A common question people ask when searching for life insurance is: Do I have to pay a life insurance broker? The short answer is no – in most cases, you do not pay anything directly to a broker for their advice or services. Instead, brokers are usually paid by the insurance providers once a policy is set up.
But it is worth understanding how brokers work, how they get paid, and why using one could save you money and time compared to going directly to an insurer.
How life insurance brokers are paid
Life insurance brokers typically do not charge customers a fee (we have never and will never). Instead, they earn commission from the insurance provider when they arrange a policy for you.
Commission explained
- When you take out a life insurance policy, the insurer pays the broker a commission.
- Some brokers may charge an additional advice fee, but this is uncommon in the UK. If there are any fees, they must be clearly explained to you before you proceed. At IGotCover, we will never charge a fee for our service,
Why use a broker if insurers pay them?
It is natural to wonder if a broker is truly acting in your best interest when they are paid by insurers. However, regulated life insurance brokers in the UK must follow strict rules set by the Financial Conduct Authority (FCA). This means they must give you fair and suitable advice.
Benefits of using a broker
- Access to multiple insurers – Brokers can compare policies across the market, instead of offering just one insurer’s product.
- Tailored advice – They recommend policies based on your personal situation, health, and financial needs.
- Time-saving – Brokers handle the paperwork, medical questions, and insurer communication on your behalf.
- Help with claims – Some brokers offer ongoing support, guiding families through the claims process.
Pros of using a broker
- No direct cost in most cases.
- Access to a wide range of insurers.
- Expert advice tailored to your needs.
- Saves you time and effort.
- Ongoing support with claims or policy changes.
Why choose IGotCover?
When it comes to protecting your family, choosing the right broker matters. Unlike others, we have never and will never charge fees to our customers. Our service is completely free, and we have already helped thousands of people find the right protection for their needs. Our 4.9 star rating on Trustpilot proves this,
We also go further than simply arranging a policy, we provide a free trust service to make sure your payout goes directly to the people you choose, and a dedicated claims service to support your loved ones at the time they need it most. With us, you receive expert advice, personal care, and long-term support without ever paying a penny in fees.
With nearly ten thousand Trustpilot reviews and a 4.9 star rating, when you
Final thoughts
So, do you have to pay a life insurance broker? For most people in the UK, the answer is no. Brokers are typically paid by the insurer, not the customer. This means you can benefit from expert advice and market comparisons at no extra cost.
Choosing a broker can save you time, help you find better terms, and ensure you get the right protection for your family or business. If you are unsure about going it alone, working with a broker is a smart and cost-effective way to secure life insurance.
At IGotCover, our team of specialists can compare the UK’s leading providers and help you secure the right policy for your needs – all without you paying us a penny. Get started with your free quote today!
