Updated: September 17, 2019

Should You Use a Life Insurance Broker?

Need expert guidance on life insurance? Find out what a life insurance broker could do for you in this guide

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Pete Mugleston

Author: Pete Mugleston - Mortgage Expert

Updated: September 17, 2019

If you’re in the market for life insurance, it’s important to consider how a broker can help you save time and hassle and get the very best deal possible.

In this article, you’ll learn about life insurance advisors in the UK – what they do, and the pros and cons of working with one.

Need a little help? Get in touch. We work with a fantastic team of life insurance experts who would be happy to help you – and there’s absolutely no obligation to take out a policy

Call 0808 189 0463 or make a quick online enquiry.

Otherwise read on to find out more about why it might be a good idea to talk to an expert before getting your life insurance.

What is a life insurance broker?

Put simply, a life insurance broker is an expert in life insurance and all aspects of it.

A good broker uses their experience and knowledge of the life insurance market to match customers with the best life insurance product for their specific needs. This ensures that you get the exact cover you need at the best possible price.

Life insurance brokerage firms have access to a network of brokers, and can find a specialist with the specific expertise for you.

Though there is sometimes a fee to use the services of a broker, this can pay for itself many times over. The expert advisors we work with won’t charge a penny for your initial enquiry and will only get paid on success.

Call 0808 189 0463 or make an enquiry for a free, no-obligation chat.

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What are the advantages of using life insurance experts?

Let’s discuss the main benefits of using a life insurance broker.

Whole of market access could net you a better deal

An independent, whole-of-market broker is not tied to any one insurer, and can access insurance products not available to the general public. By going direct to an insurer, you could miss out on the best deal.

They’re authorised by the FCA

Reputable insurance brokers who arrange policies for individuals are regulated by the Financial Conduct Authority (FCA), which is designed to protect you by ensuring that the broker you are speaking with has your best interests at heart. For more information on this, read about how the FCA protects customers.

Loyalty keeps your broker working in your best interest

A good broker puts you at the heart of the relationship. They have to do this because that’s what ensures you’ll keep doing business with them.

As such, a good broker will get to know you – your exact circumstances, what kind of cover you need and why. You’re unlikely to get this same kind of loyalty (or a personal relationship) with a customer service employee.

Expertise means that your broker can find the best value product for you

A broker’s experience and expertise may be one of the most important reasons to work with them. In fact – it’s where you save money.

An expert broker can ensure you get the right amount of life cover for your specific circumstances. This means not paying too much for features you don’t need, and not taking out a policy which fails to protect you.

They know which companies and products may be best suited for your specific requirements. They can also get discounts that are not available to the general public when recommending multi-policy options. This is particularly important if you have any unusual circumstances, such as a pre-existing health condition.

Keep in mind: the quality of individual brokers can vary

Traditionally, life insurance agents need a number of qualifications to even start practicing, and the sector is tightly regulated today.

Life insurance advisors list their credentials – qualifications from the Chartered Insurance Institute (CII) are a great sign – as are those from the London Institute of Banking and Finance (LIFB).

With this in mind, not all brokers have the same amount of experience or expertise, but with our free matching service on your side, you can be confident that you’ll be introduced to the right advisor for your needs and circumstances.

What questions should I ask a life insurance expert before working with them?

As we said earlier, it’s important to ‘feel out’ any potential broker to ensure that they’re a good fit for you.

Here are some questions that can help you with this.

Can I get a reference from some of your current and former clients?

Any good broker should have no qualms about providing you with a reference or two.

If it’s an online broker, you can also use independent third party review platforms, like Feefo, to read impartial feedback from other clients.

What qualifications do you have?

It sounds obvious, but insurance is complex. It’s a reasonable assumption that the more qualified your broker is, the more they understand the industry – and the better their advice is likely to be.

Are you ‘independent’ or ‘tied’?

Independent (also known as whole-of-market) brokers are able to access the entire insurance market. Tied brokers are ‘tied’ to a smaller number of insurers. As you may have imagined, independent is usually preferable – the more choices you have, the more likely you are to find the best deal for you at the most competitive price.

How do you make money?

By law, brokers are obliged to tell you exactly how they make their money, and how much commission they’ll make on any deal. So don’t be afraid to ask.

The expert advisors we work with are paid in commission when a client gets the policy they need and want at a price they are happy with. The service we offer is entirely free of both cost and obligation.

You can get in touch by making an enquiry online and we’ll match you with an advisor who will answer your questions and help you find the best life insurance cover at the most competitive price.

Get life insurance help from an expert today

If you need a little life insurance help and want to speak to an expert for the right advice, call 0808 189 0463 or make a quick online enquiry.

We’ll match you with an expert life insurance broker who can answer all your questions and help you get the right cover at the best available price.

The service is free and there’s no obligation. Advisors we work with only get paid when you get the policy you’re happy with, and even then, it won’t cost you a penny because advisors are paid in commission directly by insurance providers.


Are there advantages to using an expert near me?

The only real advantage of having a broker nearby is that it is easier to go and see them, although you’ll probably have to make an appointment to do so. However, it’s worth bearing in mind that if you’re only looking for brokers who are in your immediate vicinity, you may miss out on a better broker who is located further away.

Are there online life insurance advisors?

Yes, there are brokers who are happy to carry out the bulk of their transactions through online channels, if that happens to be the customer’s personal preference.

We have access to brokers who operate this way, but we will only introduce you to them if they’re the best expert for your needs and circumstances.

What are the advantages of using an independent life insurance broker?

Independent life insurance experts are not tied to any one provider and have access to a vast number of life insurance products – many of which are not directly available to the public, and aren’t listed on comparison websites.

Is there such a thing as a term-life insurance agent?

Sort of. Whilst some life insurance agents may specialise more in certain sectors (like term-life), the majority of agents can access a variety of products (for example; whole of life or funeral insurance).

Ask a quick question

We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in life insurance. Ask us a question and we'll get the best expert to help.

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Pete Mugleston

Pete Mugleston

Mortgage Expert

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

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FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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