FabSwingers.com forum: Life insurance

By *ungle VIP 1 OP Man
over a year ago

colchester

After my freind died a month or so ago i witnessed the stuggles his family had as he didnt have any life insurance. This is something ive for sum reason put off and need to get sorted. Dont want people having to worry once im gone, does anyone have any good suggestions on good companys to use and not get stitched up with price

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By *offiaCoolWoman
over a year ago

Kidsgrove

I personally don't, but I'll bump this to see if anyone can help with suggestions.

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By *ungle VIP 1 OP Man
over a year ago

colchester

Much appreciated thankyou. Getting older and dont want to leave family with a huge bill when im gone thats not what people need

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By *r OreoMan
over a year ago

Croydon

I use Vitality life insurance which isn't bad, plus you get discounted gym entry, free coffee from Nero depending on activity etc.

Also check out moneysupermarket as I think they have a life insurance comparison tool on there too, and depending on your work etc might also be part of your benefits package.

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By (user no longer on site)
over a year ago

[Removed by poster at 22/09/22 09:44:30]

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By *ungle VIP 1 OP Man
over a year ago

colchester

"I use Vitality life insurance which isn't bad, plus you get discounted gym entry, free coffee from Nero depending on activity etc.

Also check out moneysupermarket as I think they have a life insurance comparison tool on there too, and depending on your work etc might also be part of your benefits package."
does that affect my credit score? And thanks very helpful

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By *lynJMan
over a year ago

Morden

"After my freind died a month or so ago i witnessed the stuggles his family had as he didnt have any life insurance. This is something ive for sum reason put off and need to get sorted. Dont want people having to worry once im gone, does anyone have any good suggestions on good companys to use and not get stitched up with price "

Some employers include life assurance as part of the employment package. Does yours do that?

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By *lik and PaulCouple
over a year ago

cahoots

By all means get some life insurance, shouldn't cost too much at your age but also contributing to or starting a pension pot is a good idea as it'll help in your later years and when you die anything left in the pot goes to your named beneficiaries and bypasses the will/estate for tax purposes.

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By (user no longer on site)
over a year ago

Go with an advisor

Most will be free and they'll be able to find the best one for your circumstances

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By (user no longer on site)
over a year ago

Try Money Saving Expert, good impartial advice and most of the ground work has already been done for you, just leaves it to personal choice then...

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By *r OreoMan
over a year ago

Croydon

Nope... A life insurance quote won't affect your credit score or show up on a search history.

Download credit karma if you need info on your credit score, and it's free.

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By *ustamanMan
over a year ago

weymouth

Be definite about the amount you want/need and term. I took out 50k coverage to sort any business/personal debts for a fixed term (until I turn 70) by which time I hope to of stopped working etc. Took this out in my mid 50's and cost me £17(and loose change) a month. Recently had new guy try to fear sell me to a new policy taking me to 80 but with reduced benefits and a greater premium - nice try not washing.

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By *ora the explorerWoman
over a year ago

Paradise, Herts

Mines with Zurich. Think I pay £46 a month and it pays out £400k. Been paying it a while though. I didn’t look how old you were. But sooner you do it the better.

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By (user no longer on site)
over a year ago

Not financial advice...

But if I were in your shoes I'd need to be thinking about what the payout would be covering, and how much is needed. Eg is it to pay off the house and mean my OH would have enough not not work until the kids are 18... How much would that need to be if I died tomorrow. Or a year. Or ten.

That's not an easy sum, so I'd suggest advice if you arent confident.

When picking a company I'd look at not just price but reputation especially from anyone who has gone thru the claims process. After all any claims will be happening when yr OH is massively vulnerable and possibly struggling. Is giving her a better experience worth a few extra pennies. Imo, yes. Again, an advisor would have real understanding here.

And finally, make sure you have a will.

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By *inaTitzTV/TS
over a year ago

Titz Towers, North Notts

I'm with the Co Op/Royal London and they seem fine. I've not had to claim it yet, though, but if I have any problems, I'll let you know

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By (user no longer on site)
over a year ago

I have insurance that pays off the house when i die and seperate one that gives out a lump sum also

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By (user no longer on site)
over a year ago

"I use Vitality life insurance which isn't bad, plus you get discounted gym entry, free coffee from Nero depending on activity etc.

