People in the UK have many alternatives they can use when the purchase term insurance and sorted insurance is one of them but is it really the best and the cheapest for me?
Sorted insurance currently only use one company to quote you on your term insurance and although there is nothing wrong with this there could be better and cheaper alternatives for you if you shop about online and use insurance calculators to get your term insurance quotes.
If you are wanting the best and cheapest term insurance whether it is mortgage protection, family protection or any other type of term insurance then use an online comparison which has several providers as the quotes you are given may save you thousands of pounds over the term of the policy and for most policies there will be very little difference in the policy terms and conditions if any.
These types of policies whoever you get it from have no cash in value at anytime so by paying a higher premium than you have to will not benefit you in any way when the policy comes to an end or you no longer need the policy so please bear this in mind when you are getting your quote.
Many people think that because they are paying a higher premium they are getting better cover and this is not the case with term insurance policies as if the application has been filled out correctly and honestly then they will all pay out the sum assured in the event of a claim no more and no less irrespective of the premium you are paying or the company the term insurance policy is with.
So if you currently have a term insurance policy running with sorted or any other company and you find a cheaper quote online what can you do?
Firstly ensure the details you have entered into the quote system are accurate and reflect your current policy and when doing this if you have a policy that has been running for 2 years of a 25 year term or any other term then your comparison should be for 23 years to give you a like for like quote and if decreasing term insurance you will also alter the sum assured as this will have reduced from the policy commencement.
If you are unsure simply try and get your quote then speak with the advisor or company where you got the quote from and they will confirm your quote with you.
At this point do not cancel any existing cover you have but the advisor will explain this to you as it may leave you with no cover and your new application being declined which is not a good situation to be in and leaves you and your dependents exposed.
There are many places you can get insurance calculators online and many of them offer discounted rates which could end up saving you thousands over the term of the policy. Getting a quote on most systems will take less than 5 minutes so it is worth doing this today to see how much money you could save. https://terminsurancequotesuk.co.uk