Life insurance

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Pikester Worthing 20 Jan 16 2.07pm
Quote Superfly at 20 Jan 2016 1.36pm Quote DanH at 20 Jan 2016 1.24pm Quote Pikester at 20 Jan 2016 1.05pm Quote Midlands Eagle at 20 Jan 2016 11.47am Quote Kennyd163 at 20 Jan 2016 11.40am Maybe I was just being greedy then. It was 50 years cover for Ł500,000. That seems reasonable quote to me as you are covered until you are 79. Statistically there is a good chance that you will die before then (just ask Mrs Bowie, Mrs Frey and Mrs Rickman) and they will have to pay out Ł500,000 whereas they will have only received one tenth of that in premiums even if you don't die until the fiftieth year. If you reduce the term you should see the premiums drop dramatically Edited by Midlands Eagle (20 Jan 2016 11.47am) Yeah 79 is quite a gamble for the Insurance Co. I pay Ł41 a month for Ł100k of cover but that was loaded due to my dodgy ticker (and then reduced due to my devastatingly good looks) - and that ends when I'm 70. The younger and lovelier Mrs Pikester only pays Ł10 pm for Ł100k of cover........... every time I see her at the top of the stairs I start thinking what I'd do with the money. Build your own w*nking den in the garden? Or upgrade the existing one? With her out the way I'd be able to use the house. That's it.... my mind's made up! You fed me, you bred me, I'll remember your name.
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Pikester

Worthing 20 Jan 16 2.07pm

Quote Superfly at 20 Jan 2016 1.36pm

Quote DanH at 20 Jan 2016 1.24pm

Quote Pikester at 20 Jan 2016 1.05pm

Quote Midlands Eagle at 20 Jan 2016 11.47am

Quote Kennyd163 at 20 Jan 2016 11.40am

Maybe I was just being greedy then. It was 50 years cover for Ł500,000.

That seems reasonable quote to me as you are covered until you are 79. Statistically there is a good chance that you will die before then (just ask Mrs Bowie, Mrs Frey and Mrs Rickman) and they will have to pay out Ł500,000 whereas they will have only received one tenth of that in premiums even if you don't die until the fiftieth year.

If you reduce the term you should see the premiums drop dramatically

Edited by Midlands Eagle (20 Jan 2016 11.47am)

Yeah 79 is quite a gamble for the Insurance Co.

I pay Ł41 a month for Ł100k of cover but that was loaded due to my dodgy ticker (and then reduced due to my devastatingly good looks) - and that ends when I'm 70.

The younger and lovelier Mrs Pikester only pays Ł10 pm for Ł100k of cover........... every time I see her at the top of the stairs I start thinking what I'd do with the money.

Build your own w*nking den in the garden?

Or upgrade the existing one?

With her out the way I'd be able to use the house.

That's it.... my mind's made up!

You fed me, you bred me, I'll remember your name.

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crystal balls The Garden of Earthly Delights 21 Jan 16 2.19pm
Quote Kennyd163 at 20 Jan 2016 12.09am So I'm at that stage in my life where I was looking into getting some cover incase I snuff it early (married, mortgage and 4 kids). Went online and got a quote for Ł37 an month for the next 50 years and was looking at a nice payout for the family when the inevitable happens. Had the email back today saying that all the paperwork was done and just need to give a date for payments each month and that's that. Trouble is that it is now no longer Ł37, it has gone up to Ł70.90 a month. Wtf changed in the space of a month to warrant it doubling in cost? Anyone have life insurance with cheap payments? The only reason that you would have seen a premium hike like that in such a short space of time is that the premium has been "rated" i.e. increased due to medical evidence received by the underwriters, or if you are a smoker (the low premium would be for a non-smoker only). It looks like a 50% rating, probably after they asked for a doctor's report from your GP. You could shop around, some insurance companies only look at people with no health issues and offer the lowest premiums. Other insurers will look at individuals with less than perfect health but will charge a slightly higher premium, not necessarily as much as your quote has been increased to. There's plenty of insurance companies to choose from. I used to be immortal
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crystal balls

The Garden of Earthly Delights 21 Jan 16 2.19pm

Quote Kennyd163 at 20 Jan 2016 12.09am

So I'm at that stage in my life where I was looking into getting some cover incase I snuff it early (married, mortgage and 4 kids). Went online and got a quote for Ł37 an month for the next 50 years and was looking at a nice payout for the family when the inevitable happens. Had the email back today saying that all the paperwork was done and just need to give a date for payments each month and that's that. Trouble is that it is now no longer Ł37, it has gone up to Ł70.90 a month. Wtf changed in the space of a month to warrant it doubling in cost? Anyone have life insurance with cheap payments?

The only reason that you would have seen a premium hike like that in such a short space of time is that the premium has been "rated" i.e. increased due to medical evidence received by the underwriters, or if you are a smoker (the low premium would be for a non-smoker only).

It looks like a 50% rating, probably after they asked for a doctor's report from your GP. You could shop around, some insurance companies only look at people with no health issues and offer the lowest premiums. Other insurers will look at individuals with less than perfect health but will charge a slightly higher premium, not necessarily as much as your quote has been increased to. There's plenty of insurance companies to choose from.

I used to be immortal

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bubble wrap Carparks in South East London 21 Jan 16 5.07pm
Think it might because People in New Addington have a lower life expectancy than most. Would reduce the amount to 50k so you can pay off your mortgage and have a bit left over for a hoilday to Butlins.
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bubble wrap

Carparks in South East London 21 Jan 16 5.07pm

Think it might because People in New Addington have a lower life expectancy than most.
Would reduce the amount to 50k so you can pay off your mortgage and have a bit left over for a hoilday to Butlins.

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