Life insurance customers told having a will is important

By Marianne Straker, Mon 6 Jun 2011 - Published in Life Insurance

People with life insurance have been told that having a will in place helps provide a certainty and direction for those they leave behind.

This is according to the Institute of Professional Willwriters, which noted that having a will ensures that inheritance goes to the right family members and friends.

The organisation added doing this can cut down on costs and helps people divide up their estate with professional advice, as well as providing clarity over finances once a person has died.

Paul Shorpe, chairman of the Institute of Professional Willwriters, said: "It's important to have a will because it's the only way to ensure that the people you choose to inherit - or, in some cases, don't inherit - everything that you have spent a lifetime working for will do so."

Recently, the Association of British Insurers revealed that life insurance payments to bereaved families will be made more quickly to them, reducing the current waiting time from four months to four weeks.

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