best cover ?

diceydeb

Help Im confused as to what cover is best... I am 49 is it better to open a life insurance policy before 50 to get a better deal as I have no medical problems and don't smoke..or wait for the over 50 ones. All my kids are grown up and we don't have a mortgage or any heavy debts to plan for. The only thing is my OH has poor health and if I went he would need some cash to cope as he not able to work and to cover my funeral etc. We cant really afford to save much on a regular basis so a low cost plan is needed to cover the inevitables.

RickyC_IFSWP

Over 50s plans are good for those in poor health because no underwriting is needed so your OH should actually consider taking one out for himself. Given that you are in good health, you'll be disadvantaged by buying them.

You can look at life assurance policies for set terms, but they will only payout if death occurred during the term. Or you could consider whole of life policies which (as the name suggests) will cover you for the whole of your life. Alternatively, if you can afford it, look at pre-paid funeral plans.

diceydeb

Thanks for the advice I think a pre payed plan would be good if I can make smaller payments till its paid up . I will look into it.