Need to sort some life cover out.

 

Tips and Hints please people, what should I calculate, and look out for in the Ts n Cs !!

 

Not a clue what im doing !

 

Need to sort some life cover out.

 

Tips and Hints please people, what should I calculate, and look out for in the Ts n Cs !!

 

Not a clue what im doing !

 

 

It's easier to burn your house down than fake your own death.

we got ours all in with our house insurance,worked out a great deal with zurich.

if i peg it she gets the house,no debt and vice versa.

 

only problem is,the policy states quite clearly that if peg it through misadventure it null and void!

Prob is, I dont have a mortgage and wont be able to afford one for a while. BUT, I need to leave my wife n kids with something. Have no idea how to work this out.

We have a joint life policy. First to die or get a terminal illness gets the pot.

 

It's going to be her, just not worked out how yet!

 

Cas, if your wife ever reads this, it's a joke!

Can not for the LIFE of me think why i would want the wife well off if i pop me clogs.

one thing for sure is she wont be contributin to any policy.

I`m just goin to save a little on the side so i can have a great time if she pops first.

only problem is she`s 11 years younger than me

Can not for the LIFE of me think why i would want the wife well off if i pop me clogs.

one thing for sure is she wont be contributin to any policy.

I`m just goin to save a little on the side so i can have a great time if she pops first.

only problem is she`s 11 years younger than me

 

Any kids? I think it's the fatherly thing to do; you know, making sure they still have a roof over their heas if you curl your toes up.

a scouser with a conscience???

We have a joint life policy. First to die or get a terminal illness gets the pot.

 

It's going to be her, just not worked out how yet!

 

Cas, if your wife ever reads this, it's a joke!

Same as mine that bout ?19 a month for ?150k

Jeff mate of mine dose it trident to in box you 07946508732

Jeff mate of mine dose it trident to in box you 07946508732

 

 

that numbers goin up in the gay bogs in the market hahaha

Edited November 24, 201114 yr by anewman

?11 a month. Joint. Though I pay it all. Not sure why. Needs cancelling, just haven't got around to it.

You can either choose to leave your family with a lump sum, or you can take a policy out which will leave your family with a regular income instead (known as a FIB - a family income benefit policy).

 

If you're thinking about how much of a lump sum to cover yourself for, there's no right or wrong. Most people just want to leave enough to clear any debts & provide a few years wages to make sure everybody's looked after, & will take the policy out to keep you covered until your kids are say 21.

 

You should put the policy in a trust (easily done by filling in a short trust form & it doesn't cost anything). The trust allows you to nominate the beneficiaries. It's a legally binding document so even if you were in massive debt when you die, nobody other than the beneficiaries you've chosen can collect the money if & when you pop your clogs.

 

You can buy life cover anywhere on the web, but I'd use a good company like Zurich. Financially stable, not the absolute cheapest but there or thereabouts & if it comes to making a claim you want a co. Like them with a good claims payout record, not someone who haggles over the payout cos you said you were a non- smoker & they found out you had a cigar last Xmas or some other such shit.

 

It's one of the things my company does, so if you want pm me & I can do you some quotes in 5 minutes.

?11 a month. Joint. Though I pay it all. Not sure why. Needs cancelling, just haven't got around to it.

 

 

?11???

 

 

 

mines ?40

 

pays out 300k should i snuff it though

You can either choose to leave your family with a lump sum, or you can take a policy out which will leave your family with a regular income instead (known as a FIB - a family income benefit policy).

 

If you're thinking about how much of a lump sum to cover yourself for, there's no right or wrong. Most people just want to leave enough to clear any debts & provide a few years wages to make sure everybody's looked after, & will take the policy out to keep you covered until your kids are say 21.

 

You should put the policy in a trust (easily done by filling in a short trust form & it doesn't cost anything). The trust allows you to nominate the beneficiaries. It's a legally binding document so even if you were in massive debt when you die, nobody other than the beneficiaries you've chosen can collect the money if & when you pop your clogs.

 

You can buy life cover anywhere on the web, but I'd use a good company like Zurich. Financially stable, not the absolute cheapest but there or thereabouts & if it comes to making a claim you want a co. Like them with a good claims payout record, not someone who haggles over the payout cos you said you were a non- smoker & they found out you had a cigar last Xmas or some other such shit.

 

It's one of the things my company does, so if you want pm me & I can do you some quotes in 5 minutes.

