The Value of Financial Advice: Insurance

Over the coming weeks, I dig deeper into the Council study in value. The report contains a number of key points that I covered in my previous. Today I will look as well as on the subject of insurance.

The report states that the team had consulted a high percentage of people with insurance (pensions, insurance and investment products, but one thing at a time). Now cynics among you will say: "Of course they do, because they had been beaten by a committee IFA hungry." Well, let's take a look at some numbers:

    The family is the family spends an average of 474 pounds per week.
    Costing an average of 10,382 pounds a year to raise a child until they are 21
    It costs about £ 5103 a year for a part-time nursery

Mother widow allowance up to a maximum 108,30 £ per week. It will not be too far away.

Death can have serious consequences on the lifestyle of those behind them, and behind him, but should not be burdensome financial problems at a time when a lot of other things pressing. Even a small amount of life insurance can make a big difference.

Wrong, surviving a serious illness a greater impact on the financial death, escaped from a serious illness is becoming more likely. Numbers are found from the primary insurance claims:

    37% of critical illness claims by people under 40
    He was the last person to claim to detect cancer 24
    The youngest person to claim that he had a heart attack 23
    7 out of 10 cancer patients suffering from loss of income or increased costs as a result of their diagnosis

Surviving the disease can cause serious

    Loss of income from the wage earner
    Increased costs of child care for someone at home is no longer able to care for children

Some have the luxury of paid sick leave fully from their employers, but rarely for more than a year. Numbers Aviva claims that in 2011 the average duration of a request for the protection of 10 years of revenue and 66% of claims in payment for a period of 5 years or more. So, if you're going to be sick, and I was lucky enough to survive, and there's a good chance you will not be able to work for some time. And 1 year full payment not be far off.

You just need the right to statutory sick of £ 86.70 for 28 weeks. Then you may be entitled to employment and support and begin 71,70 £ per week (less if you are under 25 years old) and increase to a maximum of 106,50 £ per week. It will not be too far away.

Each of the importance of adequate insurance on your life, your health, and show your income.

The cynical - I'm sure there must be hungry Committee odd, defeating insurance IFA there - but these figures highlight the importance of fitting cover in place and if this advice comes from the IFA good then you can be assured you enough coverage in place.

Finally, and perhaps controversial, even if someone persuaded to buy an insurance policy from unscrupulous vendor - and this does not automatically mean that the policy was not appropriate. Ask a widow who claimed a life insurance policy if sorry that her husband is willing to buy a life insurance policy from the IFA-hungry Committee. I'm sure you know the answer.


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