Unfortunately you have given the incorrect answer and I am simply pointing this out to the member. I have spoken to Legal & General, Bright Grey, Scottish Equitable and BUPA and they all concur that no further loadings are applied to brokerages so I am unable to fathom where you are sourcing your information. Because of the number of policies we write each week we perhaps get more favourable rates but that is the only other thing I can think of.

If you would like to contact me at XXXX I will more than happily put you on to any of the heads of UK protection for these companies and I'm sure they will point out this simple misunderstanding to you.

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I am glad you quote L&G because they are the worst for loading. I have a client who has been quoted £20 against my £25 like for like. I have even rung L&G to question this anomily in the past and their answer is that broker policies are loaded to pay commissions. These quotes were done on Reliance and Assureweb. The question from the member was why are there different quotes using panels and I have given the correct answer if you take the direct route into the equation also. Brokers can compete by reducing commission payments but the fact is that it is cheaper to go direct, although I did mention the benefit of using a proffesional to assist with the application.

We're fine for business thank you. I was simply trying to stop another member of the public being misled...

Out of curiosity what are you basing this false assessment on? If you run a like for like quote through, for example Legal & General, directly and then run exactly the same quote through Exweb or Assureweb on full commission you will find that the prices are the same. The broker can then lower the premium below the 'insurer direct' price by sacrificing commission, therefore making it a more competitive price.

Common sense would suggest that if what you were saying had any accuracy then a consumer should simply find out the cheapest company from the broker and then go to the insurer directly (as this would obviously be a cheaper option). If there are any other misconceptions you would like me to clear up Ian please feel free to ask.

Adam

I'm afraid that despite looking for business as you obviously are, the fact is that premiums are loaded via the non direct route, although the difference can be reduced by sacrificing commission amounts as you say. The amount paid direct will be less but the advice obtained from an upfront broker or adviser is invaluable. Say it like it is and you will get more business:)

The above is unfortunately false. You will often find that, regardless of whether its over the telephone or online, brokers can often offer policies cheaper than going to the insurance companies directly. I can't think of a situation where it has been cheaper to go to a provider like for like as we (as is the same for most online brokerages) are able to discount the commission which therefore reduces the monthly premiums quite dramatically.

With regards to life insurance policies 99% of them are like for like. Critical Illness cover will always have a number of variables such as number of illnesses covered, additional benefits and services. The main factors that have a dramatic effect on the policy premium are whether it is Level or Decreasing term, or Guaranteed or Reviewable monthly premiums. I hope this helps.

Adam.

All policies have a loading if they are sold non direct. This allows the provider to pay commissions but that is not necessarily a bad thing. To advise on life assurance the adviser should complete a very in depth fact find, you can not assume that one policy fits all.

Hi

I asked someone from moneysupermarket to call me about life insurance + critical illness and we went through a few things but it tranpired he was limited to the policies he had available - we looked on one from Legal and General for about £35. Then I had a search on the moneysupermarket website and there is another life policy from Legal and General for £20 ? Okay I dont know the precise differences between them so a) how do I find out and b) how come this other policy wasnt available over the phone ?