| Many
people use a combination of a Life Insurance policy combined
with a tax free saving scheme. The disadvantage with this is
that you are unlikely to get a Life Insurance policy which covers
you beyond age 70 and therefore, if you were to die beyond that
age you would have to rely on the value of your tax free saving
scheme.
On the other hand a tax free saving scheme can give you far
more investment flexibility which may enable you to obtain
higher returns than could be expected from a Life Assurance
policy.
The following Frequently Asked Questions are related to the
above topic. You may care to read them: -
What is the difference
between Life Assurance and Life Insurance?
What is a Whole of Life policy?
What does Life Insurance do?
What does Mortgage Life
Insurance do?
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