Dads Life Insurance cover is not enough

Ladywriter1968

I need some advice. My dad never bothered with life insurance when he was younger, he was never any good with money or keeping up payments or nothing like that, he was always in debt. So I took up the Sun Life over 50's Plan for Dad which I started up about 2002 I think, I have been paying £12PM and he is only covered for just over a thousand pounds.

The social worker said to me that she does not think that the LA with help out with costs when the time comes cause Dad is insured. But I don't have the money to top it up as I am living on my means just barely getting by myself now.

Is the social worker wrong in this information? As I don't think she knows everything when it comes to the financial side really. But that's just my opinion though.

The social worker and friends suggested me dropping dads insurance cause its not worth much money and wont even cover funeral costs. I know that £12PM works out more over the years but thats the set amount the insurance company will pay. And also considering dads age now of 79 years old, Sun Life was the only insurance who would even entertain taking my dad on at his age plus his health as well. My dad would have been around 70 when I took the policy out I think.

Advice please?

duchy

Have you checked to see what a funeral would cost with the local co-op etc ?
What happens to the insurance if you stop paying ? Do you just lose everything ?

McKneff

Think the cheapest funeral nowadays is over £2k

I remember the Sun Life insurance thing, yes you don't get anything back
as the £12 insurance money has done exactly that, insured just for the time he has had it.

Trouble is, if you stopped the insurance it would take a long time to save £2k up and in any case i would look up what help yu would get from the gov if you did stop it. They would go into your finances (as well as other clost relatives) before granting anything towards a funeral and in anycase the bereavment grant wouldnt be anywhere near what a funeral wuld cost.

dunstonh

So I took up the Sun Life over 50's Plan for Dad which I started up about 2002 I think, I have been paying £12PM and he is only covered for just over a thousand pounds.

These over 50s plans are generally awful and should be considered a last resort. A standard whole of life assurance would have been better for most.

The social worker said to me that she does not think that the LA with help out with costs when the time comes cause Dad is insured.

That is not correct. The LA step in when all assets have been sold and there is nothing left in the pot to cremate him. You should consider them a last resort only. You would also not be able to arrange the funeral yourself and there would be little in the way of ceremony or service.

Ladywriter1968

Thanks all for your advice above, to tell you dunstonh though, dad has no assets at all and myself we are struggling to survive ourselves. Dad is now in a care home being paid by the LA and the other half is being taken from his pensions etc, he previously lived in a council house and has no savings at all. I am his only child and my Mother died when I was a child myself. His only other family would be his brother and niece left now and they do as little as possible as it is now so could not see them contributing towards a funeral and I def do not have that kind of money.

You say the LA do it all and give you no choice of anything, does this include area of funeral? As you seen to know a lot about this? thanks for your help.

Ladywriter1968

My Mother was buried in a cometary not cremated when she died, but as I was only 16 dad arranged this all and I don't know if he borrowed the money if she was insured or what. Years ago he said he could be put with her, but the problem is, I don't have that kind of money to enture up a grave(not sure of correct word or spelling for this) a grave etc. Dad said he wanted these things but never bothered to get himself insured years ago to prepare for this sort of things. He knew I never had much money for never thought about it really.

Mojisola

I know of some families where the second parent was cremated and the ashes buried in the grave which was much cheaper than opening the grave for another burial.

Was your father ever in the armed forces? If so, SAAFA would be worth contacting. There's also help for some other types of employment through charities.

Ladywriter1968

Mojisola wrote: »

I know of some families where the second parent was cremated and the ashes buried in the grave which was much cheaper than opening the grave for another burial.

Was your father ever in the armed forces? If so, SAAFA would be worth contacting. There's also help for some other types of employment through charities.

yes he was thanks for info

McKneff

There is also the British Legion who I;m sure would be happy to help even now by visiting him etc.