life insurance

baxbya

Can anyone recommend a life insurance policy for me? - I[m a 35 year old single Mum, with a 1 year old daughter and I want to provide for her when I die. I have a mortage and life insurance to cover that already. Is it best to get life insurance over a fixed period? (if so, if i don;t die in this period - is all the money lost ?) or is it better to get an indefinate one?
Thanks - sorry i'm new to all this

Wutang_2

speak to an IFA who can go through it all with you

wolftastic_2

A basic term life insurance policy will pay a fixed sum if you snuff it, you can select the amount payable on death. If you are a non-smoker and select a benefit of £100,000 over a 25 year period you might expect to pay around £8 a month. It is not an investment policy and will only pay out if you die, you may want to add critical illness cover which pays out if you get certain conditions e.g. cancer.

dunstonh

Is it best to get life insurance over a fixed period? (if so, if i don;t die in this period - is all the money lost ?) or is it better to get an indefinate one?

Depends on the financial need you are covering.

A whole of life assurance is unlikely to be the right option statistically but it could be. A level term assurance, decreasing term assurance or family income benefit are more likely and indeed, a combination of those is the most common.

(if so, if i don;t die in this period - is all the money lost ?

Just like car or house insurance.