Helping you find the cover that’s right for you

● A good adviser will not only help you establish how much life cover you need but also whether you need income protection or lump sum disability. You should also benefit from an independent expert adviser’s due diligence and selection of suitable cover from the range in the market.

Devon Card, independent financial adviser at Crue Invest, says many people think financial advisers are just out to sell them policies. But a good adviser should help you understand what you are paying for so that you don’t find out too late that the cover was inappropriate.

A good adviser will help you find out:

● What percentage of the assurer’s claims are paid; ● The exclusions on your cover;

● Any loadings on your premium;

● The way premiums will escalate, how long before there could be a big increase and when a premium increase could make cover unaffordable;

● How much more cover you can get without new underwriting if at a later stage you want to increase your cover;

● Whether benefits such as disability or dread disease cover are accelerated benefits – that is, early payments of the life cover, which, if claimed, will reduce the cover paid on death;

● Which insurers have particularly good benefits for illnesses prevalent in your family; and

● When an insurer has a new offering you should consider.

Disability and dread disease products can be tricky to navigate, especially if you have any illnesses or injuries or are no longer young and healthy.

Financial Coach adviser Gregg Sneddon says he is currently arguing with a life assurer that wants to load the policy of a tall, big man because its view of his body mass index is that he is obese.