Life Assurance Query

Secret1234

Hi, me and my oh are looking to get life insurance. I went though all the links from the home page of MSE but stuggled when filling out the online quote forms. We want to get it rights so do you suggest we get a financial advisor? And if so how much do these cost? Or is there a simple life assurance website we could use?

Thanks x

dunstonh

Working under 2009 rules (i know we arent there yet but may as well think that way), the only financial advisers are IFAs. The rest are insurance agents who are not allowed to give advice. Just guidance (They can still give advice in 2008 but wont from 2009).

Cost will depend on whether you want to go fee basis or commission. It will also depend on how much work you want the IFA to do. Do you want a shortfall analysis, report and recommendation of type of life assurance, provider, how policy should be written and if a trust is required or do you just want someone to point you in the right direction with the forms?

If the latter, then dirt cheap because the IFA wouldnt take on the FOS liability for doing that. If the former, probably around £400-500 on fee basis or zero on commission but premium would be slightly higher to cover cost of commission.

Secret1234

Thanks for that, blimey! Thats quite dear! Think its just to point us in the right direction, we're both fit and healthy (but smokers) so the only real problem is just lack of knowledge about different policies. I guess reading up will help before we jump in feet first.

Thanks