Life Insurance - How Much Do I Take Out?

jackster109

Hi

I am looking to take out life insurance but I'm unsure on how much to take out and for how long?

I've recentley take out a mortgage of £56,250 over 25 years. So I was looking at taking out a my life insurance for £60,000 over 25 years.

Is this an adviseable amount, as if anything happens to me I would the mortgage to be paid off and some left over to cover a funeral.

Thanks

_Andy_

Speak to an IFA.

mark55man

That would be the minimum, but would those who survive you need anything to live off, or would they be self sufficient

Speak to an IFA, but remember they want to sell insurance so will max out the downsides, and minimise what other cover you might have (like a supporting family network, or other assets) - so you need to be sure what you want and have thought about the unpleasant scenarios around one or more of your family dying with you