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    life insurance help

    I want life insurance to pay for my funeral etc and have some money for the kids when i die (hopefully not any time soon) but i have just tried to get a quote and im confused! I want to pay around £10 a month but what type of insurance do i need and how much cover? I dont need mortgage protection as i dont have a mortgage yet. Any help would be much appreciated

    7 Comments

    i was once told , dont pay into anything that doesnt pay out if you dont die!
    eg buy some premium bonds that can be cashed in for their face value.
    have a cheap funeral, i want to be composted!:w00t:

    Original Poster

    chezz2;6788321

    i was once told , dont pay into anything that doesnt pay out if you dont … i was once told , dont pay into anything that doesnt pay out if you dont die!eg buy some premium bonds that can be cashed in for their face value.have a cheap funeral, i want to be composted!:w00t:



    lol! i want a cardboard coffin. whats the point in spending loads of money on a coffin that i cant see and that is going to get set on fire anyway!

    Ps what are premium bonds and how do they work?

    chezz2;6788321

    i was once told , dont pay into anything that doesnt pay out if you dont … i was once told , dont pay into anything that doesnt pay out if you dont die!



    you will die, FACT!

    I think most banks do schemes on these lines in fact i had one through the door from the halifax this week.This was for over 50's supplying about 3 grands worth of cover for a tenner a month.The post office are also advertising a similar scheme on the tv and lastly funeral directors have a prepaid scheme.Hope this gives you something to work on.

    You probably want a level term insurance... ie... till you retire and cover for £10 per month... you will probably just get death only, though some like L&G or Aviva sometimes include critical illness with the cover, though Critical illness and death is usually really expensive and only covers certain things.

    chezz2;6788321

    i was once told , dont pay into anything that doesnt pay out if you dont … i was once told , dont pay into anything that doesnt pay out if you dont die!eg buy some premium bonds that can be cashed in for their face value.have a cheap funeral, i want to be composted!:w00t:



    Thing is you will die... no one has a sell by date on their birth certificate..

    You got to remember that when you die your loved ones maybe subject to Inheritance Tax and they will have to pay this tax before they can get their hands on those premium bonds etc...

    If you want cover to be for rest of your life whole of life cover is better term assurance ends at some point hence it being called term! max age it ceases is 80 so if u live to 81 no cover there! Btw inheritance tax only kicks in if your estate is worth more than 325 thousand for this tax year threshold may increase next year ! speak to an IFA or try L&G Aviva or Liverpool victoria online

    Just had a thought Liverpool Victoria minimum sum assured on whole of life is £10,000 so might be more expensive than £10 a month.
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