Direct or Underwritten - Are over the phone policies easier?

March 05, 2015
Maureen Johnson


To a society that craves quick and easy, the effort and time involved in having an insurance policy underwritten can seem horrendous.


  Medicals, bloods, psychiatric reports and God forbid... having to come clean about how much we drink and smoke and weigh!


Why do all that responsible adult stuff when we can simply respond to one of the many TV ads for direct insurance, answer a few quick questions over the phone and be covered instantly?


What the TV ads don’t point out is that essentially every policy has to be assessed at the time of claim.


 If you’ve been thorough and had your policy underwritten at the time of application you have a reasonable expectation that you will get the expected payout because there shouldn’t be any surprises in your claim paperwork for the insurer.


If, on the other hand, you accepted the fact that your insurer only needed answers to a few questions at the time of application, you’d better believe you’re going to have to answer a lot more now, possibly at a time of great stress, when you really need the claim to pay out. At that point it's anyone's guess how successful your claim will be.


Further more, you’re likely to find that on a like-for-like basis retail policies are often cheaper than direct ones. They also tend to have less hidden in the fine print and many people believe that retail insurance staff members are much more supportive with paperwork and red tape when it comes to claim time.


The last two advantages don’t apply if you’ve used a financial adviser like Ciaran Davis at MCFP Sutherland because you won’t have to deal with the provider at all. Ciaran will take care of all those tiresome details on your behalf leaving you free to concentrate on what’s important.

Make an appointment to see him about your insurance policies on 029521 1611

Posted in: Insurance

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