Choosing The Right Life Insurance

Choosing the right Life Insurance company or policy can be an incredibly time consuming and daunting affair. With so many different companies, benefits and policies to choose from, you would be forgiven if an otherwise calm persona comes close to breaking point.

With this in mind our lovely department at Manor Financial have created a useful article on where to start, some do’s and don’ts and most importantly, ensure that you end up with the right insurance policy!

Research Life Insurance Companies

Do your homework! Good research will allow you to source a list of credible companies operating over both local and national markets, something which we would strongly urge people to do.

Most people can find the UK’s biggest insurance providers with relative ease. They have bigger marketing budgets, TV and Radio exposure and are on most price comparison sites however, bigger doesn’t necessarily mean better!

Searching locally can often be more beneficial as most people tend to find the services offered by smaller companies tend to be more personable, affordable and come with better customer service.

Once you have compiled a list of companies it is time to check their reviews. All credible companies will have nothing to hide. You can find reviews on social profiles like Facebook, Google Business and trusted review platforms such as Feefo, Trustpilot and many more.

Choose a budget and stick with it

Many companies both national and local will have incentives in place for staff to effectively try and ‘upsell’ customers in a bid to earn commission and other bonuses, and whilst this isn’t illegal it can be frowned upon especially if there are better products on the market that are cheaper.

If a company continues to try and upsell it may be best to walk away as this would suggest the company is geared up towards sales rather than retention.

Companies should try and work towards your budget. Not the other way round.

The bottom line

The ‘best company’ for you is the company that provides you with honest recommendations into all products and prices, has solid customer reviews, great customer service and the financial capability to uphold their financial obligations to you and your beneficiaries when required.

Once you are confident about your policy and provider you can look over the below do’s and don’ts.

Life insurance policy do’s

Review your policy on a regular basis – Doing so will allow you to make amendments as your circumstances change ie, having children, quitting smoking, new house etc. etc.

Ensure your policy covers all debts – As the above states, make sure your debts are covered. From loans, credit cards and mortgages.

Place your Life Insurance Policy in trust – This will ensure that any pay-out made on your life insurance policy will not be subject to any inheritance tax laws. The forms required can be obtained from your insurance company, are easy to fill in and are completely free!

Grab it whilst its hot – Please excuse the American-esque title but life insurance policies are cheaper to buy the younger you are. What seems like an unnecessary expense now will provide a huge benefit to your loved ones should anything happen so if you see a policy that will not affect your lifestyle, welcome it with open arms!

Life Insurance Don’ts

Don’t accept the rate offered by your mortgage lender – This is a case where the lenders will try and upsell life insurance and often at an inflated cost. Remember, choosing a company that specialises in insurance policies will often offer a range of policies based on your criteria as well as being a lot cheaper!

Future costs should be taken into account – When looking over outgoings it is common to forget costings such as home improvement, vehicle issues and school / university fees.

Do not buy joint life insurance if you do not need it! Like all market places, products and services change and so do costs! It used to be a well known fact that taking out a joint life insurance policy with your partner would work out cheaper than two separate policies. This isn’t the case anymore and will come down to good research.

An added benefit is that with two separate policies, if one policy holder passes away, the other policy holder can keep their policy effectively doubling your cover!

Should you have any questions regarding our life insurance policies, wish to speak with an advisor or simply require a friendly, no-obligation consultation please contact one of our Manor Financial team on 0161 976 9938.


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Manor Financial is a trading name of Manor Financial Advice Ltd. Manor Financial Advice Ltd is authorised and regulated by the Financial Conduct Authority under registration number 810808. The company is incorporated in England and Wales (no. 07728991)


You will receive £50 Marks & Spencers vouchers once their policy has been completed and in place for a minimum of 6 months.