Occasionally a hobby or occupation can make heavy weather of getting insurance. However, if you speak to the experts at PayingTooMuch.com, we can help steer you through the process and find the best deal for you.
“My first application for life insurance came when I went through the process of buying my first house” explains Chris Blackwell, 33 from Bristol.
“Life insurance was strongly recommended by my mortgage company. I needed a levelterm policy for £200,000 over 35 years for my wife and I. We approached a company I found online to source me a quote but when I explained that I was a private pilot the quote increased by over double the initial price to £33.74 a month.
“I did some more research online and came across PayingTooMuch.com. I gave them a call and spoke to Rob Dales and when I explained all the details and the problems I was having Rob said he could almost certainly help”
The underwriting process
After applying for life insurance customers go through an underwriting process where they will answer questions on health and lifestyle. If anything comes up which increases the risk of death, insurers may increase the quoted premium. This increase is called a ‘rating’and the customer will be informed of the underwriting decision and asked if they still wish to proceed and pay the higher premium.
Rob Dales is PayingTooMuch.com’s life insurance expert. Everyday he helps customers find the best price for their specific needs. Rob recalls: “Mr Blackwell challenged me to beat his quote, which I did. After chatting to him and doing an initial quote, I rang the insurance companies asking them how much of a rating they applied to private flying.
“Initially Aegon was the cheapest option as they don’t apply a rating on a pilot who flies less than 100 hours a year. However, as Mr Blackwell didn’t have the required minimum 250hours total, Aegon tripled the premium. Royal London was the next best option. They didn’t apply a rating because he flies under 50 hours a year and were only £1.35 a month more expensive than the initial Aegon quote”
On the service Mr Blackwell received from PayingTooMuch.com, he says: “Rob was first class; helpful, friendly and very knowledgeable. The final price of £21.05 per month is a lot less than other quotes I received and I have complete peace of mind that all my flying activities are covered.
“Thanks to everyone at PayingTooMuch.com for all your help.”
