Why is UK Life Insurance the cheapest?

Despite Critical Illness and Life Insurance products offering even more value, with added benefits and extra support offered to customers, the cost of premiums is still dropping. This goes against supposed logic, so experts are looking into why this might be.

So what is the cause?

Better technology

Among the possible reasons, improvements in technology could be playing a part in reducing costs for insurers, a saving they are keen to pass onto customers. General improvements and awareness in health care and the result of wellness schemes from providers may also have helped reduce claims and reduce premiums.

But experts suggest that renewed competition in the industry has ensured a healthy market for customers, as providers look to offer the best value products. Protection products such as Life Cover, Critical Illness Cover, and Income Protection, now deliver extra support and access across the board.

Easy to compare

More choice and the competitiveness of the UK market is also likely to be driving prices down; with many providers easily accessible through comparison websites like My Insurance Hub it has never been easier to shop around. This makes it very difficult for an insurance provider to charge over the odds as the consumer will simply overlook them.

With advisers now able to look beyond just price when talking to their clients about protection, this has opened the net and encouraged providers to offer much more as part of their products, which is good news for customers as they look to secure peace of mind and protect their finances from worst case scenarios.

If you are ready to talk about your protection needs and discover your options, then call us today on 0800 024 8685 to discuss your options.

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