London, Uk (PressExposure) November 05, 2009 -- A new life insurance and protection comparison service providing customers with greater choice, simplicity and price transparency than any other website in the UK launches on November 4th 2009.
Customers using Money-Minder.com to find and compare online quotes for life insurance, critical illness cover, income protection or mortgage protection using the siteâs quick quote service or Finance Navigator wizards will see four possible monthly premiums displayed on the comparison results page from the cheapest flat fee option up to face to face advice. Customers can compare products from 16 insurers on Money-Minder.com including Legal & General, LV, Aviva, AXA, Friends Provident, BUPA and Zurich.
Money-Minderâs comparison results page gives customers unprecedented choice and transparency when deciding how to buy the best life insurance cover. The four price options are displayed side by side giving the clearest indication of the savings which can be made if consumers are confident in making their own choice or the cost of advice from a qualified IFA either over the phone or face to face. The prices displayed comprise:
1. Flat Fee: The cheapest monthly premium as Money-Minder give up all the initial commission. The customer prints off and completes the application form and Money-Minder process it for a one off Â£35 fee. 2. Minimum Hassle: The customer provides a few details and Money-Minder do the rest. Thereâs no processing fee but the monthly premiums are usually slightly higher. 3. Advice over the phone: Money-Minder will call at a time to suit the customer, give them advice over the phone and handle all the paperwork. 4. Face to Face advice: Money-Minder will arrange for a Money-Minder approved IFA to meet the customer at a time to suit them.
On launching the new service Ray Black, Managing Director of Money-Minder.com, said: âThis launch marks a break though in giving customers the ultimate choice and transparency when searching for life insurance and other protection products online. Until now customers have had to go to different websites and carry out multiple quotations in order to get the information we now show clearly on a single results page. Comparision sites are sometimes criticised for not displaying enough information and we believe Money-Minder.com has just raised the bar in giving customers more information more clearly than any other life insurance and protection products comparison service.â
Another of Money-Minder.comâs pledges will be widely welcomed by customers who dislike being harried by telephone salespeople.
âNeither we nor anyone else will telephone you unless you specifically ask us to.â Ray Black added. âUnfortunately many so-called online quote services for life insurance donât give you an online quote at all. They are just a front for hoodwinking customers into giving up their personal details and phone number which will then be sold on to a broker who will call them and try to sell them a policy over the phone, sometimes calling the customer two or three times a week until they get the sale. Iâm sure if customers thought that was going to happen theyâd avoid those sites like the plague. If you use Money-Minder.com to get a life or protection quote, no one will call you unless you specifically ask us to provide life assurance advice. Thatâs a promise.â
The Money-Minder.com service is also unique in that unlike other life insurance and protection websites it doesnât require customers to choose an advised or âexecution onlyâ route to their purchase at the very start of the process. Money-Minderâs Finance Navigator wizards will guide customers to suitable options using a series of simple but carefully designed questions and answers.
Visitors can use Money Minder's Finance Navigators to review their financial planning needs independently, for free, at any time of day or night. The life insurance calculator, critical illness calculator, mortgage protection and income protection calculators even allow users to enter details of their existing policies to ensure that the personalised report they receive is specific to their own circumstances.
By using the Finance Navigator and the personalised report the customer may decide that when they reach the comparison results page they are confident to make a purchase without needing advice. However, if they are uncertain they still have the option to seek advice at that point and can clearly see the effect this will have on their monthly premium.
Ray Black said: âItâs completely ridiculous that a customer should have to choose an execution only or advised service route at the start of their search when they have had very little information to base this decision on. For a straightforward product such as term assurance some simple guidance and explanations may be all thatâs needed for a customer to go ahead and choose a product without advice. However if they selected an advised route at the start they wouldnât be aware of the savings they could make by choosing a flat fee approach instead.â
Ray is also certain that many customers will be surprised at what little difference the cost of advice can make to their monthly premium, especially for term assurance policies.
âAlthough the monthly premium for a policy bought with advice is going to be higher than a non advised purchase, Money-Minder.com customers can choose to take advice knowing what effect this will have on their premiums. For some customers, paying slightly more each month for the benefit of professional advice will be worth it and now with Money-Minder.com they can see exactly how much that advice will cost them.â
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Jason Wyer-Smith at 42 PR on 07824 818242 Email: email@example.com
Ray Black at Money-Minder.com 01529 300300 Email: firstname.lastname@example.org
Notes to Editors:
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Money-Minder.com was founded and created by Ray Black, Dip PFS, an Independent Financial Adviser. Money-Minder.com is online personal finance website that incorporates an exclusive and unique interactive comparison service providing free genuinely online quotes and is full of useful information to help customers choose the right cover and product to suit their needs.
The site currently provides comparisons on life and protection products - term assurance, critical illness, mortgage protection and income protection. The siteâs âFinance Navigatorsâ help customers to make their own informed choices and decisions but Money-Minder also provides easy access to highly qualified independent financial advisers (IFAs) if required.
Money-Minder.com is fully authorised and regulated by the Financial Services Authority (FSA)