If you’re a dad on the market for life insurance, you have probably come across Tom.co.uk (Tom), the trading name of Candid Insurance Services. The latter was founded in 2019, after a significant acquisition and rebranding process.
The company has a solid social media presence and attracts many of its customers that way. Below, we take a closer look at Tom, its operational model, and whether it’s the right choice for you.
Tom is an insurance broker offering services to dads in the UK. They aim to provide cover to fathers with financially dependent children and other family members.
It’s a good idea to question whether your family will be financially protected if you pass away. Would they be able to cover mortgage payments, debt, funeral costs, and living costs without your salary? Tom offers life insurance that can protect your family and give you some peace of mind.
For one, Tom is an insurance broker, so you won’t be buying insurance from them but rather from their network of trusted partners. The firm states that all its partners are FCA authorised. However, we couldn’t find a list of companies Tom regularly works with.
Tom doesn’t also have an online calculator and quick quote system. To get a quote through the company, you need to input your details online. You will then get a call from an advisor that will ask you for vital information, such as medical history, coverage level and type of insurance policy you want.
When you visit Tom’s website, you’ll notice that their services are completely free. The company makes its money through a commission paid by its partner network when customers sign up for a policy.
When an advisor gets in touch, they will request all information from you and then find the best possible deal from their partners, which can often result in cheaper premiums than other traditional insurance companies.
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Tom offers customers various benefits that could help you decide if the company is right for you. These include:
As stated above, Tom’s services are free. To get a quote, you’ll have to speak to one of their advisors on the phone, as they currently offer no online quote calculator. The company states that this method will allow you to explain your requirements better and find the right policy for you.
In general, insurance providers will consider your age, occupation, gender, coverage level, medical history, health condition, and smoking status when calculating your premium. If you find that you’re getting high premiums, try to work on variables you can change, such as reducing the number of hazardous activities you take part in or giving up tobacco and other forms of smoking.
We couldn’t find any ratings by popular, trusted firms like Fairer Finance or Defaqto on Tom’s insurance services. However, the company has a 4.5-star rating on Trustpilot, out of 919 reviews.
If you haven’t had previous experience with taking out a life insurance policy, it’s helpful to know these tips:
Compare: Shop around by getting multiple quotes from providers and then compare to see which company offers the best value and policies. Insurance companies can be flexible with their prices, so it’s always a good idea to check multiple providers.
Be Thorough: It’s essential that you go through all the policy details with the insurance provider. You wouldn’t want to find yourself unable to make a claim because your policy didn’t cover a particular instance you missed. Also, by being thorough with your examination, you can make sure that you’re only paying for the coverage you need.
Lower Premiums: You can potentially get a lower premium by changing certain variables. Smoking, for example, can increase your insurance premium by a considerable amount. You should also consider a joint policy if you have a partner since it’s usually cheaper than getting two separate policies.
Well, if you aren’t a dad, your choice is a bit easier. Tom’s services cater to dads in the UK, focusing on providing cover to fathers with financially dependent children and family members.
The company has helped over 50,000 families get life insurance coverage since it was founded. So, you’re getting a brand that’s trusted by thousands of fathers around the country. Their network of partners is also FCA authorised, which should give you some extra peace of mind.
The benefits of using Tom are fantastic. The company can get you excellent deals, with many online reviewers noting that they found the cheapest premiums through Tom. Also, the £1 donation to Balls to Cancer with every quote is an initiative worth supporting.
However, there are some drawbacks that you need to consider before making a decision. Tom doesn’t offer an online insurance calculator. Therefore, you’ll need to speak to an advisor over the phone. This can be a positive if you prefer to discuss your requirements in detail. However, you won’t be able to browse and compare with other providers online quickly.
Another common issue reported by reviewers is the number of calls you receive from advisors when submitting your details for a quote. So, make sure you’re interested in the service before giving away your information.