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Independent life insurance advisor

Life insurance is a policy that promises to pay a designated sum of money when the insured party passes away. Depending on the contract, changes in circumstances, such as the development of a terminal illness or a critical illness, may also trigger a pay-out. Insurance companies like AXA Sun Life Direct and Liverpool Victoria offer plans, and retailers like the Post Office and Marks Spencer also offer life insurance policies. As there’s so much choice, where should you go to find an independent life insurance advisor, who can locate the best policy for you?

How it works

The policy holder pays a premium either as a lump sum or through regular payments and receives ‘peace of mind’ with the knowledge that their passing will not result in financial hardship for their loved ones. The funds can cover funeral expenses or be left as a cash gift in the policy holder’s will.

Independent agents

Independent life insurance advisors represent a number of insurance companies, so they can sell you a policy that most appropriately meets your needs. They are independent contractors for the insurance companies they represent and are paid by commission, so are not biased toward any one insurer. These agents have to be knowledgeable about the complex insurance market and insurance law, so typically have more expertise than exclusive agents, who only market one insurer’s range of products and services.

Where to go?

Companies who trade through call centres and websites can give you the advice you require, so it’s worth carrying out an internet search for ‘life insurance’. But, when you have questions that you need answers to, nothing compares to face to face interaction. High street brokers like A-Plan Insurance and Swinton Insurance are the best places to start as you will get a personal service. A high street advisor can help you make sense of a policy’s terms and conditions and answer any questions you have on life insurance.

Final word

Life insurance need not be expensive and it doesn’t have to be complicated. Most insurers provide set plans that only require small regular payments to maintain. The Axa Sunlife Guaranteed Over 50 plan is one of the most popular plans on the market today and similar plans are available through Aviva and Santander. But life insurance can be taken out earlier in life and tailored to your individual needs, which is where an independent life insurance advisor’s assistance should be sought.

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