Life insurance one please

[Hushmental]

Do you all have insurance? If yes how much are you paying monthly and if you don’t have what’s the reason for that. I m 31 and was contemplating getting one for 6 months now, but with soaring bills I cannot bring myself to pay 20 to 30 quid monthly. My relative who is a LI agent is behind my life telling that I m making a big mistake by not having a life insurance and will definitely regret 🙄

DH and I both late forties. We pay approx £10 each per month for the two of us for £200k cover. Do you have a joint mortgage and/or children? If you do then you really should have it.

I have one that I took out when I was much younger that costs me about £30 a month. I wanted to get more when I increased my mortgage but it was much too expensive because I now have a health condition. It is false economy to put it off - do it now while you are young and make sure it is as long a term as possible (indefinite - as long as you keep paying) for the same amount. That way you will still have the same life assurance when you are in your 60s but still be paying the same amount you were in your 30s.

Thanks. Will get a quote soon

I took a life and critical illness policy when I took out my first mortgage in my early 20's, I took it on a flat notional (i.e. it doesn't decrease over the life), as I was advised the cost would only go up as I get older. Costs me about £15 a month. DH and I also have a joint life & critical illness policy on our current mortgage for a much bigger notional - that one is expensive at c.£150 pm. We both also have LI cover through work, which we don't have to pay for. It's a lot of money, but reassuring to know the mortgage would be paid off if we died or became too ill to work.

I'm worth way more dead than I am alive. I've got a couple of policies and critical illness cover. I pay something like £11.50, £8 and £5 for critical illness. Obviously I could drop one but we can afford it for now.

I'm in my 40's, just under 14st ex-smoker with high blood pressure. Not a bad price really and as much as I hope it's not needed anytime soon, I feel better knowing that I could leave a lot of money after my death seeing that I bring little in now as a SAHM working part time.

I'm early 40's and pay £7 per month for a fixed payout of £100,000 on death, this is enough to wipe off the mortgage, pay for my funeral and 1 years salary.

I do have death in service benefit too, but the life insurance should pay out quicker.

I have the same policy in place for dh (when we were both lower earners), now he is high earner BUT has a brain tumour, he now won't be able to get life insurance, and we will need it as I'll be supporting 2 kids.

Life insurance is definitely one to get while your young and there's nothing wrong with you (yet).