This page is no longer updated, and is the old forum. For new topics visit the New HOL forum.
Life insurance
Register | Edit Profile | Subscriptions | Forum Rules | Log In
 Kennyd163  new addington 20 Jan 16 12.09am |
  |
|---|---|
|
So I'm at that stage in my life where I was looking into getting some cover incase I snuff it early (married, mortgage and 4 kids). Went online and got a quote for £37 an month for the next 50 years and was looking at a nice payout for the family when the inevitable happens. Had the email back today saying that all the paperwork was done and just need to give a date for payments each month and that's that. Trouble is that it is now no longer £37, it has gone up to £70.90 a month. Wtf changed in the space of a month to warrant it doubling in cost? Anyone have life insurance with cheap payments?
|
|
 Alert a moderator to this post |
  |
Frickin Saweet  South Cronx 20 Jan 16 9.12am |
|
|---|---|
|
that seams like a lot. Me and the Mrs got dual cover that pays off the mortgage if one of us dies or becomes terminally ill. Ours is with Zurich and only around £26 a month. Wasn't anything I was bothered about when I was footloose and fancy free but would hate for the Mrs and my son to have to move out of our house if the worst happened.
|
|
| Alert a moderator to this post |
|
Kermit8  Hevon 20 Jan 16 9.16am |
|
|---|---|
|
£100k for me and the missus over 20 years is £35 a month if that helps at all.
Big chest and massive boobs |
|
| Alert a moderator to this post |
|
| Superfly The sun always shines in Catford 20 Jan 16 9.38am |
|
|---|---|
|
This has got Hoof written all over it ( for a fee
Lend me a Tenor 31 May to 3 June 2017 John McIntosh Arts Centre with Superfly in the chorus |
|
| Alert a moderator to this post |
|
)| jason7 croydon 20 Jan 16 10.30am |
|
|---|---|
|
Mine is with Aviva with no critical illness benefit and is £15.26 a month.
|
|
| Alert a moderator to this post |
|
| Kennyd163 new addington 20 Jan 16 11.40am |
|
|---|---|
|
Maybe I was just being greedy then. It was 50 years cover for £500,000. Waiting for a response as to why the sudden price hike. Would hate my family to be financially fcuked and have to sell up to get by.
|
|
| Alert a moderator to this post |
|
| Midlands Eagle 20 Jan 16 11.47am |
|
|---|---|
|
Quote Kennyd163 at 20 Jan 2016 11.40am
Maybe I was just being greedy then. It was 50 years cover for £500,000. That seems reasonable quote to me as you are covered until you are 79. Statistically there is a good chance that you will die before then (just ask Mrs Bowie, Mrs Frey and Mrs Rickman) and they will have to pay out £500,000 whereas they will have only received one tenth of that in premiums even if you don't die until the fiftieth year. If you reduce the term you should see the premiums drop dramatically
|
|
| Alert a moderator to this post |
|
| Hoof Hearted 20 Jan 16 12.36pm | |
|---|---|
|
Quote Superfly at 20 Jan 2016 9.38am
This has got Hoof written all over it ( for a fee Not an IFA any longer - retired! Suggest the OP gets in touch with a reputable IFA to review his cover and check the market to get the best deal. Hargreaves Lansdown are okay for this sort of stuff, or check on google for independents in your area. I'm sure there are another couple of guys on here that are financial advisers?
|
|
| Alert a moderator to this post |
|
| Holmesdale Nick South Croydon 20 Jan 16 1.01pm |
|
|---|---|
|
It is cheaper if you have "decreasing life" insurance. "Level term" cover will be dearer because the payout would not decrease from the amount you want to be covered for.
Fitter Fans Group 2. No. 17 |
|
| Alert a moderator to this post |
|
| Pikester Worthing 20 Jan 16 1.05pm |
|
|---|---|
|
Quote Midlands Eagle at 20 Jan 2016 11.47am
Quote Kennyd163 at 20 Jan 2016 11.40am
Maybe I was just being greedy then. It was 50 years cover for £500,000. That seems reasonable quote to me as you are covered until you are 79. Statistically there is a good chance that you will die before then (just ask Mrs Bowie, Mrs Frey and Mrs Rickman) and they will have to pay out £500,000 whereas they will have only received one tenth of that in premiums even if you don't die until the fiftieth year. If you reduce the term you should see the premiums drop dramatically
Yeah 79 is quite a gamble for the Insurance Co. I pay £41 a month for £100k of cover but that was loaded due to my dodgy ticker (and then reduced due to my devastatingly good looks) - and that ends when I'm 70. The younger and lovelier Mrs Pikester only pays £10 pm for £100k of cover........... every time I see her at the top of the stairs I start thinking what I'd do with the money.
You fed me, you bred me, I'll remember your name. |
|
| Alert a moderator to this post |
|
| DanH SW2 20 Jan 16 1.24pm |
|
|---|---|
|
Quote Pikester at 20 Jan 2016 1.05pm
Quote Midlands Eagle at 20 Jan 2016 11.47am
Quote Kennyd163 at 20 Jan 2016 11.40am
Maybe I was just being greedy then. It was 50 years cover for £500,000. That seems reasonable quote to me as you are covered until you are 79. Statistically there is a good chance that you will die before then (just ask Mrs Bowie, Mrs Frey and Mrs Rickman) and they will have to pay out £500,000 whereas they will have only received one tenth of that in premiums even if you don't die until the fiftieth year. If you reduce the term you should see the premiums drop dramatically
Yeah 79 is quite a gamble for the Insurance Co. I pay £41 a month for £100k of cover but that was loaded due to my dodgy ticker (and then reduced due to my devastatingly good looks) - and that ends when I'm 70. The younger and lovelier Mrs Pikester only pays £10 pm for £100k of cover........... every time I see her at the top of the stairs I start thinking what I'd do with the money.
|
|
| Alert a moderator to this post |
|
| Superfly The sun always shines in Catford 20 Jan 16 1.36pm |
|
|---|---|
|
Quote DanH at 20 Jan 2016 1.24pm
Quote Pikester at 20 Jan 2016 1.05pm
Quote Midlands Eagle at 20 Jan 2016 11.47am
Quote Kennyd163 at 20 Jan 2016 11.40am
Maybe I was just being greedy then. It was 50 years cover for £500,000. That seems reasonable quote to me as you are covered until you are 79. Statistically there is a good chance that you will die before then (just ask Mrs Bowie, Mrs Frey and Mrs Rickman) and they will have to pay out £500,000 whereas they will have only received one tenth of that in premiums even if you don't die until the fiftieth year. If you reduce the term you should see the premiums drop dramatically
Yeah 79 is quite a gamble for the Insurance Co. I pay £41 a month for £100k of cover but that was loaded due to my dodgy ticker (and then reduced due to my devastatingly good looks) - and that ends when I'm 70. The younger and lovelier Mrs Pikester only pays £10 pm for £100k of cover........... every time I see her at the top of the stairs I start thinking what I'd do with the money.
Lend me a Tenor 31 May to 3 June 2017 John McIntosh Arts Centre with Superfly in the chorus |
|
| Alert a moderator to this post |
|
Login / RegisterNew users
Registration is now on our new message board
Existing users
To login with your existing username you will need to convert your account over to the new message board.
Sponsors
All images and text on this site are copyright © 1999-2024 The Holmesdale Online, unless otherwise stated.
Web Design by Guntrisoft Ltd.