Life & Health InsuranceMARKET INSIGHT REPORT 2015 Q3

November 2015




MSM Confused Go Compare CTM Family Insurance Services
Lowest price £24.50 Realm £26.40 HelpUCover £26.40 HelpUCover £24.50 Realm £20.06 National
2nd Lowest price £24.56 FirstCall Payment Protection £30.00 Realm £30.00 Realm £26.00 Assurity £24.50 Realm
3rd Lowest price £24.60 HelpUCover £30.80 Home Owner £30.80  Home Owner £26.40 HelpUCover £26.00 Assurity
Number of insurers 9 8 8 12 13

Income protection, covering £1,000 per month, for 12 months, for accident, sickness and unemployment with a 30 day excess for an employed 29 year old male, earning £40k per year living in GL52.

MSM Confused Go Compare CTM Family Insurance Services
Basic cover
hospital treatment
£28.88 Vitality £12.45 WPA £12.45 WPA £12.45 WPA £12.45 WPA
Mid-range cover £41.52 Health-On-Line £31.05 AVIVA £31.05 AVIVA £31.05 AVIVA £31.05 AVIVA
Comprehensive cover £62.49 The Exeter £44.35 AVIVA £44.35 AVIVA £46.62 General Medical £46.62 General Medical
Number of insurers 7 12 12 13 13

PMI prices based on 35 year old male, non-smoker living in GL7, with an excess of £250.

MSM Confused Go Compare CTM Family Insurance Services
Lowest price £9.35 AIG £10.86 L&G £10.62 L&G £9.87 AIG £11.01 L&G
2nd lowest price £10.68 Aviva £11.15 LV £10.79 Aviva £10.79 Aviva £11.26 LV=
3rd lowest price £10.85 LV= £11.57 AVIVA £11.30 LV= £11.30 LV= £11.79 AVIVA
Number of insurers 10 11 10 9 9

Life (Term) prices based on 35 year old male, non-smoker, living in GL7, covering £200,000, over 20 years.

MSM Confused Go Compare CTM Family Insurance Services
Lowest price N/A N/A N/A N/A £11.26 LV=
2nd lowest price N/A N/A N/A N/A £11.54 Aegon
3rd lowest price N/A N/A N/A N/A £11.61 L&G
Number of insurers 0 0 0 0 12

Life (WOL) prices based on 45 year old male, non-smoker, living in GL7, covering £10,000.

MSM Confused Go Compare CTM Family Insurance Services
Highest cover N/A £5,605 One Family £5,217 Shepherds Friendly £5,605 One Family £5,605 One Family
2nd hightest cover N/A £5,502 Shepherds Friendly £5,010 AIG £5,502 Shepherds Friendly £5,502 Shepherds Friendly
3rd highest cover N/A £5,277 AIG £4,823 L&G £5,277 AIG £5,277 AIG
Number of insurers 0 5 4 6 6

Over50s prices based on 60 year old, non-smoker, male, living in GL7 choosing a premium of £20 per month with a 24 month wait period.


In August, HM Treasury and the Financial Conduct Authority (FCA) announced their launch of a Financial Advice Market Review (FAMR). The review is currently in consultation and due to report before the Budget announcement next April (2016). As a brokerage offering an advised service we wholeheartedly agree with Tracey McDermott, Acting CEO of the FCA and co-chair of the review who stated:

“Ensuring that people have the appropriate information and advice in order to make important financial decisions is a priority”.

Assured Futures’ MD Ian Sawyer shares his thoughts on how providing an advised service impacts on clients, our business and the wider protection insurance industry:

Key Facts:

Sources: * ^ABI ~ English Housing Survey

Ian Sawyer, MD of Assured Futures gives his view:


Customer's request

A potential client called looking for a cheaper, more suitable private medical insurance policy. We found her a policy which she took out. On her former policy, she had received treatment for an injury but further treatment was no longer required and although she had had a few follow-up consultations since treatment had ceased, she was unaware of any further appointments. At the disclaimer stage of the application process, she therefore truthfully answered she had no current health issues. After taking out the policy through us, she suffered a riding accident and her injury had similar symptoms to her previous injury. She booked and attended an appointment with the consultant she had seen previously; she received treatment and was advised she would need a follow up appointment. At claim stage, her new insurer believed this to be a previous condition, treated it as a non-disclosure matter and refused to pay.

Our client called upon us to see if we could settle the matter.

Advisor's tips:

CUSTOMER COMMENT: “I cannot tell you how refreshing your approach was - I have had several phone calls [with another broker] that were so scripted and sticking to a process they seemed not to be listening to me or attempting to meet and understand my needs”


Following the budget earlier this year, the plans to reform the state benefit system are beginning to take hold however little has been heard about the changes to the Support for Mortgage Interest - the benefit homeowners may need to rely upon in order to keep up their mortgage repayments should they become unable to work. However changes made to these state payments will have an impact on many homeowners but could provide an opportunity for Accident Sickness and Unemployment policy providers.

Currently the Support Mortgage Interest is paid as a benefit direct to the lender but from April 2018 it will in effect become a loan that claimants will repay, with interest when the mortgage holder either returns to work or sells the home, whichever occurs first. In addition to this, from next April, anyone claiming Support for Mortgage Interest will have to wait 39 weeks instead of the current 13 before any benefit is received. This puts the responsibility well and truly onto the tax payer yet has had a distinct lack of publicity.

The Association of British Insurers’ Helen White wrote: “The fact is that welfare only protects the sick and disabled from absolute poverty. For most, it does not provide real financial security. Politicians should be clearer about how much the state will support you and your family”.

As members of the protection insurance industry we are aware of the solutions but due to the lack of publicity on these changes both within trade and consumer press, it seems the onus of responsibility is also on the insurance industry to increase awareness of these benefit changes. The number of households with protection policies in place is currently 11%. Increasing this number will reduce the burden on both the state and individuals.

Key Facts:

Sources: ABI



It’s not news that the NHS is struggling to cope with demand and private medical insurance uptake is increasing again. Insurers maintain there are several reasons why private medical insurance (PMI) premiums continue to rise even if you are a loyal, repeat customer.

Assured Futures’ Head of Medical Insurance, Richard Kerton, outlines the reasons for these costs and how they can be reduced by the consumer.

Increasing cost of Private Medical Insurance

Reducing the cost of premiums


Industry News

Income Protection

Life Insurance

Private Health Insurance


Ian Sawyer
Managing Director
Richard Harris
Head of Life Insurance
Richard Kerton
Head of Private Medical Insurance
Linsey Sutton
Head of Income Protection Insurance
Richard Seaman
Head of Business Development
Ros James
Marketing Manager

Family Insurance Services Logo



Please note the above represents the views of the authors only and does not constitute insurance advice.

Assured Futures Ltd is authorised and regulated by the Financial Conduct Authority (FCA).

Assured Futures, Ellenborough House, Wellington Street, Cheltenham, GL50 1AP, 01242 537 082. Registration number: 3040737.


  • Over 1,346 people will die
  • 2.2 million people of working age will be off work for at least six months at any one time
  • More than 1.57 million people are claiming Jobseeker’s Allowance
  • More than 2.56 million people are claiming Incapacity Benefit/Employment and Support Allowance
  • More than 3.2 million people are claiming Disability Living Allowance.