Customers’ requirements from their insurance policies have changed considerably in recent years. We have talked before about the impact of medical advances on how providers respond to people’s health circumstances. The fact that we are all living with previously life-threatening conditions and living longer overall means that we need to be covered in circumstances where previously they would have been declined cover. Taking advice about what may be available to you and discussing your personal circumstances will be the best option when considering new life insurance.
The insurance market is expanding and that new providers are entering the market to capitalise on that. This means that competition for your business will grow, which in turn can mean better rates offered as well as improved service and new ways to attract your business. Again, the best advice is to take advice. Being able to sift through the numerous offers available to you is exactly what your advisor has the training and experience to do.
Everything is online now and in common with most other products insurance is available at a click of the mouse. Buying your car or home insurance online is reasonably straightforward. You know what you need to cover, the term of the cover is usually just a year and as long as you cover the legal requirements for your car and can replace the contents of your home in the event of a problem you should be ok. Life insurance online is a different matter altogether, the expected life of the policy is usually much longer, the restrictions on how you can receive benefits from the cover can be harder to understand and the options available from different policies need an understanding of your personal requirements to make sure you have the most suitable cover.
It is clear that the customer looking for life cover is in a stronger position than ever before to get a policy that suits them and their families. Its final point however is that being able to negotiate your own life insurance, while possible, is not advisable as the experience of a professional advisor will usually mean you achieve the most suitable option. As ever we are happy to discuss your personal circumstances. Please get in touch to talk about what you need from your life insurance.
“Life insurance with no investment link will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.”