Have you considered taking out a life insurance policy and if so, do you know if this is the type of insurance you need for your specific requirements? Do you know what you need this protection for and what your risks and issues are?
Part of our expertise is to delve into these questions and understand what you really need, sometimes better than you understand yourself.
Understanding Financial Protection
Financial Protection Products
Within financial protection, there is an extensive range of products that most people don't know even exist.
As independent financial advisors, we are trained to identify your exact need, even if you don't know what that is yourself. Part of this process is to talk with our clients to help understand their specific needs, where the risks in their life are, and then explore the products that cover those risks.
Making Sense Of Your Risks And Issues
You may think that you need £200K of life insurance to leave a loved one to help with a mortgage or the costs of living, but when we look into your specific risks and needs of financial protection, they are often different from what you might imagine.
If someone has young children and is married, what they think they want and what they should be covering in terms of risk would be different. We might decide in this scenario that it would be more appropriate for the family to have a decreasing term life policy which purely pays out to the survivor allowing them to pay off the mortgage.
Here, decreasing term means as the mortgage is going down over the couples lifetime, the value of the payout will go down. This is cheaper than having a fixed-term policy to cover a mortgage, because a mortgage isn't fixed so the premiums are less.
Why Use An Independent Advisor?
Once we have identified our clients needs, we will then go and look at the whole of market using specialist software and expertise to narrow down the best provider offering the narrowest premium with the cover that covers the thing that is most important to our client. This is then relaid in a written report explaining what we are recommending, why we are recommending it and who we are recommending.
In doing this we add massive value to client both in terms of what they end up with, while also adding a significant amount of value without increasing the cost to the client.