Can I trust an insurance advisor?

Many are paid by commission, and they must tell you so. But the law does not see them as mere salespeople: they must establish your needs, propose something consistent with them and act in your best interests. How each one works shows in the questions they ask you.

We are sorry that has been your experience. A professional starts from your needs and can also tell you “you do not need anything more yet”. Ask them to explain in writing why a proposal suits you; if they cannot, do not continue.

Your contract is with the insurer and continues as normal. Ask the insurer who will service your policy from now on, and keep the documents and the insurer’s contact details.

The Insurance Companies Control Service keeps a register of intermediaries. Ask for the intermediary’s full name and registration number and check them there. We explain it step by step in a separate article.

A tied intermediary works under contract with specific insurers, while a broker usually compares products from many. Both must tell you which applies, and whether their advice rests on a fair analysis of the market.

A simple, polite sentence is enough: “Thank you, I am not interested at the moment. If anything changes, I will be in touch.” You owe no explanation. If the calls continue, ask in writing for them to stop.

Yes, if they advise you: they must give a personalised recommendation explaining why the product meets your demands and needs. For investment products, with a written suitability statement before the contract.

The intermediary has legal duties to inform and advise properly. If you believe they gave you wrong information, make a written complaint and, if needed, go to the Financial Ombudsman. For specific liability and compensation, legal advice is worthwhile.

A good advisor helps you review your policies when your life changes, answers questions, reminds you of renewals and beneficiaries, and stands by the family in a claim. Ask beforehand exactly what they do after the sale.

Ask now, and ask for it in writing. Many advisors help families with the documents and contact with the insurer. In any case, the family can go directly to the insurer.

Time pressure is a signal to stop. Ask for the documents to read at your own pace. On an individual life policy the law also gives you 30 calendar days to cancel after it is concluded (with exceptions, such as policies that secure a loan); but it is better to decide before you sign.

Yes. Intermediaries’ knowledge and competence must rest on at least 15 hours of professional training or development a year.

Usually yes: the contract is with the insurer. Ask the insurer how to change the intermediary on your policy. Do not cancel the policy just to change advisor.

For example: Are you registered, and under which number? How are you paid? Are you tied to specific insurers? Why does this suit me? What does it not cover? What do you do after signing and at claim time? The answers, and the willingness to give them in writing, say a lot.

It depends on the type of intermediary, and they must tell you. In every case, the law requires them to act in your best interests.

For investment products, the advisor must assess knowledge, finances, ability to bear losses, objectives and risk tolerance, and give a written suitability statement. If your father did not receive one, or the proposal does not fit his goals and horizon, he can make a written complaint. If he was told less than 30 days ago that the policy had been concluded, he can still cancel it in writing.

It is the record of your demands and needs before any contract; the proposal must be consistent with them. Ask for a copy of the form completed for you.

At least once a year, and whenever something big changes: marriage, a child, a loan, a job, a divorce.

Contact the insurer directly; the contract is with them. Ask who now services your policy.

That image was built from real bad experiences. We are not asking you to trust the profession; we ask you to judge the person by specific criteria: registration, transparency on pay, a written explanation, no time pressure.

Yes. Whatever is written can be read again, compared and, if needed, used in a complaint.

They can explain the products of the insurers they work with well, but not compare the whole market. They must tell you they are tied. If you want a comparison, get other quotes too.

Among other things: who they are and how to check their registration, what kind of pay they receive, whether they are tied to insurers, how to complain, the product information document, and for investment products the Key Information Document, the costs and the suitability statement.