Life insurance.

[Goochie]

The wife and I have decided to get some life insurance for ourselves, just incase I crash into a tree and die, the wife gets murdered whilst walking to work etc. etc.

Does anyone have any useful tips on what to look for in a policy?

Can you get policies that pay out before you die incase one of us gets diagnosed with a terminal condition? It would be nice to live the high life for my last few months!

Before anyone asks, we're both perfectly healthy and are not expecting to die any time soon!

[The Curn]

How are things in the relationship?

Did she suggest this?

[scotal]

Phil,
YHM

[Goochie]

The Curn said:

How are things in the relationship?

Did she suggest this?

We've recently been looking at BUPA and this came up in conversation - both of us think its a good idea and neither of us have plans to kill the other (I hope !)

Edited by Goochie on Tuesday 4th November 10:18

[jameshaworth]

Try and get Guaranteed premiums (they are guaranteed not to increase, with Reviewable plans they reserve the right to increase your premium every few years).

Friends Provident will do Life Only cover until 85 years of age I think Im right in saying!!

PM me if you want further details.

Cheers

[steve_amv8]

Goochie said:

The wife and I have decided to get some life insurance for ourselves, just incase I crash into a tree and die, the wife gets murdered whilst walking to work etc. etc.

Does anyone have any useful tips on what to look for in a policy?

Can you get policies that pay out before you die incase one of us gets diagnosed with a terminal condition? It would be nice to live the high life for my last few months!

Before anyone asks, we're both perfectly healthy and are not expecting to die any time soon!

That's a policy with Terminal Illness Cover.

You wil also need to decide whether you want a Level Term policy as this will pay out the same amount over the full term of the policy.

Take a look at the Sainsburys Bank insurance FAQ as it will answer most of your questions .... http://www.sainsburysbank.co.uk/insuring/ins_faq_l...

[scotal]

jameshaworth said:

Try and get Guaranteed premiums (they are guaranteed not to increase, with Reviewable plans they reserve the right to increase your premium every few years).

Friends Provident will do Life Only cover until 85 years of age I think Im right in saying!!

PM me if you want further details.

Cheers

Have you ever recommended life cover (without CIC) that doesnt have guaranteed premiums? Unless there is a highly compelling reason for it, our compliance nazis would rip me a new ahole.

[shirt]

my parents sorted out my life cover and i took over the premium when starting work.

no idea if its any good but it was a 10yr policy with returns and runs out in february. as i haven't died i will be getting a payout. the last payout was £2.5k but doubt this one will be as good with the markets taking a battering. still better than nothing though

[jameshaworth]

No I'd never personally recommend it!! - However I have come across many people who have purchased such policies when buying online!! (Although some of these people say they are pleased with the product as they say its cheaper and has been Reviewed down not up)!

[Goochie]

shirt said:

my parents sorted out my life cover and i took over the premium when starting work.

no idea if its any good but it was a 10yr policy with returns and runs out in february. as i haven't died i will be getting a payout. the last payout was £2.5k but doubt this one will be as good with the markets taking a battering. still better than nothing though

So what happens if you die after it's paid out ? Or is the idea that you re-invest the pay-out in another policy?

[shirt]

Goochie said:

shirt said:

my parents sorted out my life cover and i took over the premium when starting work.

no idea if its any good but it was a 10yr policy with returns and runs out in february. as i haven't died i will be getting a payout. the last payout was £2.5k but doubt this one will be as good with the markets taking a battering. still better than nothing though

So what happens if you die after it's paid out ? Or is the idea that you re-invest the pay-out in another policy?

i take the money and say thanks very much, then open a new policy. can't remember what they call this type of policy as i've never read the booklets [i am invincible!] and it was set up for me. i will be looking at it a lot more closely in feb. when i renew.

i think i pay £15 a month, so the last one i had made £1000 profit. better than nothing and am hoping the payout will be enough to cover next years summer holiday policy is with royal london.

[NoelWatson]

shirt said:

Goochie said:

shirt said:

my parents sorted out my life cover and i took over the premium when starting work.

no idea if its any good but it was a 10yr policy with returns and runs out in february. as i haven't died i will be getting a payout. the last payout was £2.5k but doubt this one will be as good with the markets taking a battering. still better than nothing though

So what happens if you die after it's paid out ? Or is the idea that you re-invest the pay-out in another policy?

can't remember what they call this type of policy

A con