Insurance customers must ‘read the small print’
Individuals should make sure they read the small print when buying life insurance or critical illness cover, according to one independent advisor.
Jock Cassidy, the director of Ashley Law Limited, observed that a large proportion of customers tend to overlook the finer details of a premium.
"People tend to look at the top line and not the small print and, if you take critical illness cover as an example, some critical illness cover will have lesser benefits than others, but obviously the premiums are also lesser," remarked Mr Cassidy.
He continued: "If people don’t take the time to read the small print, then they’ll go for the cheapest option, but it does depend on each person’s circumstances."
The financial specialist pointed that more affluent customers tend to turn to a financial advisor to do the "shopping around" for them.
According to website Unbiased.co.uk, a growing number of customers have been seeking independent financial advice in order to get the best deals on life insurance, critical illness cover and other products.
The Insurance Helpline specialises in obtaining cover for people living with medical conditions
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