Life Insurance

If you get it from me and you don't make a claim (die) during the term of the plan, you get all your premiums back.

Can anyone explain how Norwich Union can insure a 61 year old for 200K for

28 years for 219.20 per month? Seems like a bad deal for them, so no doubt I'm missing something.

In message , financefan writes

No, your only advising them of ONE choice and misleading them about the others.

Yes they can, they can advise a client to buy any financial product from anybody.

Sadly, some are like this but, gladly, most are not. When inspected an IFA has to justify his choice to the FSA.,

And fee based IFAs will advise them to go to HBOS if that is the best deal. What they CAN do and what you CANT do is to talk and advise the client about the HBOS product. Thankfully it would be illegal for you to do so, and I say 'thankfully' because you have little knowledge of other providers products.

I am not advising anybody to do anything. I am simply providing a means in which to buy this type of cover should they so wish.

Yes, they could advise it however, the customer would still have to purchase directly.

As does a 'tied' financial adviser and beleive me they will find a way to justify it.

I think it would be highly unlikely that anyone would want to pay an IFA to tell them who does the 'cheapest' insurance??

As an insurance representative of my specific company, my job does not entail knowing about other providers products nor is it my job to provide 'advice' to customers. My job is to provide customers with quotes and advise them that they will get all their premiums back at the end of the term if they do not make a claim. If the customer is happy with the details and find it is cheaper than what they are paying at the moment, then the customer is happy and I am happy at having provided them with such an excellent product in addition, safe in the knowledge that they will be getting back a nice lump sum at the end of the term that they otherwise would not have got had they got their insurance elsewhere.

Thanks (again) for your comments

In message , financefan writes

Your said you were "

You are not, you are telling them only about the product you want to sell to them.

Of course.

Eh? A tied adviser has only to justify the generic product type, whilst an IFA has also got to justify the provider. You said that an IFA would be influenced by commission, my point is that he cant be.

What world do you live in? Clients go to an IFA for advice. Thats what the A stands for.

But in your earlier posts you have made assertions about other products in justification of the product you are selling that were quite incorrect. Do you tell your customers they same rubbish that you quoted here?

Eh?

Eh? You really havent got the gist of this have you?

And for yours.................

"john boyle" wrote

:-) I thought the same, but couldn't think of a way to put it which was as good as John's comment!

Unfortunately, Angela (financefan) has already stated: "I have had a lot of response from my postings." So the answer to John's question must be, effectively, "yes" - as (at least some of) the customers have read the postings. :-((

I pity anyone who is taken in by all this blurb ....

Thanks for the advice... Decided to go with the Halifax for life Insureance.