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Life Insurance
totallynew
Posts: 6 Forumite
I am looking for life insurance to cover myself and my husband. I am 56 yrs old and he is 54 yrs old. We have no mortgage and no children. Can anyone suggest a company that is not Sunlife?
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Comments
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Do you mean a funeral plan where no medical questions are asked or life insurance with medical history questions?
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First question is why do you need life insurance if you have no children and no mortgage.
Second question is do you have anything through work, usually via a pension scheme that will give you Xtimes your salary.
Most funeral plans that I've seen so far (happy to be corrected) can be out performed by simply putting money into a specific savings accounts.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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You may have been better asking this in the insurance section.totallynew said:I am looking for life insurance to cover myself and my husband. I am 56 yrs old and he is 54 yrs old. We have no mortgage and no children. Can anyone suggest a company that is not Sunlife?
Over 50s plans are an option of last resort. So, you shouldn't be using the type retailed by Sunlife and several others unless you have sufficient medical issues that mean you cannot get conventional 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 -
Try the Post Office.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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It depends if there is an insurance element and when the person dies surely? With the Coop, as a random example, you can elect to pay over 25 years but you get the full benefits if you die after year 1. For the £4k plan it's a £99 deposit and £25 a month so just over 12 months of life means £399 paid in and £4040 + inflation paid out. Doubt any savings account can outperform that.Brie said:Most funeral plans that I've seen so far (happy to be corrected) can be out performed by simply putting money into a specific savings accounts.
Depends what your needs are? Are you needing something short to cover the rest of your working life? Looking for cover for funerals or IHT?totallynew said:I am looking for life insurance to cover myself and my husband. I am 56 yrs old and he is 54 yrs old. We have no mortgage and no children. Can anyone suggest a company that is not Sunlife?0
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