Life Insurance For My Pa

Savage_Gizmo

right my ma and pa are wanting to take out some life insurance. from what i can gather his ran out today or yesterday or something like that. what they require is life insurance where they aren't required to have a medical. oh, my ma is 51 and my pa is 54 years old. so i was just wondering if anyone knew which company would be the best to go for in terms of cover, value for money etc etc

many thanks

Savage_Gizmo

lisyloo

I don't think any of the ones that don't require a medical are good value for money in general, because of course lots of ill people sign up and that has to be included in the price.

If they are well then they should consider having the medical.
If they really don't want the inconvenience then they won't get good value for money in my opinion.

Savage_Gizmo

unfortunately neither of them are in the best of health. mum had a stroke a bit back and my dad's got some kind of chronic lung disease or something like that. any ideas?

dunstonh

unlikely to get life cover at any reasonable cost. As lisyloo says, the "no medical" providers are often a complete waste of time as they will either exclude pre-existing conditions and/or give a tiny amount of life assurance for the premium being paid. Even if a standard life assurance did get accepted, it would almost certainly have exclusions on it.

There are some investments which can have life cover built into them based on the balance payable on death. A high risk investment strategy but with investment capital secured on death is sometimes used by those in poor health in an attempt to give a quick boost to the reserves. On death, worst case scenario, money is returned. Best case is high growth. Every few years after gains, withdraw the lot and reinvest therefore increasing the protected investment each time.