Review: Beagle Street life insurance

By Digby Bodenham 5th January 2016

Key policy features

• Beagle Street has an online application with no medicals or meetings
• New customers will be provided with a complimentary will service
• Beagle Street will search official registers to ensure loved ones receive a payout
• Documents stored online

Summary

Beagle Street is an online life insurer that was launched in 1992 by the BGL Group. BGL set out to transform its legacy life insurance business by introducing a simple online process that removes the need for medicals and meetings. It uses an online assessment tool to give consumers a quote according to their budget.

The BGL business has over 7 million customers. Beagle Street’s policies are underwritten by Scottish Friendly Assurance Society.

Its call centre is open everyday, except the main Bank Holidays. Important policy documents are stored online so that they can’t be lost. Should you die without making a claim, Beagle Street promise to monitor official registers so that loved ones receive the payout, even if they haven’t got the details to claim.

Learn more with our guide to the best life insurance providers.

Cover Overview

Its minimum cover is £40,000 up to the age of 40 and £20,000 from 41, reducing to £10,000 from the age of 50.

Maximum life insurance cover under the age of 40 is £750,000, falling to £500,000 for 41 to 50-year-olds down to £75,000 at age 70 and above. This is quite comprehensive cover.

Critical illness cover for all ages is £5,000. Maximum cover is between £75,000 to £750,000.

How much does Beagle Street insurance cost?

Cover for life insurance and critical illness starts from £5 per month. For an adult aged 20 this would set life cover at £113,482, critical illness £11,348 and child critical illness £2,837.

A £10 per month premium for a 20-year-old provides £422,186 in life cover, £42,319 of critical illness and £10,580 child critical illness.

A 45-year-old with a £5 per month premium, gets £20,000 life cover, £5,000 critical illness cover and £1,250 child critical illness.

Get a tailored Beagle Street quote here.

What do Beagle Street customer reviews say?

Beagle Street scores 9.7 out of 10 from 226 consumer reviews on Trustpilot.

One customer says: “The website is really easy to use and the process is quick and painless, anyone can do it. Got a call a few days later just checking everything was in order and got a paper copy of the policy in a beautiful packet where each page is premium quality paper.”

This comment is from a customer who needed help to put their initial application right: “So easy to set the policy up, customer services were excellent in amending a mistake I had made online, and a free will and trust service to go with it all. The level of cover and the monthly cost is superb.”

What do the experts say?

Independent financial services review firm Defaqto gives it 3 stars out of 5. That means it is “a standard product providing an average level of features and benefits”.

Alan Lakey, founder of critical illness evaluation website CIExpert and partner at Highclere Financial Services, says: "Its aim is to show as the lowest cost on the various comparison sites. The question for the public is whether that comprises good value for money, as arguably it offers a policy at a cost otherwise outside of some client’s budget.

"It appears to have twin methods of achieving its low cost position; firstly, it has cautious underwriting which appears to follow the preferred life route, essentially you may find that clients with any existing conditions or family history may not be considered. Secondly, it has a basic 22-condition plan with additional children's cover of up to £25,000 per child."

Lakey rated it against other market leaders including Aviva, Ageas and Friends Life, and says: “The cover is less comprehensive than the better plans which use superior and wider claims language. Naturally the Beagle Street plan is less likely to result in a claim for the conditions where the wording is inferior. Beagle Street will appeal to the casual purchaser who merely looks at cost and cannot or does not want to make a distinction between plans.”