Supermarket life insurance isn’t as special as it seems
The last few months have seen a huge increase in the number of supermarket deals which tempt customers into taking out life insurance with their insurance companies in exchange for extra loyalty points, gift vouchers in store and even cash back. Whilst the life insurance seems to be a special offer, with added incentives to take it out, experts are warning customers to be careful as all might not be as special as it seems.
One of the biggest problems facing consumers is the panic over the increasing cost of life insurance. Over the next few months the cost of life insurance is set to increase for women, and from January the cost of life insurance for everyone looks likely to rise as well, as changes to the tax rules mean life insurance companies can no longer offset profits on investments against the cost of running their life insurance business, for tax purposes.
As a result people are panicking, and being tempted by these offers when they should shop around instead. Here at Life Insure we have seen firsthand the benefits our customers get when they use our website to find the cheapest cover, and we’ve spoken to hundreds of happy customers who have found a cheaper life insurance deal by using our comparison page.
Customers being tempted by a £100 gift voucher should consider the difference in cost they may be paying over the next 25 years, and not just the small gain they make now.
A life insurance quote costing just £5 a month less, very common when you search all the leading life insurance providers for the best prices in one place, can give you a saving of £1500 over a 25 year period, substantially more than the £100 you gain from buying your life insurance from your local supermarket.
If you run a search and find that your supermarket is the cheapest place for your life insurance, then buy it there, but with a life insurance quotes search taking just a few minutes of your time, and the potential to save thousands of pounds, all customers should consider comparing the cost of life insurance before buying it from the first place they offer it.
Content by Robert Prime