How much do you pay roughly for life insurance?

[Homophone]

Have a 2 yr old and a 2 month old. Want life insurance to cover cost of mortgage (200k) and help with childcare (a nanny perhaps) if either of us die. Anyone got similar and how much does it cost you roughly?

Depends on health. They ask some pita questions.

I have an old policy taken out when healthy £7 a month(100k), then my more recent one is £13 a month (100k). Dh has £33 for £150k.

With regards to Nanny costs it might be worth looking at a Family Income Benefit policy. They are not that expensive (£10 ish per month). Life policies can be anything between £7 - £150. A good advisor will always tailor it to your budget.

Lump sum
Term (how long)
Lump sum (200k)
Date of birth
Smoker or non?

FIB
Term (how long)
Value (nanny per month?)
Date of birth
Smoker or non?

and I'll tell you! Sorry pressed send due to wine consumption

We have a 5 and almost 2 yo.

Took out £120k policy when I was 27, level cover for £7 a month.

Dh took a policy out last year at 31 for £250k level cover for £14 a month. We pay extra for critical illness cover for the kids, which pays out 10% if they were to fall ill with something like cancer. This happened to a friend so we were keen to make sure we'd be able to take time off if anything should happen to them.

They are both life and critical illness policies.

Ours is £16 a month for £150,000. (With legal and general)

Non smokers, but the price went up when I told them my mum died of cancer.

This reminds me I need to increase ours as we have moved to another house.

Just (last week) taken out £150k level term insurance for 25 years.

Price was £10.85 per month with Beagle.

Female aged 40 non smoker, no health issues except Father had a heart attack at 56.

I have a life and critical illness policy - £14.95 a month for £150k.

Hubby has massive civil service death in service cover through work

We also have level term assurance for the mortgage - £60k cover for £9.95 a month - joint - so payout on first death.... also has critical illness cover in there.

I pay £8 a month for £300,000 death and terminal illness.

Wow, thank you - have had our cover for years now and I'm pretty sure it was the cheapest available at the time. Have just done a quote as your prices are really low and can reduce our monthly premium by more than 50%!!!

Thanks for this thread OP. My DH and I are paying (together) £49 pcm for £400K level term insurance. This would cover m'gage and a big lump sum allowing one of us to live for 2 or 3 years without work if the other one died. No critical illness cover for me though (DH has cover through work).

After reading the above, I think we may be paying too much and I think I'm going to shop around.

MomaP would you mind telling me who your cover's with and how old you are?

£15.18 per month for £240K life insurance (had policy forever)

About £20 per month for insurance linked to the mortgage and including critical illness but with exclusions on part of the policy (the part that was added when I moved and increased my mortgage recently)

life cover is getting cheaper all the time. If you've no health problems and it is life cover only (not CIC) then it's worth revisiting every 5 years or so.

Life cover is easy to administer - you're dead or you ain't. Simple.

Critical illness is a different thing and the small print counts. I wouldn't suggest shopping around on price for CIC, it's the T&C's that count here.

Culturemulcher

Im with Abacas, and I am 22 years old.

It is really worth getting independent advice on any insurance affecting your life, family or income.

Like Notmadeofrib says, it is not just about the cost it is also about the cover itself.

Even with life assurance there are some policies that won't cover you within the last 12 months for terminal illness cover and that is not something that you would necessarily know or think to ask about.

I cannot stress how important it is to get INDEPENDENT advice.

Thanks momap. That explains your £8, you spring chicken, you. I think at 40+ my premium may be slightly higher