CASE STUDY – LIFE ASSURANCE

The financial problem – this couple were in their 30’s and asked us to review their portfolio of life assurance and sickness policies. He was 33 and she was 35. They had three young children.

Five years ago they had arranged through their bank a joint life first death term assurance for cover of £258,000. The premium paid was £45 monthly.

Our advice showed that they were paying well over the odds for such cover. For the same premium elsewhere they could get cover of £473,000. Given their family had grown recently they opted to replace their policy with our help to get much better value cover.

This case shows that sometimes banks do not give the best value policies. It is also the case that competition amongst insurers has lowered premiums over the last five years.

It will pay to ask us to help you obtain the life cover you need, or review existing policies if first arranged in the last five years.