 

Star.

 

I will be in touch mate.

 

Any kids? I think it's the fatherly thing to do; you know, making sure they still have a roof over their heas if you curl your toes up.

 

House is paid up - no debt and theres a bit left to pay for a funeral and a couple of weeks aldi big shop.

Girls have a trust treat at 18/21...by then theres nowt so sure they`ll have a bloke payin there way.

there mother will have to get a job.

but most likely find a wealthy chap to keep her in armarni.

I used to work in the insurance industry many moons ago.

 

The major issue with joint life policies is that they're ended when they pay out upon the first death/terminal illness.

This then leaves the other person struggling to get new insurance on account of their age.

 

I've a single policy for ?300k, making me about ?320k more valuable to the wife if I was dead.

 

I do all the cooking.

I used to work in the insurance industry many moons ago.

The major issue with joint life policies is that they're ended when they pay out upon the first death/terminal illness.

This then leaves the other person struggling to get new insurance on account of their age.

 

I've a single policy for ?300k, making me about ?320k more valuable to the wife if I was dead.

 

I do all the cooking.

 

Is that such a bad thing though ?? Shirley better to hedge your bets !!!

Why have I got the feeling this going to involve a canoe and a pile of clothes left on a North Wales beach

I used to work in the insurance industry many moons ago.

 

The major issue with joint life policies is that they're ended when they pay out upon the first death/terminal illness.

This then leaves the other person struggling to get new insurance on account of their age.

 

I've a single policy for ?300k, making me about ?320k more valuable to the wife if I was dead.

 

I do all the cooking.

 

yup 2 seperate policies here too.

 

cost fuck all. young fit and healthy (apparently)

 

hers is ?8 for 250k, mines about ?30 for ?500k

 

both pay monthly rather than lump sums

 

then weve an extra joint policy just to cover the mortgage.

 

basically, one of us pops off, t'other is left with mortgage free with healthy income.

 

both go, then the kids will be covered.

yup 2 seperate policies here too.

 

cost fuck all. young fit and healthy (apparently)

 

hers is ?8 for 250k, mines about ?30 for ?500k

 

both pay monthly rather than lump sums

 

then weve an extra joint policy just to cover the mortgage.

 

basically, one of us pops off, t'other is left with mortgage free with healthy income.

 

both go, then the kids will be covered.

 

pretty much as we have it.

I've never understood how they make their money from life insurance.

 

Other insurance, there is a risk your car might crash, your house get burgled but the number claiming is outweighed by those who don't.

 

But sure as eggs is eggs you're going to die, so they are always going to pay out.

 

Maybe I'm just numb.

I've never understood how they make their money from life insurance.

 

Other insurance, there is a risk your car might crash, your house get burgled but the number claiming is outweighed by those who don't.

 

But sure as eggs is eggs you're going to die, so they are always going to pay out.

 

Maybe I'm just numb.

 

Your premiums are invested elsewhere: so they profit from those short-term ans as long as they bring more new business than they lose, they stay afloat.

yup 2 seperate policies here too.

 

cost fuck all. young fit and healthy (apparently)

 

hers is ?8 for 250k, mines about ?30 for ?500k

 

both pay monthly rather than lump sums

 

then weve an extra joint policy just to cover the mortgage.

 

basically, one of us pops off, t'other is left with mortgage free with healthy income.

 

both go, then the kids will be covered.

 

 

Ahhh, 2 seperate one's. Sounds about right.

 

I will doing this in the next few weeks !

 

Cheers chaps

Your premiums are invested elsewhere: so they profit from those short-term ans as long as they bring more new business than they lose, they stay afloat.

 

Sounds like a big ponzi scheme...

 

Do they only pay out if you die before you are 60 or will they pay out whenever you go?

 

If so even if you died at 90 you would still be well up with some of those figures mentioned.

I've never understood how they make their money from life insurance.

 

Other insurance, there is a risk your car might crash, your house get burgled but the number claiming is outweighed by those who don't.

 

But sure as eggs is eggs you're going to die, so they are always going to pay out.

 

Maybe I'm just numb.

Very few people take out whole of life policies as they are expensive. Most do a level term for 10 -20 years where you have to die during the term to claim, if you look at the stats people are living longer that why critical illness cover is so expensinve.

 

Only a very small percentage of policies are paid out, thus big profits for the life companies