Why Use Life Insurance Brokers

When looking for a life insurance policy, you can take the do-it-yourself approach. This allows you to have better control of the process, from contacting insurance companies to finally settling with the policy of your choice. It's great if you are familiar with how applying for life insurance works, or if you have the luxury of time to do everything yourself.

Not all of us have the luxury of time to apply for insurance on our own, though. That is where life insurance brokers come in. In this article, we will share with you some of the reasons why you need to use life insurance brokers, starting with...

  1. They help you save time. Imagine contacting every single life insurance company and applying for insurance with them. You have to take all their contact details, prepare the information they might require, submit it to them, and then wait for their reply. But with an insurance broker, they will do the legwork and even the application process on your behalf, which helps you save time significantly.
  2. They help you save money. Most insurance brokers offer their services for free. Instead of charging you, they receive commissions from the insurance company that they refer successfully. Plus, since they do the legwork on your behalf, you won't spend money on gas just to travel to submit your details to insurance companies. You also save money because brokers help you find the best policy for you in terms of coverage and at premiums you can afford.
  3. They are more reliable than your other options. The 2011-2012 report released by the Financial Ombudsman Service revealed that of the 25,298 complaints they received during the period, only 123 were for general insurance brokers and 13 for life insurance brokers. In comparison, banks, general insurers, and life insurers received 12,210, 7,591, and 851 complaints, respectively. These figures thus suggest that life insurance brokers are more reliable than most typical options when it comes to insurance. So if you want to be worry-free with your life insurance, use brokers instead.

Rate Detective is a life insurance broker that's already recognised for its reliability and unparalleled service. Talk to our consultants today and receive rate comparisons of Australia's top insurance companies. They can even apply for a policy on your behalf, thus helping you save time and money in the process. Contact us today for more details!

Get your quotes now

What to find out more? Enquire now

Published on May 5-th, 2013 in Life Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

More on this topic

Enquire about Life Insurance

Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

Related Topics