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The Life Insurance Market

Monday, February 01

Which? hails the quality of LifeSearch's financial advice to Asda customers @ 03:13 PM


The February 2010 edition of Which?, the magazine that champions important consumer causes, has given a big thumbs up to the quality of financial advice that LifeSearch gives to its clients after mystery shopping several high profile companies.

LifeSearch offer free independent advice for all Asda’s Life Insurance, Critical Illness and Income Protection customers. Asda are the only supermarket who offer this service. Because LifeSearch is independent, Asda customers receive advice on a whole range of products from the full spectrum of insurers. They are not tied to one company as the other supermarkets are tied.

The Which? article on page 24 says: "Asda's response was perfect but Tesco shocked our undercover researchers with its qualification process".

"Asda by contrast, gave a textbook answer. Unlike other supermarkets, all of which have direct ties with just one insurance company Asda refers callers to independent financial advisers at LifeSearch. Its adviser correctly told our researcher that he probably didn't need life insurance as he has no dependents, mortgage or significant debts, but that he should consider income protection or critical illness cover."

"Asda gets it right. If supermarkets are to sell life insurance, they should be encouraged to follow Asda's lead and tie up with an independent advice service - such as LifeSearch - to ensure their customers are making the right decisions."

Good quality Life Insurance advice is crucial yet few people have access to it. Asda’s decision to give its customers access to independent advice ensures that the man on the street is able to receive the same guidance when buying insurance that was previously the preserve of the few. -- 1 comments: View - Post your own comment

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