Insurance. Not sexy, not fun, but...

Wednesday, 26th March 2008 11:36 - by Resident IFA

...the best purchase ever made when you have to make a claim! That’s the trouble with all forms of insurance. They are intangible; they don’t sit on your drive and glint in the sun, or adorn your living room wall whilst playing out the drama of the latest Premiership football match in HD. What they do provide is that age-old chestnut – peace of mind. Unfortunately, in my profession I have had Clients that have claimed on life insurance, critical illness insurance, and terminal illness insurance policies. At that point, insurance becomes great value for money and the most beneficial financial decision they ever made. It begs the question: What priorities should we follow? Is it the hedonistic ‘Must have Sky TV’ viewpoint or the ‘I’ll always look after myself and/or my family first’ approach? When you think that you can probably arrange a decent life or critical illness or mortgage or income protection insurance for the same cost as a monthly satellite TV subscription, I think it brings the subject into sharper and more realistic focus. There are various types of insurance available, ranging from general insurances such as home, car, and travel insurance to regulated insurances such as life insurance and the others mentioned above. It is important to buy those insurances right for you, your budget, and circumstances. Shopping around can save you money...a fact being drummed into us more and more nowadays. The trouble is, it’s absolutely true! Dramatic amounts of money can be saved by shopping around on-line or taking advice from an independent adviser/broker. One of my Clients recently reduced her home insurance premium by over 50%, simply by letting me help her break free from her mortgage lender and their ‘captive-audience’ inflated price. Of course, money-saving is great but it is not the be-all-and-end-all. I would far rather maintain my Clients premium and arrange better cover i.e. including more all-encompassing critical illness definitions/cover, than just save them money. I feel that to be better, more valuable advice in the long-run. Here comes the shameless plug! lse.co.uk has selected a whole-of-market company to look after our visitor’s insurance needs, providing them with the best advice and premiums available. Simply input a few basic details and you will get a human, UK-based adviser call you with your premium, able to make any tweaks you want whilst on the phone...and of course arrange your cover there and then if you wish! Please click on the Insurance links on the left of this page and then on the relevant ‘Get quote’ button or link. Until next time...