Life assurance and its associative suite of products is a much maligned and underrated part of financial planning. In our opinion, it is the very corner stone that needs to be built securely and with thought before the other layers of investment such as pensions, property and portfolios are added.
In the modern, price driven, comparison led websites, it is very easy to be led into buying a cheap solution to a problem only to find out when it is too late that the solution only causes more problems.
As with all forms of financial planning, solutions in regard to life assurance and family protections need to be considered on an individual basis and solutions should be found to fit individual needs.
This is particularly true where people enjoy certain benefits connected to their employment. It is sometimes the case the an individuals employment ends prematurely, leaving them without any protection and at an age when it is no longer financially viable to obtain the required level of protection.