Why get advice in life insurance?

February 24th, 2022
Why get advice in life insurance?

There’s a quick and easy answer to that question. There’s also a longer and more detailed one. But time’s precious so first the quick and easy …

There are dozens of insurers out there and each will have a slightly different spin on a product. Some insurers offer private healthcare services and gym membership, others are all about staying cheap (but that can lead to holes in your policy).

Basically, you wouldn’t pop the bonnet and grab a spanner if you know nothing about cars, so why try to navigate the complicated world of life insurance if it’s brand new to you?

You could spend days researching it … or you could tag in, fee-free, an adviser whose job is to match your circumstances and needs to the best policies out there.

LifeSearch have been doing this since 1998, and that is why Free Price Compare have partnered with them – we’re sure we they can help you.

The longer answer

There’s a common understanding of what Life Insurance is: a big payout when you die. Sure, that’s true. But life insurance is just one product of many. In fact, the majority of protection products aren’t about death at all, they’re designed to protect your lifestyle if you, your partner or child get sick.

You’re much more likely to get sick or injured than you are to die before retirement. If that happens, you may find yourself without an income temporarily, or indeed more permanently, and that’s a tough spot to be in. You could borrow, you could smash your savings or you could be grateful you bought …

Income Protection

If you get too sick to work, IP replaces a big chunk of your income.

This is valuable for anyone, but it’s especially pertinent for the self-employed. If you work for yourself, you probably aren’t entitled to Statutory Sick Pay – which is less than £100 per week anyway – and you can buy it through your business for tax-efficient savings.

Critical Illness Cover

Pays you and your family a lump sum if ever you’re diagnosed with a critical illness as specified in your policy. Usually one of the big, unthinkable ones.

Family Income Benefit

It’s a life insurance payout. And while it can be rolled up into a lump sum and paid out in a oner, FIB payouts are typically made monthly. This way, there’s a regular income coming in if the breadwinner can’t work, or they’re no longer with us.

An adviser will steer you right

There are more products and policies but that’s for an adviser to help you with. The fact is that life insurance, while the best-known product in the family, isn’t always the best option for everyone.

If you’re young without a mortgage or kids, you may be better protecting your income.

If you’re only getting a foot on the property ladder, there’s mortgage protection insurance to make sure you’ll pay your mortgage off if you were to pass away.

There’s a broad range of products available, and we haven’t fully mentioned business insurance which can be a tax efficient way business owners, shareholders and directors can protect themselves, families, businesses, finances and colleagues.


This is why advice is the way to go. Knowing where to turn when faced with all of the above can be complicated. An adviser can get you straight to where you need to be.

It’s pretty painless. After the adviser notes down your circumstances, history and what’s most important in your life, they’ll present options and advise how you can protect the life you love in a way that makes sense to your unique circumstances and budget.

If you’re happy, you buy. If not, you don’t. There’s no hard sell, advisers simply take the hard work off your plate. What have you got to lose?

Visit our Life Insurance Page for more information or call 0203 764 0194

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