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Life insurance

dnwjlw
dnwjlw Posts: 1 Newbie
in Insurance & life assurance
Hi. My mum has just passed away and among the few little bits she had sorted out she seems to have a life insurance policy which seems bizarre and i just wondered if anyone had any opinions etc.. Basically, she seems to have started it in 1999 and paid £10 a month since. The thing that's weird, is that it is worth no more now than when she started and the figure seems bizarre. £1,954.31. Any suggestions how this has happened, seems a real cheat in some respects to be honest. Thank you

Comments

  • ACG
    ACG Posts: 24,746 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    She paid £10 a month for a level benefit of £1954.
    Not sure whats bizarre about it?
    She chose to pay £10 for that benefit...im guessing thats how its happened?
    I am a Mortgage Adviser
    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.
  • rs65
    rs65 Posts: 5,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Sorry for your loss.

    If she had died years ago then it would have seemed better value. The good news is she didn't.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    dnwjlw wrote: »
    Hi. My mum has just passed away and among the few little bits she had sorted out she seems to have a life insurance policy which seems bizarre and i just wondered if anyone had any opinions etc.. Basically, she seems to have started it in 1999 and paid £10 a month since. The thing that's weird, is that it is worth no more now than when she started and the figure seems bizarre. £1,954.31. Any suggestions how this has happened
    Minimum premium policy.
    seems a real cheat in some respects to be honest. Thank you
    Well it's paid out more than she paid in.
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    She has had the life cover for all those years, that has to be paid for.

    Luckily you didnt have to claim on it a long time ago.

    I'm sorry you have lost your mum,
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
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