FabSwingers.com forum: 50 plus plan

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

are they any good as a life insurance plan, or would i be better going for a fixed term plan.

asking as i need to re insure after my previous one matured so any advice accepted .

thanks in advance

By *histler21Man
over a year ago

Ipswich

A couple of points form the LV= website:

- Premiums payable until your 90th Birthday. You could pay more than paid out on death.

- If you stop paying, you won't get anything back.

- Your amount of cover is fixed when your plan starts, inflation will reduce the value.

Spend your money on yourself now and let others sort out what to do with you when you've popped your socks...

Investing the money in ISAs etc is almost worthless at the moment... The plan seems OK if you are expecting to die soon (then your funeral plan will outweight the contributions made).

My rule of thumb is: see how much a funeral will cost now and how much you can contribute. Work out the break-even period and contribute for that long into a savings account of some sort. If you want - assume inflation of 3% (RPI - BoE base rate).

By *umourCouple
over a year ago

Rushden

Biggest con there in insurance! You will pay more and you would be better putting your money in a savings account or an ISA! Unless you are intending popping your clogs after a year and before you have paid in the insured amount!

No wonder these companies make a fortune!

By *emmefataleWoman
over a year ago

dirtybigbadsgirlville

"Biggest con there in insurance! You will pay more and you would be better putting your money in a savings account or an ISA! Unless you are intending popping your clogs after a year and before you have paid in the insured amount!

No wonder these companies make a fortune!"
ahhhh but you get a free parker pen and some marks n sparks vouchers

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

No wonder these companies make a fortune!ahhhh but you get a free parker pen and some marks n sparks vouchers

thats it then ... sold