Feb
01
2011
Life insurance 'important for company umbrella contractors'
Posted by Sarah Putt
Those with umbrella companies have been told of the importance of taking out a life insurance policy.
Malcolm Tarling, spokesman for the Association of British Insurers, believes that this financial resource is "probably underestimated".
However, he pointed out that company umbrella contractors who have dependents should see life insurance as important, as a death could result in them losing out financially.
"That is why it is important that you seek independent financial advice to make sure that you have got the right financial protection for your particular needs," Mr Tarling advised.
The expert went on to say that it is also essential for advice to be sought in order to make sure that the right product is picked out, covering the needs of the individual concerned.
Yesterday, umbrella company contractors were told of the rise of the 'silver savers', after 27 per cent of grandparents acknowledged that they put money away for their grandchildren from the day the youngster is born, according to C&G Savings research.
Those with umbrella companies have been told of the importance of taking out a life insurance policy.
Malcolm Tarling, spokesman for the Association of British Insurers, believes that this financial resource is "probably underestimated".
However, he pointed out that company umbrella contractors who have dependents should see life insurance as important, as a death could result in them losing out financially.
"That is why it is important that you seek independent financial advice to make sure that you have got the right financial protection for your particular needs," Mr Tarling advised.
The expert went on to say that it is also essential for advice to be sought in order to make sure that the right product is picked out, covering the needs of the individual concerned.
Yesterday, umbrella company contractors were told of the rise of the 'silver savers', after 27 per cent of grandparents acknowledged that they put money away for their grandchildren from the day the youngster is born, according to C&G Savings research.