The UK Life Insurance Market
Life insurance is a UK invention and has now spread across the world. Here we go over the size of the market and how it used to operate and we are doing things differently.
Size of the UK Life Insurance Market
The UK insurance market is the 4th largest in the world and life insurance made up £180 Billion worth of premiums in 2019. This is expected to grow to £210 billion by 2023 (pre-covid) (here)
How it used to operate
Life insurance tends to be sold at major life events by who are authorised and regulated with approved sales processes. Most people meet them when obtaining mortgages and other financial products. This often involves long forms, intrusive medicals, family history questions and more.
How We Are Doing Things Differently
We looked at this and decided to do it better, to remove the barriers that prevent people getting life insurance.
- No Long Forms – Our process can be completed in minutes and is entirely online.
- Simple Questions – We removed tortuous questions and went with 5 simple ones.
- No Medicals – You do not need to visit the doctor to take our cover
- Instant Cover – The cover starts immediately, no waiting periods.
- Instant Access to Discount Package – We have an amazing discount package and our clients get instant access to it.
How Our Rewards Work
Our reward offer takes part of what they would spend on advertising and gives it directly to you. This means you get the saving you deserve and they receive the benefit of your custom. It is a win-win.
One of our purposes (aside from being our client’s champions for rewards) is to help British people receive life cover UK people. Llama Life has affordable premiums and an excellent reward package.
Where Do You Get Our Rewards
We do this through online portal for Llama Life customers (with premiums over £8 a month), it has hundreds of retailers offering amazing discounts. The average family can save over £1000 a year with weekly shops, days out and much much more!
You pay for live cover and get access to the rewards you deserve… win-win.
Life Insurance and Instant Rewards
These instant rewards can save you over £1000 a year, which can save you more than you pay.