make a valid claim on your income protection bought through Lifebroker due to being injured in a traffic accident on your bicycle. It is crucial that if you are an active cyclist that you have something in place to replace your income if you are ever caught up in a traffic accident, and with the added benefit of having your mode of transport replaced then getting a quote from Lifebroker for Protection has to be a must. Visit the Lifebroker today and get a quote.

Posted under : UNUM, Friends Provident, Fortis Life, LV=, Liverpool Victoria, Income Protection Quote, Income Protection, Legal & General, PruProtect, Life Insurance Broker, Personal Insurance, Life Insurance Comparison, Insurance Products, Canada Life, Bupa, Bright Grey, Aviva, Ageas Protect, Aegon, Zurich

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