Anorak life insurance review
Discover how Anorak life cover works, plus the pros and cons of the service and our verdict.
Anorak is a life insurance broker and it says that it makes buying cover easy. The name is a nod to the nerdy (in other words, its “tech geeks” love “doing the maths”). It offers “robo-advice” through its smart platform. Here’s what else you need to know.
Who is Anorak?
Anorak launched in 2017. It’s backed by AXA and won an international innovation award in 2018. The platform uses Open Banking which allows users to share details from the institutions they have accounts with, so Anorak can use this to tailor its recommendations.
What types of cover are on offer?
You can buy life insurance, critical illness insurance and income protection insurance through Anorak. Policies begin from £5 a month, although this will be affected by a range of factors including your age, level of cover, lifestyle and general health condition.
Your payout will depend on whether you choose decreasing, increasing or level cover.
How Anorak works
You can get a quote from Anorak online or over the phone.
Its online questionnaire is intelligent enough to help you, even if you’re not sure what type of policy you need.
You’ll be asked various questions about your personal health and financial situation, then provided with a list of quotes based on what the Anorak algorithm thinks will be the best policy for you.
Before receiving any quotes, you’ll be asked to provide your email address and phone number so an expert can call you back. There’s no way to opt out of this.
Still, you’ll be presented with a list of life insurance options from a range of well-known insurers. Next to each option is an estimated price, although you’ll have to fill in some more personal details before you’re given your final price.
Once you complete your application on the Anorak website, an expert will call you to double-check your details and finalise your application. In many cases, the insurer will accept it on the same day and your cover will begin instantly.
Once you’re insured, you’ll communicate with your chosen insurer if you need to make a claim or tweak your policy.
How to contact Anorak
You can get in touch with Anorak by calling 020 3514 6702 or filling out the contact form on its website.
Customer reviews
In February 2021, Anorak had only 36 reviews on Trustpilot. They were all 5-star ratings.
Pros and cons of Anorak life insurance
Pros
- Anorak is free to use.
- It uses “smart data” to choose suitable policies for you.
- It partners with a good range of life insurance companies.
- It says it offers impartial advice.
Cons
- There is no way to opt out of a callback from Anorak’s experts.
- Some might not want to share their data.
Our verdict
With its intelligent use of data, Anorak’s robo-advice platform is certainly innovative and likely to speed up the process of getting a suitable policy. Some people might be uncomfortable with sharing this level of data, however.
Frequently asked questions
More guides on Finder
-
Yonder credit card now available in Manchester, Bristol and Bath
The Yonder rewards credit card has been rolled out in Manchester, Bristol and Bath, having previously only been available for customers based in London.
-
Only 1% of primary teachers think kids get enough financial education
Teachers, kids and parents are concerned about financial education in the UK – we deep dive into what this means and what to do about it.
-
Last chance to get £100 off London Blockchain Conference 2024 passes
Final chance for £100 off London Blockchain Conference 2024 passes with Finder. The even returns at the ExCeL London on May 21, 22 and 23.
-
Insufficient auto-enrolment scheme is set to leave Brits with only 53% of a comfortable retirement income
Research reveals the average pension savings through auto-enrolment will leave Brits with 53% of what’s needed for a comfortable retirement.
-
Mortgage rate change calculator: How much will my mortgage go up?
Use our mortgage rate change calculator to work out how much your mortgage payments will go up if the interest rate changes.
-
Financing gap for female entrepreneurs widens by 78% since the Rose Review in 2019
New research reveals that the financing gap for female entrepreneurs had widened by 78% since the Rose Review was published in 2019.
-
“Show me a sexist”: ChatGPT believes 99% of people in high-powered jobs are white men
New research reveals that ChatGPT overwhelmingly views those in high-powered jobs as men, highlighting the bias of OpenAI.
-
Paying annually vs monthly for car insurance
Annual car insurance premiums can hit your wallet hard; we explore whether paying in monthly instalments is the best solution.
-
How where you park affects your car insurance premiums
Discover the best and worst places to park your car from car insurers’ perspective, and how to keep the cost of car insurance down.
-
Can an advanced driving course reduce my car insurance premiums?
Taking an advanced driving course could improve your driving skills and confidence, and could even save you money on your insurance.