Moneysworth wins Best Small Protection Advice Firm 2023!
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Moneysworth was delighted to be ‘highly commended’ by the judges at the recent COVER Magazine Excellence Awards.
We were especially pleased that our commendation came in the Outstanding Client Engagement category as this means the expert panel have recognised the quality of service we provide to our clients.
During the initial advice process, we always take time to fully explain the level of service we will provide. We then conduct a comprehensive fact finding process to ensure we fully understand your needs, circumstances and overall financial position.
The next step is to research the whole of the protection market to see if there are any life insurance, critical illness insurance and/or income protection products that you would benefit from taking out.
If we make a personal recommendation, we always explain this recommendation in detail via a Suitability Letter, and we ensure that you are provided with all of the relevant product literature for the insurer.
Once any advice process has been concluded, we remain available to answer any questions you might have, or to arrange additional insurance should you require this. For clients with special circumstances, we will contact you every 12 months to conduct a formal annual review, where we will assess whether the policies you hold are still meeting your needs.
You may be aware of the Consumer Duty, which was introduced by our regulator, the Financial Conduct Authority (FCA), on 31st July 2023.
The Consumer Duty places new obligations on financial services firms to take positive actions to ensure they deliver good outcomes for their clients.
Moneysworth wholeheartedly welcomed the introduction of the Duty. We have always been aware of the importance of treating customers fairly.
We have trained all of our advisers on our expectations of them when servicing clients, and all of our advisers undertake regular ongoing training to ensure they remain up-to-date with developments in our industry. We carry out ongoing internal monitoring of the quality of advice we provide.
We see this Highly Commended award from COVER as recognition of the efforts we make to ensure our clients receive excellent outcomes in the new Consumer Duty world.
Moneysworth is delighted to have been shortlisted once again in three categories at the 2024 COVER Magazine Excellence Awards.
These awards recognise the very best firms across the UK insurance sector. We have been shortlisted in the same categories as last year:
We won the Small Intermediary award last year and are looking to make it three wins in five years in this category, and four wins in six years if you count our 2019 victory in the Specialist Intermediary category.
Our nomination in the Specialist Intermediary category reflects the specialist service we provide to clients who may find it difficult to obtain life insurance, critical illness insurance or income protection insurance elsewhere.
We were also delighted to be shortlisted for the Client Engagement award once again, as this reflects how we always put the clients; interests first, something which is more important than ever following the introduction of Consumer Duty last year.
We were also delighted to receive this endorsement as further recognition of the positive outcomes our clients receive, which complements the superb feedback they give us on a regular basis. We were also delighted to receive the Feefo Platinum Service Award earlier this year.
We were fortunate to win one of these awards in 2023 and hope for further success at the ceremony in October.
Health & Protection is a leading publication for intermediaries, consultants and brokers in the world of healthcare, protection and financial advice.
Above all, these successes are testament to the efforts of our directors, advisers and administrators, and a fantastic acknowledgement of the quality of service we provide to our clients.
Both our clients and the industry experts have recognised that we offer the highest levels of advice and customer service, so if you are a consumer seeking life insurance, critical illness insurance or income protection insurance, get in touch with us today. If you work for a financial services firm, then you can rest assured that your clients will be in safe hands if you introduce them to Moneysworth, so please contact us to find out more about what we can offer.
You may be aware of the Consumer Duty, which was introduced by our regulator, the Financial Conduct Authority (FCA), on 31st July 2023.
The Consumer Duty places new obligations on financial services firms to take positive actions to ensure they deliver good outcomes for their clients.
Moneysworth wholeheartedly welcomed the introduction of the Duty. We have always been aware of the importance of treating customers fairly.
We have trained all of our advisers on our expectations of them when servicing clients, and all of our advisers undertake regular ongoing training to ensure they remain up-to-date with developments in our industry. We carry out ongoing internal monitoring of the quality of advice we provide.
All of our suitability letters also include a link to the Jargon Buster page of our website. We recognise that financial services terminology can sometimes be confusing. While we endeavour to ensure all of our own communications are free from jargon, we have developed this guide to help you understand the terms you might hear being used by an insurance provider, or by anyone else.
Moneysworth’s director Andrew Wilkinson talks about the adverse impact long NHS waiting times are having on the protection insurance market, and urges the new UK Government to take action. If you’re waiting for treatment, it becomes so much more likely that an insurer will decline an application for life insurance, critical illness or income protection insurance. Sadly, all too many of us are still waiting for increasingly long periods to get the treatment we need.
One of the main reasons why people might not take out the life insurance and other protection they require is that they think it would be too costly.
In 2017, insurer Sun Life asked people to estimate the likely premium for £100,000 of life cover, and the average estimate turned out to be almost five times the correct figure!
Other studies have suggested that many people believe Covid-19 has driven a significant hike in premiums, but again, this is not the case. With the Covid threat having diminished, and death rates now down around the historic average, there is no reason for the insurers, who operate in a very competitive market, to charge any more than they need to.
Moneysworth can search the entire marketplace for the most suitable product and provider for your individual circumstances. We advise on and arrange life insurance, critical illness and income protection insurance and particularly specialise in finding cover for clients with complex individual circumstances, such as those with medical conditions, or who reside outside of the UK. Contact us today to find out more.
The British Heart Foundation says that 7.6 million people in the UK are living with some form of heart condition. Whilst there are still unfortunately a number of deaths from heart-related issues, deaths due to heart issues are falling.
So what does this mean for people with a heart condition who want to take out life insurance?
An insurer is likely to regard your heart condition as an additional risk factor when assessing an application. The good news, however, is that there are insurance companies who will consider people with heart issues. There are clear benefits though to arranging your life insurance with a specialist broker such as Moneysworth.
If you have been declined by one or more insurers because of your previous heart trouble, or you have been told by another broker that your health issues mean you cannot get life insurance, then contact Moneysworth today. We have often been successful in obtaining policies for clients who have been declined elsewhere.
Having a heart condition need not necessarily mean that you have experienced a heart attack in the past. We can also assist clients who have experienced:
Moneysworth’s highly skilled and experienced team are experts in assisting people with many different mental and physical health conditions to obtain the cover that they need.
Recent examples of where we have been able to obtain cover for clients with heart issues include:
58-year-old man who had experienced a heart attack
29-year-old woman with transposed arteries and stenosis
47-year-old man with Essential Thrombosytheria
33-year-old woman who had undergone a valve replacement
44-year-old man who had undergone surgery on two occasions
These cases illustrate that it can still be possible to obtain life insurance where:
If you would like to find out more, then contact Moneysworth today!
