Level Term Life Insurance Guide Discussion

dunstonh

AVENUE wrote: »

Maybe a bit of a morbid question, but do most life insurance policies pay out in the event of suicide or not?

Most will pay out as long as there is no history of mental illness prior to application and the policy has been in force for over 12 months. However, not all life policies are the same.

kazibo

Please advise

Hi I'm on my own and work full time and I want to find a cheap life insurance so I have something to leave to my family when I'm gone and without being taxed, but it's so confusing. I already have decreasing Mortgage insurance with my bank for the 7 years left, but when it's paid off I thought I'd use the equity of my house for my pension as I don't pay into one as I could never afford to. I have 3 grown boys and a grandson. I just want to have a good life insurance to help them. I also need advice on how to leave the money in trust so they'd get all the money between them and avoid it being taxed. Please help!

kazibo

Hi I'm not sure if my previous post has been seen, I think I may have used the wrong box to post as I'm new to the forum.
I would like some advice if possible please.
I am single with 3 grown boys and a grandson and would like some advice on life insurance. I have decreasing Mortgage insurance with my bank for £15 a month which will end in 7 yrs when the Mortgage is paid up. I have never paid into a pension as I could never afford to and thought I might use the equity from my house to keep towards my pension, however I have nothing in place to leave for my family and to pay for my funeral if I die and don't want to leave them with this burden, but ive looked at insurances and now feel confused at which is best for me:(:(:(, please help

rs65

Jessmartin82 wrote: »

Hi all, Whilst looking for life insurance (always a mine field) i have found a site called

How come all of your posts are to do with this firm?

Anything to do with having a friend who works for them? You didn't just "find the site", did you?

dacouch

Jessmartin82 wrote: »

Hi all, Whilst looking for life insurance (always a mine field) i have found a site called .co.uk I like the look of this. they seem to be very honest with their oppinions and options. well, a lot better than others anyway. When i spoke to them, they were happy to just give me advice and didnt once try to push me into anything. told me to take all the time i needed. Here are some of the quotes from the site

"If your quote is loaded (price increased) due to a pre-existing medical condition we'll use our advanced underwriting system (AUS) to try and find a cheaper insurer that offers the same cover.
It's all part of the service!"

"You need to set up your policy right the first time. Having an inadequate policy for the full term can cause all sorts of problems. However silly you might think your question is, we really don't mind".

"Majority of our consultants have at least 2 years experience.
Our staff stick with us for a reason and we don't pressure them to sell sell sell. They're more there to offer you options and hold your hand if need be."

Has anyone else had any dealings with ? and did you find it as helpful as me? or did i just get them on a good day?

Thanks for the advice, I assume it's Neal Foster.

This website was registered two weeks ago and has not been registered correctly with nominet.

Please also read this which your FCA regulation is subject to you conforming to as well as being a consumer law.

"18. A wolf in sheep’s clothing
Falsely claiming or creating the impression that the
trader is not acting for purposes relating to his/her trade,
business, craft or profession, or falsely representing
oneself as a consumer"

http://www.oft.gov.uk/shared_oft/bus...egs/oft979.pdf

InAFlutter

I am a little confused about how much I should be paying for advice. The advisor who helped us with our mortgage is now helping us sort out life insurance. He has told us that our monthly premiums will be higher if he organised the insurance for us, compared to online quotes which I have received directly from insurance companies (eg his quote for insurance from Legal and General is £3 a month higher than the online quote I received myself). He explained that going through him costs more because he will sit down with us and fill out the forms; whereas if I applied directly to the insurance company and gave all my details over the phone there is a chance that the agent might make a typo which could later affect our ability to make a claim. I’m now a little sceptical of my advisor because surely I can get round this problem by simply asking for a written copy of all my details from the insurance company to check that they are accurate.
Having read this article on MSE, it seems that using a broker for advice should be cheaper than going directly through the insurance company.
Am I being ripped off?

Any help would be greatly appreciated.

kingstreet

Ripped off?

By someone who is telling you it's more expensive to buy L&G cover through him?

Tied advisors often charge higher premiums and get higher commission. Those of us not tied to a single provider often charge the base premium and receive a lower commission as a result.

Can you get lower premiums by going direct to the insurer? Possibly, I don't know. However, if you are planning on writing this cover in trust, as everyone should, can you DIY the trust?

1312J

kazibo wrote: »

Hi I'm not sure if my previous post has been seen, I think I may have used the wrong box to post as I'm new to the forum.
I would like some advice if possible please.
I am single with 3 grown boys and a grandson and would like some advice on life insurance. I have decreasing Mortgage insurance with my bank for £15 a month which will end in 7 yrs when the Mortgage is paid up. I have never paid into a pension as I could never afford to and thought I might use the equity from my house to keep towards my pension, however I have nothing in place to leave for my family and to pay for my funeral if I die and don't want to leave them with this burden, but ive looked at insurances and now feel confused at which is best for me:(:(:(, please help

Kazibo,

I would look at some life insurance now on a level policy as in seven years time, naturally you will be seven years older. Look at policies which will pay off your mortgage if the worst was to happen and also leave a nice little pot for your loved ones.

rudekid48

karen10101 wrote: »

I have just recently bought life insurance at 33. I should ahve done it earlier. Better to be safe. Below is a good site I found who cater specifically for over 50s


life insurance guidline .com life insurance for people over 50

So, 3 posts advertising a website and your justifications this time?........................... You've just bought life insurance at age 33 so you thought you'd advertise a site that specialises in over 50's.... priceless.


SPAM SPAM SPAM SPAM SPAM

pjala

Hi,
I am asking for help on the above - I know it is life insurance, and it just gets renewed every 10 years.

But, it seems cheap compared to "whole of life" policies and I know SJP is expensive - from a post by Dunstonh.
I am getting nowhere asking for the pros and cons of the policy from StJames Place - so if anyone has any info I would be grateful.

Q's - I seem to be covered for "Critical Illness" - but it is not clear
I seem to be an "Investor", but I thought it was just insurance? Further to this it seems that the investment contribution is 100% - surely this means I can ask for the investment back?
In fact on termination of the plan (voluntarily that is!) - it states in the policy conditions "If the plan is terminated by us by the operation of [Non-Payment of Contributions], we will pay the value of the units allocated to the plan. We will calculate the value using the bid price applying to the date on which we terminate the plan"

Any help gratefully received.
Thanks.