Life Insurance for 16 year old

Weighty1

jamesh316 wrote: »

No, you are wrong. If I end up paying £15 per month over 60 years, then it's a hell of a lot cheaper than £25 for 46 years.

Plus if something unexpected like a major health issue were to come along that would hike premiums, such as a heart condition, diabetes, cancer or a host of other potential pit falls, then I'd feel pretty damn stupid that I did not protect him when he was at the peak of health.

But if you take cover out now for your son you'll simply be guessing how much is needed. It might be that when he's bought and sold a couple of properties the cover you arrange now is woefully inadequate. What if he ends up as a real high-flier, earning £100,000+ per annum? Conversely, what if he never works and prefers to live life on the dole claiming minimal state benefits?

Whilst you are free to arrange what cover you want it's unlikely that any sort of adviser would want to assist you as it would be like playing some form of guessing game.