Why are the insurance prices on the Internet so low?

The Internet is undoubtedly the cheapest marketplace to buy insurance. There are two main reasons: -

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

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Will your premiums increase?
It depends upon whether you have a “Reviewable” or “Guaranteed” policy.
Could you end up paying more for insurance than someone else the same age?
Yes you might, because your age is only one of many aspects the insurance company takes into account when determining your premium.
If my premium is “Rated”, what does that mean?
If your premium is “Rated” it means that the insurance company will only agree to insure you if you pay a higher premium than the one they originally quoted. This happens because, following receipt of your Application and any follow-up information they required, the insurance company believes you to represent an above average risk. (In extreme situations they will simply decline to insure you.)
Can life insurance be arranged quickly?
The short answer is that the speed depends upon your personal details.
What happens If I stop Paying my Premiums?
Your policy will be automatically cancelled. If this is what you want you need take no action and your insurance cover will cease. You have no commitments to make further payments.
The Internet’s selling costs are much lower compared with the traditional Financial Adviser sitting in your lounge. In addition, there is intense competition on the Internet for financial services. Low operating costs and strong competition have effectively forced the Internet into a low price environment, and that’s especially true for life insurance.

However, we have found that as many as 50% of people looking for life insurance do not get exactly what they want. They would in fact be a lot better off with the help of a professional - so they not only get the cheapest deal but the right deal. That's why we'll arrange for LifeSearch to call you!

Frequently Asked Questions related to the above topic.
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