Multiple life insurance Policys

dcfc67

With all the current offers floating around rather than take out 1 policy for an over 50 year old at around £20 a month would it make sense to take out 3-4 policies at £5 or £6 a month and take advantage of the new customer welcome gift which seems to be a £75 Argos, M&S or Amazon gift card/evoucher after you pay 3 months premiums.

My concern is what if one or more policy is underwritten by the same company.

Advice most welcome

[Deleted User]

I would find the most suitable policy for your needs, regardless of free gits and shopping vouchers.

dunstonh

over 50s plans are an option of last resort. That is typically why they need gimmicks to sell them.

Do you need an over 50s plan or would conventional life assurance be better value for money?

Aretnap

You can have as many life insurance policies a you like, including with the same company, so unless the terms of the specific offer say something like"one per customer" you have no worries there.

However I'd agree that (1) life insurance is a (hopefully) long term financial commitment and a one off shopping voucher for a few quid seems like a poor reason to choose a particular policy and (2) unless you are in poor health, over 50s plans tend to be poor value; if your health is reasonable (for for your age) you can probably get better cover for less money from a conventional policy.

dcfc67

Thanks for the advice. I will look at conventional life insurance policies.

only been looking as endowment matures soon so want some extra cover just incase the worst happens.