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Do you have life insurance?

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Stocky_Mike
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2011/03/18 15:36:15 (permalink)

Do you have life insurance?

Do you have life insurance, and if so, who with???
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    klein
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    Re:Do you have life insurance? 2011/03/18 15:47:48 (permalink)
    yes, it was a stipulation of my mortgage if i remember correctly. I *think* mine is with zurich.
    #2
    Osagi
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    Re:Do you have life insurance? 2011/03/18 15:56:26 (permalink)
    I haven't and am now unlikely to get any insurance due to my heart condition. Lesson for the wise, get a policy with a good insurer sorted now whilst your still healthy and stick with it!
     
    Osagi
    #3
    Furious D
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    Re:Do you have life insurance? 2011/03/18 16:08:28 (permalink)
    I'm insured with Legal and General, but through an agent of some sort. I'm covered for the next 20 years for a ridiculous amount of money but it only costs about 15 pounds a month. 
     
    My wife wasn't insured as her illness precluded her from getting insured and before our daughter was born it wasn't necessary., But as I am now discovering and as Osagi has said, get some insurance sorted while you are young and it is cheap.
    #4
    cu3ed
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    Re:Do you have life insurance? 2011/03/18 16:11:17 (permalink)
    Thru Legal & General tho it was organised via a broker.
     
    About £11 a month and they know I smoke..though was organised  in my early 20's
    #5
    Dick Dastardly
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    Re:Do you have life insurance? 2011/03/18 17:03:47 (permalink)
    having life and critical illness cover is essential for everyone no matter what age pretty much, when it comes to critical illness it doen't matter how old or how fit you are these illness affect people of all types. Life cover becomes important when you have financial goals as well, its not just there to cover debts like a mortgage.
     
    Think about it this way, say the goal is kids uni fees in the future, you may put money aside for a financial goal such as this, the life cover underpins the desire for this goal so you either save the money to pay for the kids uni (in this example) or the unfortunate happens but the money will still be their when they need it.

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    shane278
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    Re:Do you have life insurance? 2011/03/18 17:17:11 (permalink)
    Im 25, have not considered it yet.
     
    I will do so when i finish off my masters degree and get a proper job.
    #7
    BBC
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    Re:Do you have life insurance? 2011/03/18 17:21:14 (permalink)
    Nope, never even thought about it.
    #8
    Dick Dastardly
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    Re:Do you have life insurance? 2011/03/18 17:22:17 (permalink)
    still worth looking into mate,  collegue of mine who has never drunk fit and healthy went through cancer when she was just 24

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    shane278
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    Re:Do you have life insurance? 2011/03/18 17:24:18 (permalink)
    Dick Dastardly

    still worth looking into mate,  collegue of mine who has never drunk fit and healthy went through cancer when she was just 24

    While being at student, its not really feasible for now, whats the typical cost per year?
    #10
    Randy Watson
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    Re:Do you have life insurance? 2011/03/18 17:25:28 (permalink)
    Yes me and the missus so the morgage get paid off if one of us bites the dust.
     
    No luck yet

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    #11
    ALHADO
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    Re:Do you have life insurance? 2011/03/18 17:30:56 (permalink)
    Yes
    me and the mrs do in event of death to cover whats left of the mortgage and set the offsprings up for life.
     
    However, we will all be dead in 2012 anyway! So its irrelevant.
    #12
    Furious D
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    Re:Do you have life insurance? 2011/03/18 17:50:18 (permalink)
    shane278

    Dick Dastardly

    still worth looking into mate,  collegue of mine who has never drunk fit and healthy went through cancer when she was just 24

    While being at student, its not really feasible for now, whats the typical cost per year?

     
    If you are young you could probably get a reasonable amount of cover for 10 pounds a month.
     
    Although you don't need insurance until you have children or joint financial commitments; by not taking out insurance when you are healthy you run the risk that, between now and when you need it, you get some illness that precludes you from insurance in the future.
     
    To be fair, the chances are slim that anything will happen, but until it happened to me, I had always thought that there is no point in being insured before you need it.
     
    Fortunately, I did not rely on my wife for financial purposes and I have family around to help look after my daughter, but if my wife had been insured I could afford to only work part time and not have to rely on my mum for childcare. If, on the other hand, my wife had paid half the mortgage etc then I would be screwed, but then we would have taken out joint insurance when we bought the house.
    #13
    tubbyman
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    Re:Do you have life insurance? 2011/03/18 18:12:04 (permalink)
    I've got 3 different policies - the wife will be minted if I peg it. Better watch my back...
    #14
    meat 05
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    Re:Do you have life insurance? 2011/03/18 18:14:27 (permalink)
    Yes,I'm with natwest had it with the mortgage
    #15
    Rosc0PColtrane
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    Re:Do you have life insurance? 2011/03/18 18:15:11 (permalink)
    shane278

    Dick Dastardly

    still worth looking into mate,  collegue of mine who has never drunk fit and healthy went through cancer when she was just 24

    While being at student, its not really feasible for now, whats the typical cost per year?

     
    Depends largely on health, height/weight, duration and the sum asured (the amount you insure). Dick Dastardly talks sense. Though it could be as little as a tenner a month.
     
    Liability cover should be a basic minimum, with consideration to covering x number of years income for the family you leave behind. Or in the case of critical illness (assuming you survive), enough money to cover you until you recover, perhaps some extra for modifications to home/vehicles etc.
     
    I work from a commercial perspective, which has some similar risks, but some other substantial risks to boot; incorporating share purchase agreements, key persons, redundancy and employee benefits. Having seen cases where these policies have helped tremendously, even if just to extent a person's life for a couple months by paying for surgery not available on the NHS.
     
    Don't go for the cheapest, go for a reputable company which has a good claims history. You want the policy to pay out if you need it to.
    #16
    DC77
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    Re:Do you have life insurance? 2011/03/18 22:30:02 (permalink)
    5 x salary as part of works pension & £160 k for mortage with Norwich union - now where's my canoe!
    #17
    bmc
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    Re:Do you have life insurance? 2011/03/18 22:45:40 (permalink)
    Got 2 one for the mortgage and a personnel one for my and the girl

    £15 until I'm 69(I'm 32) first to go the other gets £100000.that ones with Scottish widows
    #18
    Varg
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    Re:Do you have life insurance? 2011/03/18 23:04:08 (permalink)
    I think so but don't pay much attention to these things.
    Think I have something tied to mortgage and also have a life insurance with my pension too.
     
    #19
    just t
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    Re:Do you have life insurance? 2011/03/19 09:10:05 (permalink)
    £11 for me and my missus for critical illness and/or death. Just to pay off remaining morgage sum.

    #20
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