Don’t be lured by Supermarket special offers
Potential life insurance customers have been warned not to be enticed by the major Supermarkets selling tactics, after they were accused of using ‘aggressive selling tactics’ to get more and more customers to sign up to their deals.
More and more customers have been lured into the Supermarkets arms, buying products which may not suit, or be the cheapest for each customer, and an investigation by national newspaper, the Daily Mail has found that companies like Tesco and Sainsbury’s have been using cash back offers, supermarket loyalty points and even gift vouchers to get people to sign up to their deals.
Here at lifeinsurancequotes.co.uk we urge customers to think about the long term benefits of life insurance, rather than the short term gain of extra club card points, gift vouchers or cash back.
By allowing our customers to compare the biggest life insurance providers, all in one place, they are able to find the cheapest life insurance quotes, and the majority of customers will find that they can save a lot more than the incentives on the supermarket life insurance prices over the lifetime of their policy.
Life Insurance expert at the Daily Mail, Kevin Carr explained, “Supermarkets can cherry pick who they give cheaper cover to and load the premiums for people who don’t tick all the boxes. They might look cheaper to start with, but getting a competitive deal is about researching more than one company.”
Over the next few months there will be a lot of changes to the way life insurance is regulated, and to the rules governing the companies and life insurance is expected to increase in price as a result. With prices increasing many experts are worried that customers will rush into buying the wrong policy, rather than spending just a few minutes on a life insurance comparison site finding the best deal.
If a customer was to save £10 a month on their policy over 25 years they would save around £3000, which is an awful lot more than the £50-£100 worth of gift vouchers offered by many supermarkets as an incentive. In fact those customers will actually be £20 off in the first year of the policy alone, with the different increasing with every payment after that.