Good insurance at a fair price, but the payment options are awful.
My cover was due to start on 25/8, and I chose to pay annually, as usual. I was told the premium would be taken from my bank on 25/8. I then had a letter by email which said in the first paragraph it would be taken on 25/5, then in the second it said 3/9.
When it still hadn't been taken by 28/8, I contacted Premium Credit to confirm details. They replied the next day telling me the payment was due on 25/8, so they would be setting up the mandate on 29/8 (didn't explain why it was later than when the premium was due/cover was supposed to start) and the payment would come out on 3/8 (yes, it did say August) and then regular payments would resume on the 25th of each month.
I replied, again asking for confirmation of details as I assumed they meant September, but there should only be a single payment. I got the reply this morning to confirm the correct details.
Insure4Retirement seem like a reasonable company, and they were able to offer the higher level of cover I wanted at a good price. I can't comment on them other than that, as I haven't had occasion to test the service offered when a claim needs to be made, but they really need to sort out their payment options, as I seem to recall similar difficulties last year. An option to take payments over the phone would be good, or maybe just a more reliable company capable of writing a single letter correctly and processing a payment on time! I assume I'm covered if I need the insurance before September, but this hasn't been made clear yet either.
I feel I can only give three stars as the payment processing is poor, which significantly drags down what would otherwise have been a smooth experience. In fact, the payment process is so bad, it might even make me look somewhere else for insurance next year.
29 August 2014
Unprompted review