The Benefits of Receiving Advice vs Doing It Yourself
You may think to yourself “Why should I use a financial adviser when I can just go on a price comparison site?”
The answer is quite simple. Do you know the types of policies available and what type of policy you need? Also, do you know the quality of what you’re buying? Because, when it comes to making a claim – it could be too late.
There are many different features and variances in the small print of insurance policies. Money Advice Clinic invests in the right tools to ensure you know what you are buying.
We are able to measure the difference between the price and quality of a policy against every product currently or previously available in the market.
Here are just a few reasons why you should always use a financial adviser, and there’s no better financial adviser than the Money Advice Clinic…
Knowledge, Understanding & Awareness
Knowing what you want and knowing how to find the right type of policy are essential to getting it right:
- Advice – Your adviser has the knowledge, experience and qualifications to recommend the features you need in an insurance policy.
- Buying Online – It is likely that you have very little experience in finding the right type of flexible policy on a price comparison site, which could prove costly in the long-term.
Quality of insurance policies
Insurance policies vary dramatically in terms of price and quality, and you want a policy that enhances the chances of making a successful claim:
- Advice – Your adviser will scrutinise any small print and price-check quotes to deliver the best policy for your budget
- Buying Online – When buying yourself, you tend to focus on price. However, it is almost impossible to identify the difference in quality between budget and comprehensive policies.
Access to Providers
The greater the choice of providers, the greater the chance you have of finding the right policy:
- Advice – It is very likely that your adviser will have access to a wider range of providers and policies than you will find on a price comparison site.
- Buying Online – On a price comparison site, there will only be a limited number of providers and product types, therefore, you can only buy what’s in front of you.
Protection
Get added security against choosing the right policy and insurance provider:
- Advice – When you take advice from your adviser, you will be insured which provides added peace of mind if the wrong policy was recommended.
- Buying Online – When buying online, you are not getting advice, therefore, you’re not insured if you apply for the wrong policy.
Health Issues
Your medical history could result in higher insurance premiums:
- Advice – Your adviser will be able to identify the most competitive policy based upon your medical history in a timely and stress-free manner.
- Buying Online – You may find yourself spending a considerable amount of time making applications with numerous insurance providers and still not get the same outcome as you would with an advised approach.
Trusts
This is a serious matter that resolves issues around inheritance tax and speedier payouts, in the event of making a claim against a life insurance policy.
- Advice – Your adviser has the experience and knowledge to recommend the correct trust type and policy, which will resolve many potential problems in the event of your death.
- Buying Online – Your lack of knowledge and understanding when buying life insurance from a price comparison site could count against you. Very rarely is this option taken.
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