‘Direct’ insurance products, often involve no underwriting or a less thorough underwriting process as they often offer a blanket exclusion for any claims relating to or connected with any pre-existing condition that you may have suffered from. Underwiting is then done at the time of claim which can often cause unnecessary stress. This lack of certainty is a distinct disadvantage of buying a “direct” product.
Contrary to public perception, most direct products are very much more expensive than the quality retail products available through professional advisers such as ourselves.
As you can see below, we have sourced insurance rates for a generic scenario for someone looking for life insurance. The results are staggering, with Real Insurance quoting a premium in excess of double what can be found through one of the retail insurers that Curo uses. This highlights just how much more money you could be paying a direct insurer, offering no advice as opposed to purchasing your cover through a financial adviser that offers ongoing professional advice and service.