Life insurance

13
Posted 29th Jan
Just wanted a straw man poll on who has life insurance, how much cover, how long for, how much you pay per month, do you have critical illness cover, who is policy with??

Mrs is getting obsessed with it and wants one taking......maybe she wants to throw me off the bridge!!!
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£28 per month
Death & Critical Illness
Total Payout of full remaining mortgage balance (decreases with time obviously) + £10000 for funeral and anything else she wants.
Done with Aviva through an independent broker.
None.
It all depends on your needs. Do you have a mortgage or kids? CIC/IP is probably a better idea if not.
Just because your Mrs is getting fat doesn't mean she needs life insurance, unless you plan on trading her in for a slimmer model
Not exactly going to need money when I'm dead. Unless I'm faking it etc..

Got enough money to pay for my no frills funeral. Wouldn't want anyone profiting from my death etc...
Edited by: ".MUFC." 30th Jan
Hubby has £40 per month, Death & Critical Illness.
£300k Level Term with Legal & General, taken out through an Independent Advisor.
I have a large pension of equivalent value that will pay out/transfer across upon my demise.
Edited by: "Toptrumpet" 30th Jan
Me and partner have it £34 a month (joint policy) for 10 years, with direct line £100k also death and critical illness 25k not sure if it's a good deal as I did no price comparison.
And I don't think they would pay out if she threw you off a bridge
Cost is very much dependant on age - the younger you are at the time of taking the policy the cheaper it costs.

Take it out when you are young with a long term - cheaper if you can afford an annual payment each year than paying monthly.

Use a price comparison website - i took my current insurance out 11 years ago and am with Aviva - but I would just take the cheapest.
Absolute rip off, the only things that require insurance are cars and property. For anything else just put the money you would have wasted in to a savings account, premium bonds, shares.
Op its down to commitments, if you have family and how you want to provide for your wife, even without kids. We have it as part of our mortgage but also extra cover to ensure that we dont have to worry about work and looking after the kids. You might find your pension gives cover and a payout on death as a lump sum or widows or kids pension. If you are young enough and in good health premiums will be cheap and take out as long as you can as when you get older the price will rocket.

All about preference really and how you want to ensure your family is covered.
Azwipe30/01/2020 11:07

Absolute rip off, the only things that require insurance are cars and …Absolute rip off, the only things that require insurance are cars and property. For anything else just put the money you would have wasted in to a savings account, premium bonds, shares.


speaking as someone who has benefited from life insurance, this is a facile ignorant comment. Life insurance can pay off your mortgage, do you have enough put away to do that? I was left alone with a disabled child which meant it was impossible for me to carry on working and look after him.we had life insurance which paid off the mortgage and provided me with an income which enabled me to look after my child. We had a policy which paid me £8500 a year till he was 21. It cost £16 a month. Also had a policy which paid off the mortgage. Putting a few quid away wouldn't have done that
Edited by: "psychobitchfromhell" 30th Jan
£200,000 level term until the end of my mortgage so plenty left after paying the mortgage off. £20 a month & includes income protection of half my gross wages if i can't work for up to 2 years. I took it out via a mortgage broker when we bought the house. Also on a side note, we sorted wills at the same time
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