Life assurance term cover

Reba_2

Hi All
I'm new to these forums but been a long time subscriber to the website... I was wondering if you can advise on how long we should be looking for life assurance term cover - we are both 27 and I was thinking at least 60 years but all the stuff around seems to be talking about much shorter terms than that, would appreciate feedback and advice. I think we may struggle to find longer term life assurance
thanks again
R

dunstonh

. I was wondering if you can advise on how long we should be looking for life assurance term cover

We cannot advise as the board isnt authorised to give advice. Discussion and comment only. Generically, the term should match the financial need.

all the stuff around seems to be talking about much shorter terms than that

what stuff?

I think we may struggle to find longer term life assurance

No reason why you would.

yelf

term assurance is generally used to match a liabilty and most end at 75. why do you want life cover?

Annisele

It would be unusual for somebody to need life cover over a 60 year term. (Note - I'm not saying that you don't have such a need, just that it's unusual).

Some of the most common reasons people need life cover are:-

• Mortgage protection. Those people generally insure for the terms of their mortgages, so usually not more than 25 or 30 years.
• Family protection. Those people usually insure until their youngest child reaches the age of 18 or 21.
• IHT mitigation. Those people usually have a need for life cover for the whole of their lives, so they might take whole of life ('WOL').

I'm struggling to think of a reason why, at 27, you might need life cover until you're 87 but not until 88. That doesn't mean no reason exists though! If you want advice you should see an IFA.