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Life insurance

(2 Posts)
Georgethechi14 Sun 16-Oct-16 21:51:26

I'm a single mum and want to take out a life insurance to leave my children something before they have flown the nest, and after.
It's confusing when I get quotes

Sunseed Sun 16-Oct-16 22:10:21

What exactly is it that you want to achieve? A term policy has no cash-in value but will pay out if you die during the specified term. A Whole of Life policy is more expensive but will last for as long as you keep paying the premiums, with no specified time limit.

It sounds as though you might be trying to do two separate things. A term policy to provide a lump sum to provide for your children if you die while they are still dependent on you, and then another policy to leave a legacy sum when you die whenever that may be. If so, then you'll find it simplest to do two separate quotes. Most online quoting systems don't do Whole of Life though because it includes an investment element and is subject to more rigorous regulation.

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