Finura Director, Nathan Mead-Wellings, talks to Money Marketing magazine about behavioural science in the context of financial planning.
One way of trying to reach a decision on something is to write a list of all the pros and cons of the action you are contemplating, then weigh them up accordingly. This requires honesty and objectivity.
However, everything you put on that list is inevitably shaped by your perceptions and experiences – all the things that make you who you are. So, when one column on your list is clearly longer than the other and pointing you towards that particular path, how do you know the facts of the situation are really speaking for themselves? Is there any chance you may have unconsciously filtered some out?
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Family Income Benefit Insurance is a special type of life insurance policy that pays out a regular income to your family members for a set period of time when you pass away.
Financial advice firms who adopt this standard adhere to a set of principles, giving clients confidence that they are dealing with an ethical adviser when receiving financial advice about whether a pension should be transferred.
There are various aspects of our lives that we can protect with insurance. One of these is your income, which can be protected via a policy called permanent health cover, or income protection.