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Life Insurance News
Life insurance customers 'should review policies' - 27/11/2007
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Changed circumstances could mean that life insurance policies are out of date, so checking them regularly has been advised as essential by one price comparison website.
The Motley Fool has asserted that circumstances such as moving home or having a baby could necessitate policy alterations and recommended that consumers look again at their life insurance deal if such events occur.
"Many of us tend to forget that as our circumstances adapt, our financial liabilities and therefore our need for life protection often increases," the advisory service recommended.
This was one of seven life insurance tips offered to customers for ensuring that their life insurance strategy is up to speed.
Among the other recommendations were assessing how much cover is needed - remembering to take family into account - and determining how long the policy needs to be in place for.
Taking care with application forms while ensuring that the policy is affordable were also noted as savvy tactics for anyone applying for life insurance.
Additionally, setting up a policy in trust was said to be a good way of ensuring that after death, any policy payout goes to those people specified by the holder.
Earlier this year, moneysupermarket.com advised that giving up smoking can result in life insurance savings of between £2,000 and £3,000.
© Adfero
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