Sunday, March 17, 2013

Insurance Selection Advice

When our team of advisers considers your insurance needs and acts to helps you secure an insurance package, we use a set of criteria that in our experience produces the best results in both the long and short term for you the client.

We list it here to give you a perspective on what our experience has found to be the most important factors in insurance, which can differ greatly from what the public expects when they try to go it alone. We hope it helps you when it comes time to manage your insurance plans.

Ranked from Most to Least Important

1. Claims Paying Experience and Performance.
To our mind, the most important part of any insurance policy is how it will operate at claim time. This is the time you really need flawless service to ease your financial burdens and thus claims performance is the most crucial part of what we look for when we secure you an insurance package. Typically, the events that necessitate a claim come with considerable financial and emotional stress for you and those close to you. We look at the efficiency, fairness and sensitivity with which the insurer carries out their work at these times and make sure you have the most efficient and stress free claims possible.

2. Underwriting Performance.
During your life, things will have gone wrong or begun to have gone wrong with your health and these are of concern to the insurer. We require them to look at these issues in the holistic perspective of your entire life and come up with reasonable solutions that are competitive, fair and accurate. The performance of underwriters is defined by the amount of research they do into your specific circumstances and just how much of a balanced perspective they are prepared to take.

3. Policy Specific Wordings and Definitions Relevant to You.
We focus on the individual person and their individual needs. We look for the issues you face, and what you need from your insurance in order to achieve your outcomes. This is our starting point, rather than a product focussed outcome. Insurance should be tailored to an individual, as catch all insurance solutions can more often than not be inadequate. This is something anyone trying to get the right insurance should take into account, and something we insist on. 

4. Long Term Price Stability.
Changes to your health over time may prevent you moving to another insurer should your current insurer’s premium rates become uncompetitively expensive. We actively avoid insurers who have shown long term instability of premium rates, and our experience gives us the edge to know in which areas certain insurers perform better than others.

5. Immediate Cost.
The best option for you is rarely the cheapest option (as detailed more extensively in our article here), but our priority is always to ensure your insurance is competitively priced among the panel of insurers that we do business with. The most important selection criterion is thus to get the best possible deal for your needs that we can in terms of immediate cost.

If you're having trouble with your insurance, feel free to get in contact and our experienced advisors will get you the best cover possible that meets your specific needs and will save you hassle at claim time.


  1. If you have children, you should definitely consider life insurance. Perhaps you can apply for an end term insurance that will cover the first twenty years of your child's life. If the worst should happen, your child will be able to go through college and get a good start in life thanks to the policy you subscribed to.

    Whole life insurance