Life Insurance Best One

SCREAMIN_BABIES

Please Can Someone Help Me I Know Nothing About Life Insurance And All I Want Is Something That Is Going To Give My Family Something To Help Them Get By If I Should Die Or Become Critically Ill .
For Around 25 Years
Dont Want To Spend Much Each Month Either
Does Any One Know If I Pay For 25 Years And Nothing Happens To Me Is That It I Have Paid Each Month And Dont Recieve Anything Back At All It Just Ends Or Do You Get Things Back
Sorry For Being Dumb But Please Help Me

dunstonh

Life assurance is relatively simple as the terms and conditions are much regardless of providers. So going with cheapest is not usually a problem.

Critical illness cover is a different issue. There are budget levels, comprehensive levels and varying options within those. Cheapest is rarely the best. Some plans are barely worth the paper they are written on. Some are quite expensive but cover things that others will not. Others are expensive but cover less

You can choose to have a plan that gives you money back. Its called endowment. If that doesn't put you off, it will cost about 2-3 times the premium of pure cover. Life/CI assurance is the same as car/household in that it only pays out if you claim.

SCREAMIN_BABIES

dunstonh wrote:

Life assurance is relatively simple as the terms and conditions are much regardless of providers. So going with cheapest is not usually a problem.

Critical illness cover is a different issue. There are budget levels, comprehensive levels and varying options within those. Cheapest is rarely the best. Some plans are barely worth the paper they are written on. Some are quite expensive but cover things that others will not. Others are expensive but cover less

You can choose to have a plan that gives you money back. Its called endowment. If that doesn't put you off, it will cost about 2-3 times the premium of pure cover. Life/CI assurance is the same as car/household in that it only pays out if you claim.

so have you got any idea of which ones are the best and which ones cover you for the most critical ill ness

dunstonh

so have you got any idea of which ones are the best and which ones cover you for the most critical ill ness

I have an idea but I havent done a protection policy for over a month due to a sudden pension/ISA rush so wouldn't want to rely on research over a month old. Especially as there has been two providers (that i know of) that have altered their product in that time. However, it's probably fair to say that Skandia is top of the range on the critical illness but you do pay for that. Saying that, Skandia's pricing is probably in line with inferior bank products.

For cheapness, the usual companies tend to take it in turn depending on level of cover, sum assured, age, term and smoker status. They would be Norwich Union, Scottish Widows, L&G, Friends Prov, Bright Grey, LVFS and rather strangely recently, Standard Life (strange as they are not a big player in that market but have been nudging up the competitive list).