Life Insurance - Please Help

Alligator1

Hi,

I need to start looking in to life insurance and I don't know anything about this yet.

Does anyone know if is possible and legal for me to take out a life insurance policy on my boyfriend or can you only take them out on yourself?

I would be paying the premiums and would be the sole beneficiary.

(Don't worry I'm not planning to bump him off!!!:D )

Also, where do I start in finding a good, reliable company? I know there are loads advertising for no medical and guaranteed acceptance etc but we have heard very poor reports on these and would rather pay the price for proper cover which will definitely pay out.

Thanks

dunstonh

Does anyone know if is possible and legal for me to take out a life insurance policy on my boyfriend or can you only take them out on yourself?

If you have an insurable interest then you can.

Also, where do I start in finding a good, reliable company?

All have to be FSA authorised do threre shouldnt be too much of a problem. However, not all policies are the same. You also have around 13 different types of life assurance although only 4 or 5 are mainstream nowadays.

I know there are loads advertising for no medical and guaranteed acceptance etc but we have heard very poor reports on these

Yes, these are generally poor quality and marketed to those that are paranoid about seeking advice and wouldnt know a good product from a bad one.

Alligator1

Thanks for that. Just wanted to make sure it was legal. Didn't want to appear to be planning to bump him off!:D