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Original poster

Question about Life Insurance

13 replies

mummygow · 25/04/2006 15:59

I would like to take out life insurance (not to cover mortgage just payout) but can anyone tell me if there is a policy out there that if I pay in for 25 years and dont die they pay me back something IYKWIM or does it all just lie there until I die then pay ou to my family?

OP posts:
Original poster
mummygow · 25/04/2006 16:58

sorry I know people don't really like you to bump your own thread but I had fell off the page - so - BUMP

OP posts:
Original poster
mummygow · 25/04/2006 19:16

hoping for new blood after kids bedtime Grin

OP posts:
MrsStrutsHerStuff · 25/04/2006 19:21

hiya mummygow how's you? its kidstrack2, changed my name, we pay our life insurance through Cooperative, used to be scheme where insurance man knocked on door and collected the money monthly, now we do direct debit, we get money back in 15yrs i think!

Original poster
mummygow · 25/04/2006 19:44

ooooooohhhhhhhhhhh like the name - is this a new thing your trying, sounds very in control and authorative!!!!!!!!!!!

OP posts:
SoupDragon · 25/04/2006 20:22

You really need to go nd see an independent financial adviser. What your after is something like an endowment with life cover rather than a bog standard life policy.

SoupDragon · 25/04/2006 20:23
Original poster
mummygow · 25/04/2006 20:24

lol

OP posts:
teacakes · 26/04/2006 10:43

have you tried 'money expert' site he did the 'make me rich' programme and there are links in there for life assurance

milge · 26/04/2006 10:46

try the website lifesearch - policies like that are called whole of life policies and I am sure there are a few life companies still offering them, there are various permutations of them, so either go to see an IFA, or try lifesearch.

teacakes · 26/04/2006 10:48

sorry the site is called www.moneysavingexpert.com/

blueshoes · 26/04/2006 11:00

Mummygow, you would be looking at whole of life policies or endowment policies. I don't believe the returns are guaranteed and you get MUCH less insurance cover for the premium you put in (compared to the bog standard term life assurance policy).

If you want an investment, but an investment product. If you want pure insurance (payout on death), then buy a term life assurance policy. If you are prepared for lower investment return but coupled with some life cover, then you would be looking at whole of life/endowment policies. As the other posters have advised, speak to your financial advisor.

MrsStrutsHerStuff · 26/04/2006 20:09

hiya again mummygow, wasn't on for long last night, its gonna be my new name, if anyone will talk to me! lol being ignored maybe it is too in your face kinda thing, but i chose it cause it forms part of my new married name in 9 weeks, i'm gonna be a mrs instead of miss! yipeeee

SoupDragon · 26/04/2006 20:16

A whole of life policy will only pay out on death. Hence its name.

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