Insurance provides financial protection for you and your family for unexpected situations. However, there are lots of different types of insurance products available and you might not know which ones are most suitable for you.
Using the expertise of an insurance adviser can help you to find the most suitable insurance solutions to give you peace of mind that there is adequate financial protection in place should you need it.
What does an insurance adviser do?
An insurance adviser is a qualified professional who provides advice on the insurance products available based on your specific requirements. They have a comprehensive knowledge of the available products and use an individual risk assessment to recommend products that offer the appropriate type and level of protection.
How advisers compare policies and find the most suitable deals
The process starts with an individual assessment of your needs. This involves a detailed analysis of yours and your family’s financial needs and risks, and protection priorities. They will review your current financial position, such as your outstanding mortgage amount and other financial commitments, as well as the number and age of dependents, and household income.
They will also look at your budget and ask you about your protection priorities. They use all of this information to compare the different policies to identify the most suitable ones to meet your requirements. They will usually have a network of trusted insurance partners that provide the most advantageous deals that may not be available directly through insurance companies.
How professional advice helps you avoid underinsurance
Professional, qualified advisers are in the best position to assess your full insurance needs. They review all potential eventualities to make sure that you have the correct level of cover based on your specific assets and risks.
Without the expertise of an insurance adviser, you could leave your family in a vulnerable position if you are underinsured. Advisers will account for factors such as inflation and will make sure that policy limits or coverage gaps will not leave you underinsured.
By performing a comprehensive risk assessment and evaluation of your assets, an adviser will be able to find the most suitable products to meet your budget.
