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May 17, 2021 6:00 AM Ben Moore
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More than half of Americans overestimate the cost of life insurance, according to the 2021 Insurance Barometer Study by industry groups LIMRA and Life Happens. Among millennials, 44% think a 20-year, $250,000 term life policy for a healthy 30-year-old would cost $1,000 a year, while the actual price tag is about $160.
If you’re expecting a high price, it’s easy to end up paying too much. Here are six signs that your life insurance quote may be too high, and some tips on how to lower it.
1. You’re buying a policy for its potential cash value
6 Signs You re About to Overpay for Life Insurance
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By John Hyde2021-05-14T11:35:00+01:00
A former probate manager has been banned from the profession after wrongly accepting a £20,000 gift from a 92-year-old client.
A decision notice from the SRA stated that Ben Moore, an employee with Yorkshire firm Ramsdens, had been instructed by the client in 2016 to draft a will and subsequently on three further matters.
Almost two years later, this client gave Moore a cheque for £20,000, which he accepted without informing the firm, in breach of its anti-bribery and corruption policy.
In 2019, West Yorkshire investigated allegations of financial abuse by third parties against the client: Moore told the police about the gift although he was not a suspect in the investigation and faced no charges in respect of it. But the police did report the matter to the SRA, who investigated and informed the firm. A disciplinary panel of Ramsdens concluded that Moore’s actions constituted serious misconduct and his employment was terminated.