Level Term Life Insurance Guide Discussion

CharleneUK

Weighty1 wrote: »

There are plenty of advisors who offer protection advice on a whole of market basis and don't change a fee (they'd be paid from the commission within the plan)

That's great news! I had no idea. I'll look into this.

Paradisehershey

I have just read the article, and I am interested in getting some life insurance. I don't have any dependants, but I would still like to just cover myself just incase. I do however have siblings, and I have been told to take it out, any advice / tips on where to get the cheapest deal?


Thanks in advance
Paradisehershey

dunstonh

I don't have any dependants, but I would still like to just cover myself just incase.

For what purpose? You wont be alive to benefit and its just a cost to you whilst you are alive.

I do however have siblings, and I have been told to take it out,

Do your siblings have any insurable interest in you? (you cant insure someone who you have no insurable interest in).
Who told you to take it out?
For what reason?

Paradisehershey

For the purpose of if I die my funeral costs are covered and to also lock in a cheap premium now so when I do have a family in the future it’s already there :money::)

fuzzgun19

I need a bit of advice please.

I took out a 'Term assurance' life insurance policy 10 years ago in my 30's. It was through Sainsburys Bank, provided by Legal & General. It is a 30yr policy.

My question is, recently I developed a medical condition (not life threatening) for which I take daily medication.

Would this invalidate this insurance if I was to die or become terminally ill?
I haven't called the insurer or even thought about this before. If I tell them will they want a lot more in premiums?

I've tried to read the t&c paperwork I have but can't make head nor tail of it.

dunstonh

Would this invalidate this insurance if I was to die or become terminally ill?

No. Life assurance applications are a snapshot at the point you take them out. So, as long as there were no symptoms or awareness of an issue prior to application, you are fine.

I haven't called the insurer or even thought about this before. If I tell them will they want a lot more in premiums?

you dont tell them. They dont need to know and dont want to know.

fuzzgun19

dunstonh wrote: »

No. Life assurance applications are a snapshot at the point you take them out. So, as long as there were no symptoms or awareness of an issue prior to application, you are fine.




you dont tell them. They dont need to know and dont want to know.

Thanks for putting my mind at rest.

SkiddleSkaddle

I bought a policy for 1 year to cover the very slight chance of being killed on a skydive (once I've survived this I will be seeing an IFA to sort out policies, etc more suited to my needs). Bought the policy and had it start on the same day, downloaded the trust form, going through the paperwork it specifically states, "the date inserted for Part A must be on a date on or after the last person signs on page 7 and must be a date before the new policy comes into force." Slight issue as this is physically impossible with the bought and started date being the same one! Is this written in stone though and will it matter if I put the same date?

humanracer

Hi I applied for a joint level term insurance plan at the weekend. It said instant cover yet due to a minor health concern that my partner has, she had to have a small phone interview and now has to wait for a form while the application is being processed. I really need cover ASAP in case anything happens to me. Am I better to apply for a single policy now and then cancel and apply for the joint one next week when we get the forms?

BarnyRead

Hi all,

I’m after a bit of life insurance advice. I’m a British citizen but live abroad. Is it possible to still get life insurance in the U.K. or do I need to be a current resident to do so?

Really appreciate any help.

Thanks.