Choosing Life
Policies
Most people believe that life insurance is ‘a good thing’. For most of us, it underpins our financial planning, protecting our family, while for others it can be a key business tool or estate planning mechanism.
Life insurance can also be a complicated business – full of jargon, legalese and long application forms. Yet it need not be like that. Understand the fundamentals, and life insurance becomes relatively straightforward – the problem is that no-one bothers to explain those fundamentals to us in the first place.
The prime purpose of any life insurance policy is to provide money where there is a financial need resulting from a death. There may be other reasons to buy life insurance, but they are subsidiary to this main need.
