Which? agrees with Winston

Following on from my blog about what Winston Churchill had to say about people insuring themselves correctly, here is what Which? had to say - so again, don't take my word for it!

Which? has included life insurance and income protection (IP) on its list of the best financial products.

The consumer association previously listed IP as a preferred alternative to payment protection insurance when PPI made its worst financial products list.

It described income protection as "vital if your employer doesn't cover your salary when you are sick, or you don't have a big savings pot."

Which? added that life insurance is a must-have if you have dependants, saying: "It's not a pleasant thought, but, if you die young, you need to make sure your family is covered. Don't put it off either, the younger you are, the cheaper it is."

It also highlighted the importance of having a comprehensive will to protect your wishes.

"Wills aren't something you really want to think about, but not writing one could mean real financial worry for your family. Making a will ensures your money goes to who you want it to," it concluded.

One area that I am undertaking a lot of work on just now with my current clients who want or have any life insurances is the area of trusts, which can have a very significant impact in terms of both probate and inheritance tax mitigation in terms of ones financial independence and financial planning. If you've been watching Gerry Robinson's TV series 'Can't Take It With You' all about making wills, you'll have noticed that trusts have featured in almost all the wills written.

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If you want to find out more about any of the above, please do feel free to get in touch.