What is the key piece of information needed to compare quotations from two life companies providing the same coverage?

To effectively compare quotations from two life companies offering the same coverage, the investment return assumption made by each life company is crucial. This assumption significantly impacts the projected growth and performance of the policies being compared, especially for savings or investment-linked life insurance products.

Each company may have different expectations regarding future investment returns, which can affect the premiums quoted, the cash value accumulation, and any benefits payable upon maturity or death. If one company anticipates a higher return on its investments than another, this will likely influence the pricing structure and could make one policy appear more attractive than another. Understanding the investment return assumptions allows for a more accurate comparison of the cost and potential benefits of each insurance offering over time.

While Sean's age, existing life assurance cover, and current income are relevant factors in determining the amount of coverage needed and perhaps the premiums, they do not directly influence the comparison of the quoted policies in terms of their investment performance potential. Therefore, focusing on the investment return assumption is essential for a fair evaluation of the life insurance options available.