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Life Insurance

fullmoon_2
fullmoon_2 Posts: 50 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Insurance & life assurance
Male, 35, married, two children.

I got a life insurance (no critical illness cover) quote £18/month for £300000, 25 years.

Is the premium reasonable? Any advice?

Thanks.
«1

Comments

  • kingstreet
    kingstreet Posts: 39,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Smoker? Decreasing or level? Guaranteed or reviewable rates?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • warwicktiger
    warwicktiger Posts: 1,106 Forumite
    go compare !
  • OshayAway
    OshayAway Posts: 715 Forumite
    which provider?
  • kingstreet
    kingstreet Posts: 39,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Premium sounds about right for a guaranteed premium LTA for a non-smoker. Do NOT forget to write it in trust!
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • OshayAway
    OshayAway Posts: 715 Forumite
    Check to see if it has flexibility built in, known as guaranteed insurability. Some budget plans don't. If there is one that is just slightly more expensive but does have this feature, it could be considered better value.
  • dunstonh
    dunstonh Posts: 120,334 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    What level of critical illness cover is it? is it only a budget range of illnesses covered or a more comprehensive range?

    General insurability option is important. Frequently left off on budget plans.

    What type of life assurance is it?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • fullmoon_2
    fullmoon_2 Posts: 50 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    kingstreet wrote: »
    Smoker? Decreasing or level? Guaranteed or reviewable rates?

    Non smoker. Level. Guaranteed.
  • fullmoon_2
    fullmoon_2 Posts: 50 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    OshayAway wrote: »
    which provider?


    Aviva. Level term.
  • fullmoon_2
    fullmoon_2 Posts: 50 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    kingstreet wrote: »
    Premium sounds about right for a guaranteed premium LTA for a non-smoker. Do NOT forget to write it in trust!

    What is trust? And how do I do that? Advantage?
  • OshayAway
    OshayAway Posts: 715 Forumite
    fullmoon wrote: »
    Aviva. Level term.
    Aviva don't have flexibility options (GIO) as I referred to in my post. See how much the next cheapest is.

    Are you using a broker? They should be explaining this stuff to you.
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