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Consumers should take all factors into consideration and ensure the policy meets all their needs before buying life insurance, an industry expert has said.
Writing about the need for people with dependants to consider undertaking protection, Damian Clarkson of MSN Money said that with life insurance, "one size does not fit all".
The author has quoted Laura Starkey of Beatthatquote.com, as saying that consumers should not only read all exclusions, but also seek professional advice from an expert if need be.
She said explained that people's financial futures are "too important to gamble with" and urged recommended ensuring "whatever form of protection insurance you choose, you read and fully understand the details or your policy before signing on the dotted line".
Ms Starkey advised those who have joint mortgages or any outstanding debts to obtain a life insurance policy to ensure that their partners or dependants are not left shouldering debt if death occurs.
According to Alan Lakey, a partner at independent financial advisers Highclere Financial Services, families should move away from the tradition of insuring the breadwinner alone.
He told the Independent recently that "this is frequently a short-sighted move because the question that has to be asked is, what if?".Do you want Advice on Life Insurance?
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