Best life insurance policy

Sweetteamum1

What is a good life insurance policy to go with.

We've been quoted £23 per month on the sum of £180k. Are there any particular q's I need to be asking.

Quentin

There is advice on best buys in this MSE article:


http://www.moneysavingexpert.com/insurance/cheap-life-insurance

InsideInsurance

Sweetteamum1 wrote: »

What is a good life insurance policy to go with.

On that you never claim on

Sweetteamum1 wrote: »

We've been quoted £23 per month on the sum of £180k. Are there any particular q's I need to be asking

What particular concerns/ desires do you have? Most people talk about ability to change it, if its index linked or not, if its in trust or not, if its fixed or subject to periodic review, if there is terminal illness early pay out.

Really depends on your circumstances.

Sweetteamum

Quentin wrote: »

There is advice on best buys in this MSE article:


http://www.moneysavingexpert.com/insurance/cheap-life-insurance

Thank you. I'll have a good luck.

Sweetteamum

InsideInsurance wrote: »

On that you never claim on



What particular concerns/ desires do you have? Most people talk about ability to change it, if its index linked or not, if its in trust or not, if its fixed or subject to periodic review, if there is terminal illness early pay out.

Really depends on your circumstances.

We would like to make sure it clears the mortgage and have money leftover to cover debts, should anything happens in the next 20 years.

We've just had another 15 year one end and are looking to significantly increase the amount.

There will be no review, it will stay at the same amount for the full term.

Yes, there's a terminal illness payout also.

It has increased due to our health issues tbh. It's not been quoted at £39.41.

dunstonh

We would like to make sure it clears the mortgage and have money leftover to cover debts, should anything happens in the next 20 years.

This suggests there are multiple needs. Chances are there are multiple timescales too (do the mortgage and other needs all finish in 20 years?)

Sweetteamum

dunstonh wrote: »

This suggests there are multiple needs. Chances are there are multiple timescales too (do the mortgage and other needs all finish in 20 years?)

The main one is actually the mortgage. And yes, it's got 20 years to run yet.

dunstonh

Sweetteamum wrote: »

The main one is actually the mortgage. And yes, it's got 20 years to run yet.

What about the other needs? (you dont say what they are but typically it could be spouse lost income, children etc)

Sweetteamum

dunstonh wrote: »

What about the other needs? (you dont say what they are but typically it could be spouse lost income, children etc)

Sorry, I'm not sure what you mean by other needs. DH has got 2 loans for vehicles and an mbna card. However, these finish much earlier than the mortgage.