life insurance

The best life insurance policy is the one which is most suited to your purpose. There is no case of 'one size fits all'. All Life Insurance can be seen as a form of gambling on your life expectancy and every insurance company works by statistical tables which give life expectancy based on detailed criteria which you supply. On the whole these tables are standard but some insurance companies offer better rates for specific conditions because they specialise in, for example, people over a certain age or engaged in specific professions or activities. If you are over 50, for example, it may be worth your while investigating SAGA or some other such organisation; if your work involves some specific danger or liability, you are almost certainly better off getting life insurance through your union or professional body. You should also be aware that most brokers and consultants will not charge you for their consultancy but they earn their living by selling policies on commission (they are obliged to tell you that) so the products they offer are from a portfolio of companies which (a) offer policies suited to their clients' needs and (b) pay a reasonable commission. There are a few consultants who will charge you for their services and do not, therefore, rely on commissions for their income. You may feel it worth while to investigate those because there is a slight chance that they may find you a more suitable product. On the whole, however, you will probably not go far wrong by choosing one of the well-established names, such as Prudential. They have millions of customers and therefore have their own statistical tables (rather than relying on others' data). Their rates are likely to be the best for most policies but if you have specific considerations you are probably better off looking for a specialist. In thinking about Life Assurance, first think about your needs carefully. Talk to several consultants (your bank is quite a good place to start; also get quotes from those companies with whom you already have insurance and from any professional bodies of which you may be a member) in order to broaden your understanding of what is on offer. Take your time about choosing and DO study the small print!