Following recent research suggesting that more than three million UK adults are unsure of which type of life insurance policy they hold, the Post Office is urging you to pay greater attention to life insurance.
Life insurance can provide peace of mind by taking care of personal debts and providing financial security for a family in the event of a death. The Post Office is advising people obtaining life insurance quotes to ensure they choose a life insurance policy that most accurately reflects their personal circumstances.
They also recommend that you re-evaluate your life insurance policy when circumstances change, to ensure you are still adequately protected should the worst happen. If you fail to do this, you may not have the right level of life insurance cover in place, or could even be paying too much.
For example, one of the most important aspects of life insurance is to cover the value of property. This ensures that in the event of death, family members will be able to live mortgage-free, alleviating major financial worries.
Life insurance: News update: 3 November 2009