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Help with life insurance
neilboy76
Posts: 1 Newbie
I'm struggling with life insurance, my mum died of motor neurone at 51 having suffered with the illness for over 5 yrs. If I do find a company to insure me they charge about 10 times more than the average quote you generally see on adverts. But usually I get told sorry we can't insure you! I'm under 40, don't smoke, don't drink excessively , reasonable health and like everyone else who takes out life insurance has a family and a mortgage to worry about. Just would like reasonable cover for a reasonable amount , just in case ( touch wood! ) the worst was to happen. Can anybody offer any help or advice please? Thank you for taking the time to read my post, any help is greatly appreciated
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Have you tried to do this direct, or have you sought advice from an IFA or protection specialist?
A professional would research providers and establish which would be the most appropriate for you and your needs. They would also talk to specialist providers if there was no "high street" option for you.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.0 -
Which option of mortgage life insurance is best when you are above 50?0
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Nothing changes when you hit fifty.crsamas2002 wrote: »Which option of mortgage life insurance is best when you are above 50?
You need cover which suits your needs and circumstances.
I suspect first post spam, but let's play it straight.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.0 -
Can you get whole life insurance which covers mortgage too?0
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As a mortgage is a fixed/reducing need for a fixed period of time, why would you want whole life cover?crsamas2002 wrote: »Can you get whole life insurance which covers mortgage too?
A decreasing (repayment) or level (interest-only) term assurance would be more suitable and cost-effective.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.0 -
Do not fall for marketing on the over 50s plans. These are low quality products aimed at those in poor health. Normal life assurance plans remain available into your 70s for any purpose you need them for (mortgage, family, term, whole of life etc).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.0
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What I meant is despite having the option of taking a reducing term mortgage or level term mortgage, is it still possible to take a whole life term mortgage?0
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crsamas2002 wrote: »What I meant is despite having the option of taking a reducing term mortgage or level term mortgage, is it still possible to take a whole life term mortgage?
There is no such thing as a whole of life term mortgage.
Term means for a fixed period. Whole of life is whole of life.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.0 -
crsamas2002 wrote: »What I meant is despite having the option of taking a reducing term mortgage or level term mortgage, is it still possible to take a whole life term mortgage?
You mean that you want a mortgage that you pay until you die, regardless of how long you live? :eek:All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.0
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