Working with PCWs to Simplify Life Insurance

Buying life insurance can feel overwhelming, with countless providers, policies and prices to consider. That’s where LifeSearch steps in, partnering with price comparison websites (PCWs) to help customers quickly compare multiple policies and find the right coverage that best suits their needs.

In this guide, we’ll walk you through the different ways to buy life insurance, explain how PCWs work, and show how LifeSearch partners with these platforms to help protect you properly.

What Is a Price Comparison Website?

A price comparison website (PCW) is an online platform that lets you compare financial products, like life insurance, across multiple providers in one place. Instead of visiting individual insurers one by one, a PCW brings all the options together, showing differences in coverage, features and pricing at a glance. Importantly, the PCW journey itself is a non-advised process, meaning the website presents information and options but does not recommend or tailor products to a customer’s individual circumstances. Customers who want more tailored guidance can still access fee-free advice or purchase cover over the phone at any point if that is the best option for them. It’s important to note that not all providers choose to list their products on PCWs, so customers may not see the full market when relying on them alone.

How does a PCW work?

How a PCW Works for Life Insurance:

1. Enter your details - Information such as age, health, lifestyle and coverage needs.
2. The platform searched providers - The PCW scans multiple life insurance companies to identify policies that match your requirements.
3. Comparison of quotes - You see side-by-side comparisons, making it easier to find protection to suit your needs.
4. Direct application - Many PCWs let you apply directly through their platform or redirect you to the insurer’s website to complete your policy, without having to speak to anyone on the phone.
5. Offline journey - Some PCWs may follow up with phone calls or connect you with advisers who can guide you through options and help complete the application offline.

Advised vs Non-Advised

It’s also important to understand the difference between advised and non-advised routes. A price comparison website (PCW) journey is typically non-advised, meaning you compare and choose policies yourself without tailored recommendations. However, through LifeSearch’s partnerships with PCWs, customers who want extra support can move seamlessly into an advised journey, where our experts provide guidance based on their individual needs. This brings our philosophy to life: digital when you want it, human when you need it.

LifeSearch’s Approach

LifeSearch partners with two of the UK’s leading PCWs, MoneySuperMarket and Compare the Market, to make buying life insurance and other protection products easier. We power the online journey, enabling customers to compare and purchase cover directly through the PCW in a clear and straightforward way.

As their exclusive protection provider, if you want to talk it through with an expert adviser, LifeSearch are able to provide fee-free advice via telephone to customers who opt in during the application process on the PCW.

Whilst your policy will always be taken out directly with your chosen provider, LifeSearch is there to assist you at every step - from taking out your cover to making a claim.

MoneySuperMarket

Through our partnership with MoneySuperMarket, you can compare life insurance options quickly and easily, with the added benefit of expert advice from LifeSearch if you want it. Explore life insurance with MoneySuperMarket here.

Compare the Market

With Compare the Market, you can review protection products side by side and, if you choose, speak directly to a LifeSearch adviser for tailored, fee-free guidance. Find out more about life insurance with Compare the Market here.

Benefits of Partnering with PCWs

By partnering with PCWs, LifeSearch makes buying life insurance more straightforward, efficient and trustworthy. Here are the key benefits of this approach:

• Quick and easy comparison - Access multiple policies from different insurers in one place, saving time and effort.
• Transparent pricing - See side-by-side premiums and coverage options, so you can easily make an informed decision.
• Expert guidance with a human touch - Real people are available to answer questions, provide advice and guide you through applications and claims, so you’re never just navigating the process alone.

Alternative Ways to Buy Life Insurance

There are several alternative ways to buy life insurance, each with its own advantages:

• Direct from an insurance provider - You can purchase life insurance straight from the insurer, either online, over the phone or in person. This gives you direct access to the insurer and their policies, but it can take time to research multiple providers to find the best price and coverage.
• Through a protection adviser or broker – Protection advisers and brokers can recommend policies from multiple insurers based on your situation and protection needs. At LifeSearch, we’re one of the UK’s leading independent brokers, helping people find the right protection for over 25 years. Find out more about us here.
• Through a financial adviser - Financial advisers can also arrange protection products, helping you see how life insurance, income protection and critical illness cover fit alongside your wider financial plans. This approach ensures your protection needs are properly considered as part of securing your family’s long-term financial security. However, it’s important to note that financial advisers often charge a fee for their services, unlike most brokers or PCWs.

Support Every Step of the Way

Buying life insurance doesn’t have to be complicated. By using price comparison websites through LifeSearch, you can quickly compare policies, find competitive rates, and ensure your loved ones are properly protected - all with expert guidance every step of the way.

If you’d like to speak to somebody about getting the right coverage for your family, speak to a LifeSearch adviser today. Our team can answer your questions, guide you through your options, and help you take the next step toward peace of mind.