Life Insurance for over 60s

eddeim1

Hi both myself and my wife need to get some life insurance mainly for funeral costs but also to leave a little bit of cash.

I am 65 and she is 64 we have insurance with our jobs and also her private pension but that will end in a couple of years so we need to be looking now and we just want to know if anyone can recommend a good provider.

davidmcn

Why do you "need" to get insurance for this? If you don't have sufficient savings, it would seem better to put any spare money into savings rather than pay it to an insurer - you are after all insuring against an event which is rather more inevitable now than when you were younger.

dunstonh

I am 65 and she is 64 we have insurance with our jobs and also her private pension but that will end in a couple of years so we need to be looking now and we just want to know if anyone can recommend a good provider.

You say you have pensions.   Will you be buying an annuity or going into drawdown or will it be a final salary pension income?

If drawdown, then the pension funds will be available.  You may not need life assurance.

As you are looking for a whole of life assurance on that need, how is your health?  

Old_Lifer

Do you actually need life cover ?     At your  ages it will not be cheap.

csgohan4

far cheaper for self funding funeral costs, save up a set amount every month to the funeral amount and job done, same as you would with a boiler. Far cheaper and efficient than getting ripped off and only given a parker pen to show for it. 

At your age, the premiums will be astronomical

eddeim1

Thanks everyone for your advice I will have to rethink what we are going to do