Also check out moneysupermarket as I think they have a life insurance comparison tool on there too, and depending on your work etc might also be part of your benefits package. does that affect my credit score? And thanks very helpful

Looking is fine, it will be a soft search, only a hard search will show on your credit report and (potentially) affect your score. You'll only get hard searched when you apply following getting a quote/estimate etc, not for doing that.

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By *idnight RamblerMan
over a year ago

Pershore

"Go with an advisor

Most will be free and they'll be able to find the best one for your circumstances

Go with an advisor by all means, but I don't think they are free (what is?) and probably not independent either. The best method is to go on a money website and study policy comparisons.

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By *lex46TV/TS
over a year ago

Near Wells

I don't have any life insurance. Life on my own, don't have many debts and the only family I have is my sister, her husband and son.

I'm sure they could cope with my finances.

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By (user no longer on site)
over a year ago

"Go with an advisor

Most will be free and they'll be able to find the best one for your circumstances

Go with an advisor by all means, but I don't think they are free (what is?) and probably not independent either. The best method is to go on a money website and study policy comparisons."

IFAs are. Although they may have their favourite provider. And even those who arent independent aren't always constrained or conflicted. It may just be their company have filtered out the ones they don't want to work with.

Comparison websitea also get commission. And that may mean they do clever tricks to push up certain providers.

As I said above, it's more than just picking the cheapest. Step one is knowing how much cover you need ...

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By *ily WhiteWoman
over a year ago

I have life insurance that covers my mortgage, I think it's with Zurich off of the top of my head. My employer also provides a death in service benefit which pays out 3.5 times my annual salary in a lump sum, which will more than cover funeral expenses and any other outstanding debts. I have no dependants so don't need it to provide an income for anyone.

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By *ustamanMan
over a year ago

weymouth

I keep telling my daughter to donate me to medical whatever then the NHS truly is cradle to grave as bevin intended

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By (user no longer on site)
over a year ago

I used a broker to get mine. £200k for £15 and change.

The broker gets direct payment from the insurers, I can't remember who it's with however.

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By *nhinderedWoman
over a year ago

Reading

Just shop around and get quotes to compare. My husband died suddenly almost 4 years ago and we didn’t have life insurance so I got it a week later just so my daughter doesn’t struggle financially if something were to happen to me. Money obviously isn’t much consolation when you’ve lost someone so important but it certainly would have made life ALOT easier than being widowed with no money

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By *ungle VIP 1 OP Man
over a year ago

colchester

Thankyou everyone very helpful advice and its much appreciated

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By (user no longer on site)
over a year ago

If anyone needs help with insurance, I have a very good mate who can help out. Feel free to get in touch if you like

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By (user no longer on site)
over a year ago

"Just shop around and get quotes to compare. My husband died suddenly almost 4 years ago and we didn’t have life insurance so I got it a week later just so my daughter doesn’t struggle financially if something were to happen to me. Money obviously isn’t much consolation when you’ve lost someone so important but it certainly would have made life ALOT easier than being widowed with no money "

Same here, my husband was not insured when he died.

One of the first things I did was take out life insurance to cover the mortgage and any "expenses"

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By *rs mischiefWoman
over a year ago

Manchester

I use my cousin who is a financial advisor. Ask around your friends, they might know some local independents x

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By *den-Valley-coupleCouple
over a year ago

Cumbria

You really have to speak with a financial advisor or possibly 3 or 4 to find the best prophecy for yourself.

Try and look for an independent advisor.

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By *UGGYBEAR2015Man
over a year ago

BRIDPORT

Not having to pay for life insurance means I have more money available to keep my pension topped up.

One of the benefits of not having any dependants

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By (user no longer on site)
over a year ago

As someone who works for a well known health insurer who also does other insurance I know some of our life insurance policies go for as little as £8 per month, they were offering a free fitbit recently, also offer a discount on a gym membership

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