Level Term Life Insurance Guide Discussion

kingstreet

So, you do have the acceptance terms, so whatever medical information they required, they have received.

This contains the terms and conditions. Guaranteed Insurability Option is normally only available to those with a "clean" medical history and is unlikely to be offered by any other provider in the circumstances.

The insurer is awaiting your instructions to proceed.

Kaybenson

kingstreet wrote: »

So, you do have the acceptance terms, so whatever medical information they required, they have received.

This contains the terms and conditions. Guaranteed Insurability Option is normally only available to those with a "clean" medical history and is unlikely to be offered by any other provider in the circumstances.

The insurer is awaiting your instructions to proceed.

Is the premium a fair one?

kingstreet

Only you can tell us what cover you "need." We could only answer that once we know your priorities and concerns about what might happen in the event of things like death, illness, disability etc.

Please get your policy documentation and tell us exactly what cover you have.

From the sound of it, you really need advice to establish what cover you have, to establish your needs and to find you the best and most effective cover for the budget you want to make available.

An Independent Financial Advisor should be your first port of call.

Starting your own thread may have been a better option than tagging on this generic "level term" thread.

Shepherd1978

Hi

Some advice please!

Me and my wife currently pay £49 p/m for decreasing life assurance to basically cover mortgage in the event of one of us dying.

Current total sum payable in £153k dropping to zero when payments finish in 2027.

However, as we have two young kids perhaps it would be better to switch to a level policy for £150k for the next 20 years? That would apparently only be around £19 p/m from the same provider!

kingstreet

Level term cheaper than decreasing?

That doesn't make sense. Decreasing term is cheaper because it... decreases.

£49 to £19 is far too big a jump. Is there something else in the cover, such as critical illness cover or income protection?

kingstreet

kingstreet wrote: »

Only you can tell us what cover you "need." We could only answer that once we know your priorities and concerns about what might happen in the event of things like death, illness, disability etc.

Please get your policy documentation and tell us exactly what cover you have.

From the sound of it, you really need advice to establish what cover you have, to establish your needs and to find you the best and most effective cover for the budget you want to make available.

An Independent Financial Advisor should be your first port of call.

Starting your own thread may have been a better option than tagging on this generic "level term" thread.

Forgive me quoting myself, but this was a response to a post which has disappeared! :eek:

dunstonh

kingstreet wrote: »

Forgive me quoting myself, but this was a response to a post which has disappeared! :eek:

Don't worry. i saw the post you responded to. You are not going mad.

emeraldemma

Can anyone give any advice about placing my life insurance into trust please?

Also does anyone know of a company that does life insurance for people with medical conditions? My husband has cystic fibrosis.

Thank you

kingstreet

"Normal" providers may consider such a case at a loading and there are specialist "impaired life" underwriters who may have a solution.

Your best option would be an IFA, to establish the best cover and most likely provider with the best terms for your individual circumstances. IFAs can use dedicated underwriting phonelines to get the underwriter's opinion before they submit an application.

The IFA will be able to do the trust at the same time on a new policy and will normally be able to obtain the necessary trust for for an existing policy, if it's one you already have.

emeraldemma

Thank you kingstreet