| BIBA (British Insurance Brokers Association) is the UK’s leading independent Insurance body and it represents the insurance broker, intermediaries and the consumer. BIBA brokers advise you on choosing an insurance policy that matches your particular needs. For more details, visit: http://www.biba.org.uk/consumer/support/choosingpolicy.html
You can conduct a search on the BIBA website to find life insurance brokers. If you go to the following link, you can search for brokers by location: http://www.biba.org.uk/consumer/findbroker.asp
If you search for brokers in London, here are a few examples of what you will find (contacts numbers for all brokers are provided) :
- Coversure Insurance Services
Telephone: 0870 458 5786
Fax: 020 8983 9988
Website: www.coversure.co.uk/bethnalgreen
Email address: bethnal@coversure.co.uk
- A P L Protection
- Abbex Insurance Brokers
- Alliance Insurance Management Ltd
- Antell Insurance Associates Ltd
Insurance brokers such as Moneywise also help you get the best life insurance quotes. You simply need to fill in a form on their website where you supply details such as how much coverage you require and whether it is only for you or your spouse as well. For more details, visit: http://www.moneywise.co.uk/moneywise/lifeinsurance/
Apart from this, you can use UK Insurance Directories such as : http://www.ukinsurancedirectory.com/links/lifeinsurance.html
Search Engine: http://www.life-assurance.org
Quotes: http://www.britishlifeinsurance.gb.com
Life insurance buying guide: http://www.britishmoney.gb.com
Every year, a company called Incisive Media reviews all the financial product providers in the UK. It then bestows the Gold Standard Award on the companies that show the greatest ‘capability, financial strength, trust and fair value’. The Gold Standard Award assesses the performance of UK based companies across all these elements :
http://www.goldstandardawards.com/public/showPage.html?page=gold_standard_awards_why
The Gold Standard Award Website explains that “When a company has won a Gold Standard Award, you can be rest-assured that it offers a high level of service, is financially sound, offers fair value for its products, and commands trust. In a nutshell, the Gold Standard Awards are service with a big plus.” In 2006, the following life insurance companies won the Gold Standards Award :
- Friends Provident
- GE Life
- Scottish Widows
- Standard Life Healthcare
In 2005, the winners were :
- Scottish Life for Pensions
- Friends Provident for Pensions
- GE Life for Pensions
- Standard Life Healthcare for Protection
- Friends Provident for Protection
In 2004, the winners were :
- GE Life for Pensions
- Scottish Life for Pensions
- Friends Provident for Pensions
- Scottish Provident for Protection
- Standard Life Healthcare for Protection
The following companies were highly recommended :
- James Hay Administration for Pensions
- Abbey National Wrap Managers for Pensions
In 2003, the winners were:
- Scottish Life for Pensions
- Friends Provident for Pensions
- GE Life for Pensions
- Standard Life Healthcare for Protection
- Friends Provident for Protection
Some other life insurance companies are :
- AA
- Asda
- Direct Line
- Egg
- Halifax
- Norwich Union Direct
- Prudential
- Sainsbury’s Bank
- Standard Life
- Tesco
- Nationw1ide Life Insurance
- Legal And General Life Insurance
- More Than Life Insurance
Insurance Brokers are regulated by the FSA and are members of trade bodies such as IIB or BIBA and should conform to the standards of these organizations. In order to check their registration, visit FSA’s website at http://www.fsa.gov.uk/register/home.do or call 0845 606 1234.
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