Understanding life insurance - chapter one

The end of the second world war, the vast majority of the life insurance policies have purchased the "man of insurance", during his annual visit to the family home. That children have grown up and moved to their own homes, insurance man or woman, (or should be "person"?) often followed by cycle (bi) has continued.
At the end of the 1990s, rules and regulations have been introduced to ensure that the public in General was informed on the best policy according to their own circumstances and not those of the selling life insurance or the insurance company.
Since that time, the regulation of activities of the distributors of life has changed dramatically in the landscape. Many companies have ceased to exist or have been swallowed up by other companies. Millions of subscribers were surpries to find that the person of insurance had ceased the appeal and that they had been replaced by a letter once a year of their life insurance company. Often, the letter informed the policyholder of the company of the new (or most recent) name.
A number of persons of insurance has adopted standards of professionalism that would introduce this legislation. They studied hard and passed the relevant qualifications established by the Chartered Insurance Institute. The new race promoted themselves as independent financial advisers and mortgage brokers and aimed to provide a much improved level of service and advice to their clients. New disciplines such as equity release specialists have been published over the past few years. However, this standard of advice came with additional fees attached. Many advisors chose to work only with clients who need advice from investment that it was a much more productive use of their time from their point of view.
So, how the person average gets life or the protection of the mortgage without cost disproportionate "advice"? Recent years have seen an explosion in the volume of cases are processed via the internet. There are many sources that allow the consumer to obtain a quote for life insurance or even buy insurance life on the internet without taking advice. Okay, if you know how much life cover you need and how much time you need to and then after that it is just to the price is not it? If only it were so simple! There is still lot of considerations that must be taken into account. For example, guaranteed rate or revisable rate? Put the insurance trust or not? I should know or should my partner sure? Single joint life or life insurance? Waiver of contribution? The list goes on and on. The fact is that the cost is only one of the factors involved and pay extra to get financial advice can be a profitable investment. This is particularly true for Keyman Insurance where you consider the tax implications. You can also read the series of articles, that I will publish in the next few weeks and it starts to become clearer.