One of the UK’s largest motoring organisations, are expanding their financial services range by including life insurance policies.
The AA already offer a competitive brokerage service for car, home and travel insurance, and as of 1 October they will be selling level term life insurance and mortgage protection policies.
A selling point is that they will provide customers with a quote within 30 seconds. The policies will be sold on behalf of a panel of life insurers, in a similar way they sell existing policies.
Applications can be made online at www.aalifeinsurance.com and details will then be confirmed and completed by a follow up telephone call from underwriting specialists.
The fact that the AA have been successful at selling insurance policies for car, home and travel by increasing their product range to life insurance was the next logical step. It is hoped that their good reputation and brand will help them break into the confusing market of life insurance.
Kevin Sinclair, managing director of AA Insurance, said: “Many people find applying for life assurance confusing and tend to put off buying decisions.
“We aim to make the process as quick and easy as possible with premiums amongst the cheapest available.
“While most people are happy to insure their home and their car, they could do more to protect the people closest to them, should the worst happen.”
The AA said that their research shows a quarter of homeowners do not have sufficient insurance to cover their mortgage should the main earner die. From this quarter approximately 72 per cent felt that they would probably lose their home.