Life Insurance

csa

I feel I need to start thinking about life insurance for me and my family. Currently the only security I have if my husband dies is that the mortgage would be paid off, other than that I would recieve nothing.

Where should I start regarding looking at getting the best life insurance cover for both myself and husband?

Thanks

dunstonh

Where should I start regarding looking at getting the best life insurance cover for both myself and husband?

Assuming you dont use an IFA to do it, you would need to do the following:

1 - work out your shortfalls in capital and income on death. Include pension and state provision where applicable.
2 - decide what type of life cover is best for the need. This usually means level term assurance, decreasing term assurance, pension term assurance, pension decreasing term assurance, whole of life assurance or family income benefit. A combination may well apply.
3 - then research which provider is best for you. This isnt always down to cost but can include types of medical questions asked and addons and options within the plan
4 - decide if the plan needs to be written in to trust to reduce IHT liability and pick an appropriate trust.

Once you have done that, you can go online and set it up.