We all make mistakes in life, but here are a few to do with life insurance.
Procrastinating – Putting it off
Which is better? To have insurance and not need it, or not have it and need it.
Sometimes people just don’t get around to sorting it and health issues arise excluding them from getting some or all covers.
Some people take the view because a spouse doesn’t work there’s no need to insure them. WRONG!
What happens if they develop cancer and need help? Can you afford to take time off work to help? Probably not.
Failing to review regularly
You take a policy out when your children are young and you have a large mortgage, however life changes.
Ten years later are your needs still the same?
Have policy conditions changed and / or improved?
A regular tune up is advisable.