Life Insurance Discussion

dunstonh

Is it normal with Mortgage Protection Life Insurance to have a decreasing term but with increasing premiums?

Mortgage protection life insurance isnt a generic name so it could be a few products. What you describe sounds like yearly renewable decreasing term assurance (generic name). In which case, it is normal for those to be priced annually. A decreasing term assurance with level & guarnateed premiums is the one that stays level for the whole term.

It is possible that they dont have the latter in Spain.

dfw666_2

HI All
Are there any companies out there that do insurance for "life" and not just a fixed term. I am not psychic and don't know when I am going to trot off this mortal coil, but basically I want to get cover to pay for my funeral etc. so I don't leave any financial worries to my other half and I dont want get thrown in a ditch either!!

dfw666_2

HI All
Are there any companies out there that do insurance for "life" and not just a fixed term. I am not psychic and don't know when I am going to trot off this mortal coil, but basically I want to get cover to pay for my funeral etc. so I don't leave any financial worries to my other half and I dont want to get thrown in a ditch either!!

dunstonh

re there any companies out there that do insurance for "life" and not just a fixed term.

Most of the major insurers. The plans are called whole of life assurance.

bitemarx

If I take out a level term life assurance policy, would I get any money back at the end of the term if Im still alive then?
Or are all my premium payments lost to the insurance company? ...as in a car insurance policy?

Regards
M :eek:

roguebrogue

bitemarx wrote: »

If I take out a level term life assurance policy, would I get any money back at the end of the term if Im still alive then?
Or are all my premium payments lost to the insurance company? ...as in a car insurance policy?

Regards
M :eek:

No you wouldn't get the money back.

fattyrae1

Hi. We have 3 kids and i would like to take out LI on my OH! (I smoke so i won't bother taking it out for me). My OH is an ex-alcoholic and heart disease runs in his family. He has had a couple of check ups in recent years but more as precautionary measure and not for a present condition. Do i need to mention all of this - if he dies of a heart attack (God forbid) will they refuse because of his family history?

dunstonh

My OH is an ex-alcoholic and heart disease runs in his family. He has had a couple of check ups in recent years but more as precautionary measure and not for a present condition. Do i need to mention all of this - if he dies of a heart attack (God forbid) will they refuse because of his family history?

The questions asked will expect all of that to be mentioned. It will almost certainly see an increase in his premiums, possible restrictions added and even a refusal to cover with some.

brianrhill

Not sure why you'd decide NOT to take out life insurance because you smoke. Surely you're at a higher risk of death or illness and therefore it's more important for you to have insurance than a non-smoker? Granted, the premiums are higher, but that's because you're more likely to die sooner (morbid I know)

Brian

pigeonpie

Unless I'm mistaken, I can't see anything on the site guide to life insurance on whole of life insurance. Googling it throws up a bewildering array of brokers and some inapplicable results (level term). Does anyone know of any reputable broker or co offering this assurance?
Also: could we take out level term (interest only mortgage 20 years) and then renew it if and when the mortgage comes to term? We would like protection for longer than the mortgage as for various good reasons we have no pension to rely on either should one of us die.