Life assurance for 40+ male smoker

madmum33

I've been looking at life assurance for myself and my OH and can't believe the difference. I can get £77,000 of cover for £10 a month (15yr term assurance, 40yr old female), but my OH is a smoker and from the same provider he can only have £13,000 for £10/month (15yr term, 46yr old male).

Are there any better offers? This was from our bank (NW), so I imagine there are.

Thanks for any help!

peterg1965

Hi Madmum.
There are plenty of cheaper and better places to look for life insurance. Banks, in my opinion, are notoriously expensive when it comes to that sort of product.

Try looking at MSE article on cutting life insurance costs. Look at https://www.cavendishonline.co.uk They are an online broker, and very competitive. I recently took out a £270,000 mortgage protection cover joint lives (M41 and F44) over 18 yrs for £31/month. We are non smokers.

Have had a quick look at quotes for you; you could get £100,000 cover over 15 years for £7.29 (assuming no medical issues and that you are not into skydiving!) and your hubby should get £100K cover for a smoker for £24.77 month. Do you need seperate policies? if not go for a joint policy or at least check to see if the overall cost is less and that it suits your requirments. That would be about £27.00 month. The figures depend on actual dates of birth occupations etc but that gives you some idea.

Hope this helps.

madmum33

Thanks so much, that's a big help! A joint policy seems a better option, I never thought of that. LOL @ skydiving - I wouldn't jump off a 3ft wall!

jasonking

If its to repay a debt like a mortgage then joint cover is fine, if not then I'd still look at individual policies if I were you, double the cover for only an extra £5pm!