Over 50 life insurance

[breadstead]

Hi. I'll be 50 in January and am considering setting up some life insurance.

It seems like the right time to do it, as the ads on TV say there's no medical.

I'm a light smoker & moderate drinker but can't be bothered going through it all.

So can anyone make any suggestions on which firms are trustworthy & reliable?

I was thinking of maybe taking out a couple of policies... one offering cover should anything to me short term, and a second perhaps covering me if I (hopefully) live a longer life.

We've no mortgage to pay off and I'll be having a direct creation funeral which is the cheapest option, so I'd just like my long-term girlfriend to have some cash if she had to take some time off work after my departure.

Thanks.

 

[breadstead]

First things first - Why life cover?

If you have no mortgage and no debts, why bother with it?

Do you have dependent children? Again if not - why life cover?

Life cover is generally taken out for the help/financial cover of others family members or to clear mortgages.

Assuming your girlfriend would survive financially on her own with your wage? If so, again why life cover?

Premiums over 50 are likely to be expensive and with no obvious need for cover (unless there is other needs not disclosed) - pay the money into an ISA or something and leave a lump sum via your will.

Yes, I think you may be right. I'll start putting some into another account and make a will.

Thanks.