Hello,
I am so confused by life insurance! I really want to take it out after the birth of my son as it makes you think more about the future.
I have had a letter from royal London via bounty and the quote online is for level term. £10 a month for 30 years. (I'm 25 years old). The pay out would be £172,000. I'm not sure if this is a good quote? Is level term the best?
I also don't understand what happens if I outlive the life insurance? Or if I die (heaven forbid) in eg 5 years, how much will be paid out?
I would appreciate any help! Thank you.xxx