Beagle Street releases the pounds to highlight Life Insurance price gap

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Independent research has revealed that the average Brit is overpaying on their Life Insurance to the tune of £116 every single year [1]. That adds up to £3,480 over a 30-year term.

No wonder, then, that 87% of people feel nervous about getting Life Insurance because they feel it costs too much, and 76% feel the insurance industry itself isn’t doing enough to promote transparency.

When Beagle Street sniffed out this research, we decided to help matters by doing what we do best: Putting cash back into people’s pockets. Our team of origami experts clocked in more than 125 hours carefully folding 500 origami beagles, each made out of a crisp £10 note.

This pack of hounds was then unleashed across London, and strategically placed before being snatched up by lucky passers-by in a matter of minutes.

Take a look at the video showing the prep that went into releasing the pounds, and the look on people’s faces when they found that the lovely little paper dog they just spotted was, in fact, a tenner. Well, you’d be delighted, wouldn’t you?

Of course, it does carry a serious message. Life Insurance premiums can work out wildly different, depending on who provides the cover. Take, for example, someone aged 30, a non-smoker, who takes out £100,000 worth of Level-Term Life Insurance for 30 a 30-year term.

That person can potentially pay anywhere from £5.35, all the way up to £9.23 each month. It’s never been more important to carefully assess who you trust to provide your Life Insurance cover.

The study showed that, in the above example, going with Beagle Street would save that person 26% each month, compared to the market average. This is a running theme across the board. Even a (hypothetical) 40-year old smoker taking out the same cover would save 25% with us.

Our Managing Director, Matthew Gledhill, commented:

“Hopefully our £10 note beagles will put a smile on people’s faces and pounds back into their pockets. The life insurance industry has been slow to adapt to the online revolution, but just as companies have used the Internet to slash the cost of services from air travel to accommodation, Beagle Street is using technology to remove unnecessary costs from life insurance.

We’ve eliminated middlemen, medicals and meetings for example, which has meant passing on savings to customers who pay 30 per cent cheaper premiums on average.”

This campaign is just part of Beagle Street’s ongoing commitment to making Life Insurance accessible, crystal clear and fairly priced for ordinary people everywhere.

Has this got you thinking about how much you could put back into your own pocket with Beagle Street? Get in touch today and let’s talk about how you can best protect your loved ones for the future.

Originally released: March 2015

Appendix

  1. Moneyfacts Group plc – Investment Life and Pensions – March 2015