Level Term Life Insurance Guide Discussion
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My daughter has just purchased her first home via an interest only mortgage (it was the only way she could afford to get on the homeowner ladder) but she is now wondering how she will pay off the remaining mortgage when it comes to the end of the term.
As they no longer do Endowment Policies could anyone offer advice as to what the best option would be please???:(0 -
LarryHarry wrote: »My daughter has just purchased her first home via an interest only mortgage (it was the only way she could afford to get on the homeowner ladder) but she is now wondering how she will pay off the remaining mortgage when it comes to the end of the term.
As they no longer do Endowment Policies could anyone offer advice as to what the best option would be please???:(
Remortgage to a better deal after a year or so...0 -
Thank you for the advise Geordie_Ben - I will keep that in mind for next year :-)0
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LarryHarry wrote: »Thank you for the advise Geordie_Ben - I will keep that in mind for next year :-)
In a year or so's time she should have a good record of making regular payments, might be in a better financial position, and mortgages may look a bit more appealing by then
If she can afford it start saving a 'deposit' she can pay off if/when she does switch to a better mortgage0 -
As they no longer do Endowment Policies could anyone offer advice as to what the best option would be please???
If she cannot afford a repayment mortgage then she cannot afford a repayment vehicle (which would typically be a S&S ISA nowadays).
Every year she delays starting a repayment vehicle, the monthly cost increases for when she does eventually start. So, she is now in the position of paying less now (which she cant afford) or pay more later (which she probably wont be able to afford).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi
We have decided on Life Assurance Term policies which suit our requirements, two individual policies, getting a 3 and 6 year old past Uni, which seems pretty straight forward. My query is with regard to 'In Trust' is this easy to set up as we would like to have the beneficiaries as either myself or my wife in the first instance and then the kids if both of us succomb or do we really need to get financial advice?
thanks views / help much appreciated0 -
My query is with regard to 'In Trust' is this easy to set up as we would like to have the beneficiaries as either myself or my wife in the first instance and then the kids if both of us succomb or do we really need to get financial advice?
It's straightforward. Just choose the trust type you want and complete the forms for it. It's only if the insurer doesnt have the trust type you want that it gets more complicated.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Can anyone reccommend an insurance/assurance policy for my partner please....
Basically, we are a couple, (not married) living together, I have life insurance with my work which will pay out 5x my salary upon my death , but he has nothing and we both feel the need for him to take out a policy that will pay out upon his death.
All we want is something pretty straight forward, to pay (x) amount per week and a guaranteed sum paid to myself upon his death, any advice please guys, i have read the first few pages of this thread and also Martins guide to life insurance, but am more confused to when i started.
Any advice/reccommendations would be very much appreciated.
TIAIt`s nice to be important, but its more important to be nice.
The world is full of people throwing stones at us. Its what you do with them that counts. Build a wall or build a bridge.0 -
All we want is something pretty straight forward, to pay (x) amount per week and a guaranteed sum paid to myself upon his death
income replacement would be a family income benefit policy
lump sum would be level term assurance.
Some people would use a level term assurance to provide an income (i.e. £100k lump sum providing an income of 5% net would be £5k a year).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Help! I searched on confused.com last night for 50+ insurance (to cover funeral costs) as my term life policy expires next year. I am 60. I received a call this morning from people from confused.com saying that I could get whole of life insurence and saying that for £30 a month I could get £20000 cover. They took my details and said policy was with pru life. I have not given bank details over as frankly I could not believe that anyone would insure/assure a 60 year old for a guaranteed £20000. Can anyone help surely there must be some catches.0
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