UK Life Insurance News

Friday, May 27, 2005

 

Tesco life insurance is good, but not always the cheapest

Research from insuresupermarket.com shows that by shopping around, the Tesco deals can be improved upon. Based on the same search criteria, the best quotes generated by insuresupermarket.com were from Liverpool Victoria and Friends Provident and both quotes were for guaranteed rates.

Richard Mason director of price comparison website insuresupermarket.com comments: ?Tesco is a great brand and has become a trusted provider in the Financial Services arena and we are certainly pleased to see any efforts to cut insurance premiums. However, no matter what claims an insurer makes, no one provider can ever be the cheapest across all scenarios and while the Tesco deals are very cheap, they may not be such good value for more ?risky? scenarios. At the end of the day, insurers have to balance the risks the take, which means they simply cannot give cheap premiums to every single customer.

As always, our advice is to search as much of the market as possible to ensure you are getting the best deal, make sure you understand fully the terms of the product you are buying and check that it is the right cover for you ? for example do you only need life cover for your mortgage or do you have dependents you may wish to protect? Is the rate guaranteed or reviewable? Ultimately, insurance is only worth paying for if it gives you the protection you want so it?s vital to read the small print before you buy.?

On insuresupermarket.com consumers can source the least expensive life insurance policy based on the level of cover they want ? from more than 100 different providers ? and in some cases apply online. Alongside the life insurance channel on insureuspermarket.com, there are also eleven other insurance channels where you can compare costs and apply online ? including home and contents, motor, breakdown cover, travel, dental, pet, mortgage payment protection, accident and sickness, payment protection and medical insurance.

posted by UK Insurance Index  @ 7:19 PM

News items are intended for information only and should not be relied upon when making insurance decisions. Due to their nature some of the information in these news stories may no longer be current.