Different distribution channels can offer different products, assistance, commissions, and duties.
What to compare
A useful comparison records the contract details, not merely marketing labels. Start with the following fields and use the same assumptions for each option.
- Market access
- Advice status
- Commission or fee
- Ongoing service
- Claims support
- Conflicts of interest
| Field | What to record | Why it matters |
|---|---|---|
| Market Access | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Advice Status | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Commission Or Fee | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Ongoing Service | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Claims Support | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Conflicts Of Interest | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
A practical comparison sequence
- Define the risk and the outcome you need the policy to address.
- Use identical applicant facts, dates, limits, deductibles, and options for every quote.
- Save the quote, application answers, product summary, full wording, schedule, and endorsements.
- Test at least two realistic claim scenarios against definitions, exclusions, limits, and duties.
- Verify the legal insurer and intermediary on the official local register.
- Record unanswered questions and obtain written clarification before accepting cover.
International differences
Licensing categories and duties of agents, brokers, advisers, and comparison services vary substantially.
That means a guide written for one country should not be copied into another without checking compulsory insurance, public benefits, permitted underwriting factors, disclosure duties, taxes, cancellation rules, complaint bodies, and policyholder-protection arrangements.
Common mistakes
- Assuming “independent” has the same legal meaning everywhere.
- Not asking about remuneration.
- Confusing information with advice.
Another common mistake is treating the product name as a complete description. Terms such as comprehensive, standard, premium, family, worldwide, replacement, or full cover can be marketing labels rather than standardized legal definitions.
Questions to ask before buying
- Where is market access stated in the contract, schedule, or product summary?
- Where is advice status stated in the contract, schedule, or product summary?
- Where is commission or fee stated in the contract, schedule, or product summary?
- Where is ongoing service stated in the contract, schedule, or product summary?
- Where is claims support stated in the contract, schedule, or product summary?
- Which legal entity underwrites the policy, and where can its licence be checked?
- What must happen before cover begins, and can any term change after underwriting?
- What is the complaint and dispute path for the issuing jurisdiction?