Should we take out life assurance/insurance?

Type_45 · 19 November 2019 at 2:31PM

My partner and I are in our early 40s. Non-smokers. Healthy. Not (much) overweight. Hardly ever drink. Trying for a baby, but accept it may not happen.

One of us has a small mortgage (£70K) on a £300k house. The other owns property outright. Savings of £50k and £100k respectively. One of us (sadly not me) in line for nice inheritence.

Do we need life assurance/insurance? (I have briefly read the difference between the two).

A quick search on price comparison sites leads me to believe it would be something like £80 a month to cover is both? But I'd need to confirm that as it was just a quick search.

:beer:

Weighty1 · 19 November 2019 at 2:44PM

What makes you think it would be so much? What amount of cover was that for and over what term?

How would the death of one of you affect the others standard of living?

What if you were ill long-term and couldn't work for years?

csgohan4 · 19 November 2019 at 3:03PM

Get a broker to get a whole of market approach and individualise it to you. Price comparison sites are just that, generalised and can be poor value.

MSE also does an article on Life insurance, have a look at it, I got my broker from there

Should we take out life assurance/insurance?

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