Life Insurance?

[sasha011]

Me and my husband are in out 20s and wondering whether it is worth getting life insurance or not.

It seems you can only get max of 40 years at a time and that would only take us up until our 60s anyway.

Any ideas??

[Peter Pedant]

No get some more advice.

I think you may be referring to 'term Insurance' as 40 yrs takes you to 60 and that is when a lot of terms end.

the other sort is Whole-of-life insurance
and the younger is the better,
so yeah GOOD IDEA
go out and get some.

PP I got ca at 45 and so am uninsurable . Every one thinks that means that my insurances have lapsed but it doesnt. It means that I can't insure my life anew anymore. This also means that I have to keep up any insurances I have previously bought no matter what the deal is, as I can never get any more.

Oh and remember you can write insurances to trust out of your will so the pay out does not count towards the �300 000 you get tax free on death. This is called IHT planning.

I thoroughly applaud your foresight
in that you and your hubby are thinking things people only get around to in their forties - well done !

[bednobs]

it depends on if you have anything worth securing ... ie if you have a mortgage, then in my opinion it is worth getting life insurance, in case one of you dies, the other doesent have to worry about paying the mortgage on their own, or face being evicted from the house

[pussglen]

Quite simply it is worth sasha you never know whats round the corner.
Good answer from bednobs.

[aimsins1]

I would always recommend life insurance if you are married. The younger you are the cheaper it is and you can just add to your cover if you take a mortgage or your wage increases. I would speak to a financial advisor and explain the situation. They will work on your behalf and try to get your the best deal. I'm a broker myself and do a lot of business with friends provident they do term assurance up to 70 with the ability to increase at a later date if required.