'seek professional advice' before taking out life insurance by Finance News Bulletin

Published: 15/12/07

Independent financial advisors Libra Financial preparation (LFP) are warning that life cover is a "complicated area" and it is often best to seek professional recommendation before committing to a policyWhile it is now possible to pay money for insurance products hassle-free from one of the supermarkets that has moved into the market, an LFP spokesman stressed that this may not always be the best option"Obviously populace can go and buy it off the shelf at Tesco or Sainsbury's if they have an idea of what they want But it is often best to get some type of advice about the exact type of wrap they require," the spokesman said

He pointed out that single homeowners will typically not need existence insurance as in the occasion of their death all their assets would simply pass on to their estate, creation an income protection plan more appropriate for them"It is very flexible," he added "It is just about fitting the right manufactured goods to the right scenario - like anything, if a customer is unsure, it's always best to get advice"The LFP orator also singled out critical illness wrap and inheritance-tax-exempt trusts as two key areas that are particularly puzzling for consumers

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