Understanding life insurance - Chapter 1

From the end of World War II were the vast majority of the life insurance from the ' insurance man', acquired on his annual visit to the family at home. As the children grew and their own houses, the insurance man or woman (or it should be "Person"?) often followed and continue the cycle (BI).

In the late 1980s rules and regulations have been introduced to ensure, that the general public about the best policy is debated circumstances and not that of the sales person life insurance or the insurance company according to their own.
Since that time, the landscape has changed the regulation of the activities of the life insurance distributors. Many companies ceased to exist or were swallowed up by other companies. Millions of policyholders were surprised find that the insurance had person stopped to call and they a letter once in the year of its life assurance company been replaced by. Often, the letter of policy-holders of the company's informed new (or latest!) Name.
The insurance of persons embraced the new standards of professionalism that would introduce this legislation. She studied hard and put the relevant qualifications set by the Chartered Insurance Institute. The new race as independent financial advisors or mortgage broker sponsored and allegedly to provide is significantly improved service and advice to their customers. Newer disciplines such as equity release specialists have emerged in recent years. However, this higher standard came combined consulting with additional costs. Many consultants selected require investment advice, as it was a far more productive use of their time from their point of view to work only with clients.
So how the average person get life insurance or mortgage protection without the disproportionate cost of the "advice"? The last few years have seen an explosion in the volume of the volume of business over the Internet. There are numerous sources of information which it received the consumer a range allow life insurance or even life insurance without consultation via the Internet purchase. Let's face it, if you know how much you have to meet and how long it for then then need it only up to the life it is not price? If only it would be so easy! There are still a lot of considerations that must be taken into account. For example, guaranteed prices or verifiable prices? Put the insurance policy in the trust or not? Should I insure me or should assure my partner me? Common life or individual life assurance? Waiver of post? The list goes on and on. The fact is that costs only one of the factors is and extra pay for financial advice may be a worthwhile investment. This applies in particular to Keyman Insurance where the taxation impact must be considered. Alternatively, read the series of articles that I will publish in the next few weeks and it will start to clear.