Vetting help to review old policies you've paid into for years

A financial advisor worth hiring can unearth real money sitting in old policies you've forgotten about or misunderstood. They spot overlapping cover, premiums that have crept up, and terms that no longer fit your life. But picking the right person to do that review is different from choosing someone to sell you new cover. You need someone who'll give you unbiased truth about what you own, not pressure to replace everything.

Verify their credentials and registration

Before you hand over policy documents, confirm the advisor is actually qualified to give you life and disability advice. Search the FSCA register (Financial Sector Conduct Authority) to check they're an accredited advisor or at a licensed financial services firm. Ask for their registration number and confirm it matches what you find online — don't rely on what they tell you.

Also ask if they're a CFP (Certified Financial Planner) or hold relevant professional qualifications. These aren't always required, but they show commitment to standards. Request proof if they claim any professional accreditation; legitimate advisors will provide it without hesitation.

If they're employed by a firm rather than self-employed, check that firm's FSCA status too. A single missing registration is a red flag to walk away.

Request their fee structure and conflicts upfront

Before the review begins, you need to know exactly how they're paid and whether they stand to profit from recommending changes. Ask these three things in writing:

• Do they charge a flat fee, hourly rate, or percentage of assets they advise on?
• Will they earn commission if you replace any of your policies?
• Are they tied to any insurer, or do they advise across the whole market?

If they're vague or dodge the question, that's your signal to find someone else. The best advisor for a policy review is often someone who charges you directly for their time rather than living off commissions. That removes the temptation to recommend unnecessary changes.

Also ask for references from people whose old policies they've reviewed — not sold to, reviewed. Phone two or three and ask whether the advisor spotted genuine gaps or savings, and whether they proposed changes that actually benefited them.

Check what they'll actually deliver

Before you hand over documents, agree in writing what the review will cover. A proper policy review should include:

• A summary of every policy you own, what each one covers and what you're paying
• A comparison of each policy's terms against your current life stage, dependents and income
• Clarity on whether premiums are locked or reviewable, and what happens when they adjust
• A written report with recommendations — and honest reasons why, or why not, you should make changes

Ask them to give you a timeline too. A thorough review takes weeks, not days, because they need time to request documents from insurers and cross-check terms.

One practical step: provide them with recent pay slips, details of any dependents, and your current financial commitments. But don't overwhelm them with information they didn't ask for. Let them direct what they need.

Red flags to watch for

If an advisor recommends replacing most of your existing policies without explaining why, or pushes you toward a single insurer, their advice is suspect. Similarly, if they can't explain in plain language what cover you currently have or why you need (or don't need) changes, they don't understand your situation well enough.

Also be wary if they pressure you to decide quickly. Good review work shouldn't feel rushed.

Finding someone trustworthy to untangle years of accumulated cover is worth the effort upfront. Use Strove to search verified advisors in your area, read their ratings and check whether past clients mention policy reviews in their feedback. Once you've verified credentials and confirmed their fee structure, you'll know whether they're the right fit to give you honest answers about policies you've been paying into too long.