life insurance
Mar 2nd, 2007 by complex001
A common mistake made in buying life insurance is in not buying a policy that is fit to purpose. In effect many people find themselves insured for most of their lifetime for an inappropriate amount of money. This makes people pay too much for the insurance that they need to have their estate paid more than is wanted or large sums paid in their later years 70+.
One of the solutions to this is to use a family income benefit contract which reduces the required premium significantly (40%+) by paying out instead of a solitary single substantial benefit a smaller recurring benefit.