Level Term Assurance Cost Cutting/MoneySavingExpert.com Discussion

bigbloke45

Martin mentions couples taking out a joint life term assurance which would pay out if either died first within the term. I think it's much better to each effect a term assurance on their own life. The only difference being the policy fee on each assurance. However, if both were to die together e.g a car accident, then DOUBLE the life cover would be paid for just the cost of the policy fee which is minimal compared to the total premium.

Also, I think that term assurances should always be arranged on the basis of "A on the life of B". What this means is that each partner is the owner of the life policy on the other; the "life assured" and pays the premium accordingly. This means that, as long as the policy premiums are paid, the sum assured will be paid out on the death of the life assured. The benefit being that, if a relationship ends, there is still a policy in force because the life assured can't lapse the policy willy nilly as the other partner is the owner.

Think about it, if you have a dependant or debts to be covered etc....

canny-lass_4

Hello can anyone tell me, if i were to take out a level term assurance say for 20 years and I still live what happens to the money i have paid in, do i lose it?

dunstonh

Hello can anyone tell me, if i were to take out a level term assurance say for 20 years and I still live what happens to the money i have paid in, do i lose it?

Yes.

Level Term assurance is the same as car insurance, house insurance, pet insurance etc. You only get paid in the event of a claim. Thats why Level Term assurance is so cheap.

eilz

Can you get Level Term Insurance with Accidental Injury or Critical Ilness together?

mercman_3

Been reading the threads with interest

We are just completeing a remortgage with Nationwide on a 10yr fixed £165k over 19 yrs.

We naturally now want to take a look at all our current insurances and see if we are getting the best deals

We naturally want/ need the following

Building & contents ins (£60k contents with a single item over £2500)
Joint life assurance with critical illness (m 36 f 33 both non smokers)

We have also recently had a new addition to the family (6 wks old), what if anything do we need to consider looking to the future for her?

Any help advice is always welcome in this mine field


Cheers

Pete

ifperhapsmaybe

Could anyone tell me if there is a level term life insurance which doesn't involve previous medical history or medical questions, as I've just been rejected by L&G?
I'm male, 50, non smoker looking for 60,000 over 15 years
Many thanks

dunstonh

with 60k, the answer would be no.

Would you want to risk £60k of your money on someone you know nothing about?

Beck_2-2

DUPLICATION

Martin’s asked me to post this in these circumstances: Sorry, your post had to be deleted as it has been posted elsewhere and that’s one of the site’s rules (please see this rule). If you have any questions about this policy please email [email="%20abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/email]

dunstonh

reported as spam. Self advertising (prentending to be a satisfied client) is the sign of a desperate company and I am disapointed that Martin approves/suggests using this company when the sink to such a low way to attract business. It is also in breach of FSA rules. Would you want to transact your business with a company like this?

dunstonh

21 of your 23 posts made link to 3 companies which are all part of the same group.