Co-operative insurance tips offered

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Co-operative insurance tips offered

A leading insurance firm has advised customers how best to avoid policy pitfalls when taking out life assurance plans.

Among the tips offered by Co-operative Insurance are alerts of rising premiums and details of which policies would best suit consumers with children.

The latter includes Income Benefit Assurance, where a quarterly sum is supplied to loved ones should the policyholder die, often amounting to a substantial amount of money.

Meanwhile caution is advised before taking out Whole of Life cover, as the company notes it is linked to stock market investment performance meaning people could get back more or less than they put in.

Fiona Jackson, head of protection at the Co-operative Insurance said: "It is so important for both men and women to evaluate their financial needs should disaster strike."

Her comments come in the wake of new research by the Co-operative Legal Service (CLS) revealing 34 million UK adults currently have no will.
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