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  • FIRST POST
    • ktcoil
    • By ktcoil 11th Jul 17, 8:43 AM
    • 535Posts
    • 36Thanks
    ktcoil
    Good life insurance?
    • #1
    • 11th Jul 17, 8:43 AM
    Good life insurance? 11th Jul 17 at 8:43 AM
    Hi Guys


    Can anyone recommend a life insurance, we did a joint life insurance quote with Legal and general and it was £36 per month, if this about right? they also have a deal that you receive a £75 m&s card after 4 months, or is it best to do individually?


    This price was not for illness either, also when it asks the question about mortgage do I put the full amount ie £125,000 or would I put half so £62,500? I would be leaving it to my partners name and vice versa.


    thanks
Page 1
    • Malthusian
    • By Malthusian 11th Jul 17, 10:20 AM
    • 3,460 Posts
    • 5,299 Thanks
    Malthusian
    • #2
    • 11th Jul 17, 10:20 AM
    • #2
    • 11th Jul 17, 10:20 AM
    L&G are generally competitive but we can't have any idea whether it's a good quote or not when you haven't said how much the cover is, how long, how old you both are and whether you have any health or lifestyle issues. Get a comparison from a comparison website or an independent broker.

    The M&S card should be ignored as £75 over the course of a normal life cover policy will amount to pennies per month, assuming you even remember to claim it and then spend it. Go for the most competitive quote.

    It's not clear whether you're asking what the sum assured should be or whether the mortgage question is just for the insurer's records, but either way you should put the full amount assuming you want the partner to be able to pay off the mortgage in full should the worst happen.
    • ktcoil
    • By ktcoil 25th Jul 17, 1:30 PM
    • 535 Posts
    • 36 Thanks
    ktcoil
    • #3
    • 25th Jul 17, 1:30 PM
    • #3
    • 25th Jul 17, 1:30 PM
    Hi I have taken out lift insurance now.


    Me and my partner both have a mortgage for £125,000 between us.


    I took life insurance for £125,000 and £8,000 for my current loan, my partner is going to take out there insurance soon.


    If I was to die now how does the company know I have died and how much do they get £125,000 as I didn't select the decending option? also would it go to my partner as we are not married or would it go to parents? there was no option to select a persific person? Do I have to do a will for that?


    thanks
    • PeacefulWaters
    • By PeacefulWaters 25th Jul 17, 1:46 PM
    • 7,307 Posts
    • 9,052 Thanks
    PeacefulWaters
    • #4
    • 25th Jul 17, 1:46 PM
    • #4
    • 25th Jul 17, 1:46 PM
    If I was to die now how does the company know I have died
    Originally posted by ktcoil
    Somebody, usually your executor, sends them your death certificate.

    and how much do they get £125,000 as I didn't select the decending option?
    If it's £125k level term policy the payout would be £125k.

    also would it go to my partner as we are not married or would it go to parents? there was no option to select a persific person? Do I have to do a will for that?
    Definitely get a will rapidly.
    • dunstonh
    • By dunstonh 25th Jul 17, 2:44 PM
    • 89,924 Posts
    • 56,599 Thanks
    dunstonh
    • #5
    • 25th Jul 17, 2:44 PM
    • #5
    • 25th Jul 17, 2:44 PM
    Please refer to the duplicate thread in the insurance section for more info.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • robber2
    • By robber2 25th Jul 17, 8:43 PM
    • 285 Posts
    • 230 Thanks
    robber2
    • #6
    • 25th Jul 17, 8:43 PM
    • #6
    • 25th Jul 17, 8:43 PM
    Hi I have taken out lift insurance now.


    thanks
    Originally posted by ktcoil
    hmmmm, bit of a niche product that one
    • ktcoil
    • By ktcoil 26th Jul 17, 10:28 AM
    • 535 Posts
    • 36 Thanks
    ktcoil
    • #7
    • 26th Jul 17, 10:28 AM
    • #7
    • 26th Jul 17, 10:28 AM
    sorry life
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