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Life insurance
MrsPorridge
Posts: 2,944 Forumite
DH is 61 and has started worrying about life insurance for him - so if he goes first I have something to fall back onto. Is it a good idea - or would it just be better to do one of those funeral plans.
We are in the lucky position of having no mortgage and we both work part time earning decent salaries
We are in the lucky position of having no mortgage and we both work part time earning decent salaries
Debt free and Keeping on Track
0
Comments
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life assurance at that age is very financially prohibitive, there are over 50's plans but again expensive.
Life assurance is generally used to cover unpaid mortgage for the main bread winners.
You could try whole life assurance which will pay on death, but these are also expensive at this age and more so if there are medical issues as well"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
For most people, the need for life assurance reduces as they get closer to retirement. Their pension funds are generally higher. The children have grown up. The mortgage repaid. A little in the bank.
Have you worked out whether you actually need life assurance?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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