Can you get cheaper AND more comprehensive Life Cover?

Do you check to see if you can get your car insurance cheaper somewhere else every year? Maybe you also check to see if you can your home insurance cheaper with another provider? Why not check your life cover too?

Many people in the Lancashire area take out Life Cover, Income Protection or Mortgage Protection through banks, building societies and estate agents which offer a restricted/tied advice model, meaning that they only offer you products from a selected range of companies and sometimes only one company, which may be expensive compared to other cheaper and better providers in the market. The cover they offer may also not be as good as you can get elsewhere.

If you have existing cover in place, whether it’s Life Cover, Critical Illness cover, Income Protection or Mortgage Protection cover, Fernleigh Wearden & Co could save you hundreds of pounds a year by reviewing this as they have been doing with clients in the Preston and Lancashire areas for over 30 years. We will also review your existing cover for free and let you know if it is possible to save you money.

Many people are not aware of the differences between an independent financial adviser (IFA) and a normal financial adviser (or restricted/tied financial adviser to use their full titles).

If an adviser is independent, it means that they can discuss with you all financial products and most importantly, all financial companies, which may meet your needs. Most companies have differences costs and as such an Independent Financial Adviser can discuss all of these with you.

A restricted (or tied) financial adviser cannot do this, which means that you may end up paying considerably more than you need to. Don’t just take our word for this. Paul Lewis, of Radio 4’s Moneybox and a regular financial analyst on BBC News and Radio, states that he would never recommended a restricted adviser;

https://www.moneymarketing.co.uk/paul-lewis-i-would-never-recommend-a-restricted-adviser/

Mark Wearden, Chartered Financial Planner at Fernleigh Wearden & Co, writes;

When we review a clients’ policy, we often find that the cover they have in place meets their needs but is expensive and often not as comprehensive when compared to products which are available to an Independent Financial Adviser. We recommend that clients book a short 15/20 minute meeting with us to establish how much they may be able to save a month. There of course is no charge for this meeting.