One reason a lot of people don’t take out life insurance is that they think it will be unaffordable. More often than not, if you’re in reasonable nick and not too old, it’s cheap, and much cheaper than you might imagine: £500,000 for a 50 year-old until they’re 70, just £70 a month, for example. Not bad, I’d say, considering, worst case, the insurance company might have to fork out £half-a-million having only had £70 in return. Of course, you kind-of hope it’s a complete waste of money, and unless persuaded to the contrary, many will assume it is, or that ‘we’d be better off saving the £70 somewhere. Maybe, but maybe not. And the other (main) reason not enough are properly insured is that there’s no one out there doing the persuading these days. Sadly.
“Zombie life insurer Phoenix to buy Standard Life Aberdeen insurance arm in £3.2bn deal”
There’s not much to choose between many of the biggest life and pensions companies. Most have some decent funds and have to compete on charges and product features. So service and relationships are often the deciding factor, and Standard Life’s admin and people have...