Businesses can save money by renegotiating their life insurance

Posted on November 1st, by editor in Caring Times. No Comments

|By Andrew Gruncell, associate director of RCC Insurance Brokers| Few business operators realise they could save hundreds of pounds a year by renegotiating their life insurance policies. Life insurance costs in general have been cut quite substantially over the past couple of years, as a result of increased competition in the insurance sector. More companies see that the market is profitable and are determined to gain a slice of the action. But, by and large, the business community is unaware that considerable savings could be met by shopping around for a more acceptable quote. Life insurance policies are a very important part of most businesses¹ financial structure. In most cases, banks insist that lenders take out a life insurance policy to protect the loan in the event of a catastrophe. But once a life insurance policy has been taken out, it is not generally known that it can be cancelled and a new one negotiated at more favourable premiums. However, banks will insist that the current policy is not cancel

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