Reverse Life Insurance?

dothenumbersaddup

Hello, does anyone know of a ‘alternative life insurance’ which pays out if you are still alive in say 20 years time at 80, or even 30 years time at 90. The idea being that I could spend more money now, because I did not need to allow for post 90 expenses?

Trentenders

Sounds like you need a pension 

Peter999_2

It's known as an endowment

dunstonh

It's known as an endowment

An endowment was effectively a decreasing term assurance bundled with an investment.

Whilst endowments no longer exist in the mainstream, you could still build an equivalent but instead you would use the stocks and shares ISA wrapper or the pension wrapper for the investment side and use a decreasing term assurance for the life assurance side.

Top age would be limited in a decreasing term assurance but you could replace it with a non-investment linked whole of life assurance (available with monthly premiums or single premium).

But as Trentenders says higher up, using the pension wrapper in earlier life to pay for later life is by far the most cost effective option.

DullGreyGuy

dothenumbersaddup said:

Hello, does anyone know of a ‘alternative life insurance’ which pays out if you are still alive in say 20 years time at 80, or even 30 years time at 90. The idea being that I could spend more money now, because I did not need to allow for post 90 expenses?

that was a blend of two products, decreasing life and an investment. They heavily fell out of favour after many of the investments didnt achieve the level of return anticipated and so instead it was decided its better to buy the two components independently rather than be stuck with whichever investment vehicle the insurer chose