There can be a number of pitfalls in not having an advised life insurance program:
- The policy may not pay you the correct amount
- Structuring the policy incorrectly, resulting in non-payment to the beneficiaries
- Tax inefficiencies
- The policy definitions not matching your goals
- Confusion at claim time
- Excessive or insufficient cover levels
- The full availability of cover options not offered or explained to you
- A ‘one size fits all’ approach.