1 December 2011

Do you need life insurance?

I used to think of life insurance salesmen as being only one step above doorstep double glazing salesmen! But that didn't stop me believing that life insurance of various types was A Good Thing (as well as double glazing!).

Life insurance - or more generally "financial protection" - is most important for younger people with families to protect, perhaps. But it is also relevant in the second half of life. Mortgages often last for the whole of a working life and even into retirement these days. And you don't want your spouse to lose their home if you die just before you retire because they can't afford the remaining payments.

Cover for health is also worth considering - such as "critical illness" cover (I can say that from personal experience), while for self-employed people particularly, Income Protection cover can provide valuable cover.

"Whole of life" cover can also be a good way of dealing with an Inheritance Tax liability, or perhaps to ensure that there is sufficient cash available to pay for a good funeral (which are increasingly expensive).

I don't think of myself as a life insurance salesman(!), but I am a financial planner who firmly believes that selecting the right set of financial products is important for a secure future - and that includes financial protection.

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