If you’re a dad looking for life insurance, you’ve likely come across Tom.
Visiting Tom’s website, you’ll find that their services are offered without charge to you.
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If you’re a dad looking for life insurance, you’ve likely come across Tom.co.uk (Tom), the trading name of Candid Insurance Services. Candid Insurance Services was established in 2019 following a significant acquisition and rebranding.
Tom has a strong social media presence and attracts many customers through these channels. Let’s examine Tom, its operational approach, and whether it’s the right life insurance option for you.
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Tom is an insurance broker offering services to dads in the UK
Tom is an insurance broker dedicated to providing services to fathers in the UK. Their primary goal is to offer life insurance to fathers who have financially dependent children and other family members.
It’s crucial to consider your family’s financial security in the event of your passing. Would they be able to manage mortgage payments, debts, funeral expenses, and everyday living costs without your income? Tom offers life insurance designed to protect your family and provide you with peace of mind.
Firstly, Tom operates as an insurance broker. This means you won’t purchase insurance directly from Tom, but rather through their network of trusted partner companies. Tom states that all its partners are authorised by the Financial Conduct Authority (FCA). However, a public list of Tom’s partner companies is not readily available.
Tom also does not provide an online calculator or instant quote system. To receive a quote from Tom, you need to enter your details on their website. Subsequently, an advisor will contact you to gather essential information, such as your medical history, desired coverage level, and the type of insurance policy you are interested in. This is different from providers offering immediate life insurance cover.
We compare plans from the leading life insurance providers
Visiting Tom’s website, you’ll find that their services are offered without charge to you. Tom’s revenue is generated through commissions paid by their partner network when customers take out a policy.
Once an advisor contacts you, they will collect all necessary information and then identify the most suitable deal from their partners. This approach can often lead to more competitive premiums compared to traditional insurance companies. To understand how life insurance works in the UK, it’s beneficial to consider different providers and their approaches.
Tom provides several benefits to customers, which may influence your decision:
As mentioned, Tom’s services are free to use. To obtain a quote, you will need to discuss your needs with one of their advisors over the phone, as they do not currently have an online quote calculator. Tom explains that this personalised approach allows for a better understanding of your specific requirements and helps them find the most appropriate policy for you.
Generally, insurance providers assess factors such as your age, occupation, gender, coverage amount, medical history, health status, and smoking habits to calculate your premium. If you find your premiums are high, consider adjusting modifiable factors like reducing participation in hazardous activities or quitting smoking. Understanding the average life insurance cost in the UK can also help you gauge the competitiveness of a quote.
Currently, ratings from well-known and trusted sources like Fairer Finance or Defaqto for Tom’s insurance services are not available. However, Tom has a strong 4.5-star rating on Trustpilot, based on customer reviews.
If you’re new to life insurance policies, these tips are helpful:
Compare: It’s wise to shop around and obtain quotes from multiple providers to compare policies and find the best value. Insurance prices can vary, so checking with several providers is always recommended.
Be Thorough: Carefully review all policy details with the insurance provider. Ensure you understand the coverage to avoid potential claim issues due to overlooked exclusions. Thorough examination ensures you only pay for necessary coverage. It’s also important to understand reasons life insurance won’t pay out to ensure your policy meets your expectations.
Lower Premiums: You can potentially reduce your premium by modifying certain lifestyle factors. For instance, smoking significantly increases insurance costs. If you have a partner, consider a joint policy, as it is typically more economical than two individual policies.
If you are not a dad, your decision might be simpler as Tom specifically focuses on serving fathers in the UK, particularly those with financially dependent children and family members.
Tom has assisted over 50,000 families in securing life insurance since its inception. This demonstrates that they are a brand trusted by many fathers nationwide. Their partner network is FCA authorised, offering additional reassurance.
The advantages of using Tom are significant. They can often find excellent deals, and numerous online reviews indicate customers have found the most competitive premiums through Tom. Furthermore, the £1 donation to Balls to Cancer for each quote is a commendable initiative.
However, there are a couple of points to consider. Tom does not offer an online insurance calculator, requiring you to speak with an advisor. This can be beneficial if you prefer detailed discussions about your needs, but it prevents quick online browsing and comparison with other providers.
Another frequently mentioned point in reviews is the volume of calls from advisors after submitting your details for a quote. Therefore, ensure you are genuinely interested in their service before providing your information.