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Who knows for whom the bell tolls?

I read with interest the letter by Jason King, managing director of Life Policies(Money Marketing, January 20). I do not know where he gets his figures from but I am sure that Terence O’Halloran will put him right.

I can only add, from my own personal experience, that my policy with Imperial Life (now part of Lincoln Financial Group), taken out with a sum assured of 120,000 initially (with automatic triannual increments for inflation without the need for further medical evidence), has never required an increase in premium, even though it started in 1984 and has been reviewed three times – 20 a month with a cash value exceeding 5,000 already is not too bad for a plan taken out on a maximum basis, in my book.

Perhaps Mr King knows when he is going to die and that is why he probably has life insurance that runs out at 60 or 65. I meet quite a few people like him (accountants, solicitors and so on) and I even have a special question on my fact-find for them, asking for their date of death. I bet Mr King has a pension too. What a waste of time if he is going to expire before receiving the benefits.

It is exactly Mr King’s attitude and that of others like him that does our profession a disservice. Who on earth selects a managed fund for a whole-of-life policy? I could go on but I am sure it will fall on deaf ears.

If you do not believe in insurance, why not go off and do something else?I know it may be a cliche but I have yet to deal with a widow or widower who tells me they have too much money, even the nice old lady I had to help in such a situation, aged 97 in November 2003.

Greg Pogonowski Senior consultant,Ample Financial Services,Lincoln


Advisers snub pro bono plan

A free financial advice pilot scheme by the Citizens’ Advice Bureau is stalling because IFAs are reluctant to sign up.

Home brew

Despite a brief interruption by my ramblings on the pre-Budget report, I have recently been concentrating on the important subject of inheritance tax planning using the principal private residence. On the face of it, this may seem like a subject of only passing importance to financial advisers as it does not involve any financial product but this would be a short-sighted view.


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