Advised vs Non-Advised


When it comes to buying Private Medical Insurance, not all brokers and intermediaries are created evenly. At Usay Compare, we offer a fully advised service, but what does that actually mean? And why is better Health Insurance advice so important? We explain everything you need to know.

Why do I need advice?

Comparing Health Insurance is enough to make your head spin. Cover is complex, policies are personalised and there is usually a load of technical medical underwriting terms to get your head around.

Most policies are modular; they offer a pick-and-mix of benefits and underwriting options. This is great for personalising the policy to suit your exact needs but it makes the options seemingly endless. There are so many variables involved, that making a direct comparison without being an experienced expert, is virtually impossible.

Why is advice so important?

Some policies and insurers will suit some people much better than others and equivalent cover can vary in price a lot. You could therefore be missing out on huge savings if you just go to one insurer direct to look for a policy or a broker which can’t offer you any advice. Find out how much we could save you.

The worst part of buying a policy without specialist advice, is that it often won’t be until the point you want to make a claim that you come to realise your policy is lacking. Perhaps something important to you is not covered or there is an exclusion you were unaware of. With an advised service, your adviser will take care of all the eventualities and give you peace of mind that whatever is important to you is protected. They will also be able to explain it all to you in plain English, and it won’t take all day!

What is the definition of advised?

Not all companies can or do offer advice, so some are ‘advised’ services, and some are ‘non-advised’; but it’s not always obvious to the uninitiated which are which. The term ‘advised sales’ relates to how advisers give a customer advice about the product or service they will be receiving. Characteristics of an advised sale would include:

  • The adviser explaining how and why a policy would meet your demands and needs
  • The advisers can compare a wide variety of insurance companies and policies across the market, not just offer information on one
  • Giving their recommendation tailored to your specific requirements

With ‘non-advised’ sales, intermediaries or brokers are not able to make any personal recommendation and can only provide generic information about the products, leaving you to figure out for yourself the best policy to suit your needs.

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Advice regulation

Not just anyone can offer advice, an advised service like Usay Compare requires specific permission from the Financial Conduct Authority and will have an FCA reference number. The full definition of advised sales is available in the FCA handbook. Usay Compare is fully authorised and regulated by the Financial Conduct Authority (reference number 478676) and therefore able to offer expert advice and recommendations on all the UK’s leading insurance companies.

We don’t stop there though. We go above and beyond with the training, monitoring and quality assurance of our advisers to ensure they continue to provide the exceptional advice and service we have become known for. Our bespoke comparison technology also supports the process and allows the advisers to find the best possible deals, with live prices direct from insurers.

What will your adviser compare and advise on?

As mentioned above, there are many different options for you to decide when thinking about Private Medical Insurance. However, most of those choices and factors affecting premium suitability and prices, fit into two categories:

  1. Your circumstances
  2. Your chosen level of cover.

Whilst your circumstances – things like your age and where you live - can have a big influence on your policy premiums, they are not things you are likely to be able to change. The level of cover however, is all up to you - you can pick and choose the things which are important to you and those which fit your budget. This is where an open and honest conversation with an experienced adviser is so important. Private Medical Inusurance is not like home, car or holiday insurance which can be compared with a simple search. It requires a conversation to establish an understanding of your circumstances and requirements, which then allows an adviser to find you the best policy.  

The advised sale process

So what does an advised sale journey look like? Step by step:

  1. Advisers will get to know your needs, circumstances and what is important to you
  2. They will then be able to recommend and explain suitable types of policies
  3. They will go through in detail and advise on the policy features and benefits
  4. Advisers will then go into more detail on the level and type of cover, explain any products or discounts which can be relevant
  5. Then advisers would explain policy statements and terms and conditions, answering any questions and putting anything confusing into plain English

The support doesn’t stop there either. At any point throughout the duration of your policy and beyond, your adviser is there for you to answer any questions, assist if you need to make a claim and to reassess your policy at renewal.

Here at Usay Compare our fully advised service is completely free, we have incredibly experienced and knowledgeable advisers and we compare all the UK’s leading insurers. There really is no good reason not to use our service.

As one of our clients, Richard, said in his review, it’s a ‘no-brainer’.

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