Insurance Center

Many people buy life insurance, throw the policy in a drawer and never look at it again. Mistake!

In the insurance industry they are referred to as Life Stage Events and these massively affect life insurance policies. The most common of these events are divorce, the birth of a child, marriage, buying a new home or moving house, a new job, retirement and a family bereavement.

Every one of these events will probably affect the suitability of your life insurance cover. Most people simply ignore this. But when you buy a life insurance policy this should not be the end of the matter. It is crucial that people think about updating any life insurance cover, or switching to different types of products if, for instance, they have a child, get married or buy a house.

Part of the problem is that people are not fully aware of what need and what sum their protection products cover in the first place, especially when they buy without advice.

People are urged to take advantage of the new year to review their finances and make sure that they have all their insurance cover in order. Get advice from a specialist rather than getting help from unqualified friends and family.