As accountants, we come across many instances where clients either do not have any personal insurance cover at all or insufficient cover to meet their needs in the event of serious injury or illness.
Most people don’t think twice about whether to insure their car or their home, but often don’t consider the importance of life insurance. Personal Insurance cover will enable you and your family to maintain the same standard of living by providing payments to cover any outstanding debts and everyday expenses.
By making sure you have the right cover and with the right terms is crucial. We recommend reviewing your policies on a regular basis.
1. Your circumstances may have changed. This can include lifestyle changes, changes to your family situation or changes to your income.
2. Is there a cheaper insurance policy that is suitable? Products and prices vary between insurers and so do policy definitions. Please note that a cheaper policy is not always suitable.
3. Are the beneficiaries of your policy still correct? Circumstances can arise resulting in the need to review your beneficiaries, including marriage, the birth of children and death of a spouse or partner.
4. Are you with a reputable, sound insurance company with a good claims history? Does your policy have good definitions with no exclusions?
Types of personal insurance can include the following:
It is important to act now, as it is potentially very difficult to obtain cover or change insurance in the event of a change to your health.
AS Partners can arrange a free review of your policies to ensure your peace of mind.
By Jeffrey Isaacs CPA, CTA, DFP
Comments are closed.