How much for life insurance per month? Couple in 30s

[kate288]

Hi,

We are looking at ways of cutting back, as is everyone at the moment. I have been looking at our outgoings and we pay £113 per month for life insurance with legal and general which seems expensive? We are in our early 30s with no pre existing medical conditions. I wondered what others are paying per month? We chose legal and general as it was recommend by our mortgage advisor but I'm not sure if we could get similar cover cheaper elsewhere.

Thanks

OP, check what benefits your employer or Union membership, if you have this, offers. You may find you already have some kind of Life Assurance.

Thanks everyone. I looked out our docs and this does include critical illness. Judging by my search on one of the comparison sites tonight , for the amount we need to cover in terms of mortgage ;decreasing term) , time period plus critical illness, the cheapest premium is how much we are paying. It would be much cheaper without CI cover but we would definitely want this as could not afford the mortgage on one wage. I think we are more expensive as we've taken out 2 single policies as we were told this is better than joint which would only pay out once if one of us died. Im still going to try and speak to someone about it too just incase we could cut the premium a bit.

Definitely not cancelling!

For 2 of us we pay £50. It covers the mortgage if one of us die, it also leaves a lump sum so the other can bring up our child. It goes up yearly with inflation.

Thing is it is meaningless to ask how much people are paying without knowing the level of cover, whether it is just life or critical illness, whether it is flat or decreasing etc. You presumably took out that cover that worked for you as a family.

Ours is high because it covers more than the mortgage. If one of us were to die we’d need a nanny to carry on working and then suddenly you’re looking at £££ extra in childcare. We wanted a lump sum to cover the possibility of private school etc as well.

£21 per month for life insurance and critical illness here!