Do you really need life insurance?

You would be amazed at the number of clients I talk to who have taken out life cover and have only the vaguest idea of what they’re paying for.

In many cases they were sold life insurance by their bank.  They were chatting to the bank manager about a mortgage or business loan and lo and behold, a life policy was suggested.  It only cost a few dollars a week and so they signed on the dotted line.

But when I dig a little deeper it’s clear that they have the wrong policy.  Perhaps they’d be better off with a mix of trauma cover and income protection.  And it’s not uncommon to find their life insurance policy is a bit of a dud, riddled with exclusions.  One client remarked sadly “I can only die of a small number of conditions”.

Not understanding the fine print is a common error.  Another is buying on cost.  The important thing with insurance is not so much what you pay each month but what you’ll be paid in the event of a claim.

However there is one group who can benefit from life insurance and that’s your teenage children. Pay for cover until they’re established in their careers and then they can take over the premiums.  By starting them young you’ll lock in a good level of cover with the fewest exclusions.

We’re very happy to look at any policies you have and give a considered opinion.  All you have to do is ask.

Have you reviewed your insurance in the last few years?  If not,    make an appointment