Most UK consumers are unaware of the existence or the workings of most or all of the following types of life insurance and their tax treatments:
Even worse, many people take out life insurance without ever discussing their situation with an independent adviser. Often, the subject is first raised at the time of mortgage planning, and a policy is taken out on the spot with a bank or mortgage broker, without any check as to value for money. A few minutes spent discussing your needs with an independent adviser – one who can advise on appropriate products and access the entiremarketplace on your behalf, could save you £,000’s over the years! Don’t pay too much, and don’t carry more insurance than you need!