Need Advice re Life Cover Purchasing

Rosylee

I am currently pay $18 per month for life cover but the payout is only $15,000. This is not nearly enough to cover my debt in the event of my death. The mortgage has its own cover, but I need to be able to ensure that my OH is not saddled with my debt and has a bit extra to live on. My debt is around $50,000. I am trying to reduce that but it is a slog. I just don't see why I am paying so much for so little.

Can you advise me which companies I can approach. I know that Tesco and Asda et al do offer life cover. What I have noticed is that they ask you to specify a term. How many years should I choose ? 30, 40. I would prefer cover until I die.

Any advice?

ACG

Im presuming your not in the US as you say tesco and asda...not walmart.

Where did you purchase the cover from? Was it a bank? If it was a bank you probably can get it cheaper.
You should really see a mortgage or financial advisor. Nobody on here can really advise you on what to do.

Also i would avoid buying from supermarkets, their premiums tend to be loaded (more expensive) and the cover is sometimes stripped down to the basics.