Life insurance ... Confused

loobyloo168

HI guys.

My partner and i are abot confused. Were 28 and 29 years old and have a 2 yr old daughter. We have no mortgage. We both want to take out life insurance but are confused as to what it al means. We have got quotes, but the terminology is abit confusing.

Can any one hlep us with what we would need ?

Or can any one point us in the right direction to get help ?

Also is there a differnce between life insurance and life assurance ??

Much appreciated

dunstonh

Also is there a differnce between life insurance and life assurance ??

Life insurance is incorrect. Its the American term. Life Assurance is the British term.

Can any one hlep us with what we would need ?

Or can any one point us in the right direction to get help ?

There are about 13 different types of life assurance. However, only 4 tend to be mainstream nowadays.

Whilst the site covers off some of the basics, if you are really struggling with it then get a local IFA out to see you. www.unbiased.co.uk is the UK database for IFAs.

If you want to go DIY then you need to know what the terms mean. Also, if you are unmarried, you need to be looking possibly at utilising life assurance in trust depending on what your financial circumstances are.