 |
By (user no longer on site) OP
over a year ago
|
are they any good as a life insurance plan, or would i be better going for a fixed term plan.
asking as i need to re insure after my previous one matured so any advice accepted .
thanks in advance |
Reply privately, Reply in forum +quote
or View forums list | |
A couple of points form the LV= website:
- Premiums payable until your 90th Birthday. You could pay more than paid out on death.
- If you stop paying, you won't get anything back.
- Your amount of cover is fixed when your plan starts, inflation will reduce the value.
Spend your money on yourself now and let others sort out what to do with you when you've popped your socks...
Investing the money in ISAs etc is almost worthless at the moment... The plan seems OK if you are expecting to die soon (then your funeral plan will outweight the contributions made).
My rule of thumb is: see how much a funeral will cost now and how much you can contribute. Work out the break-even period and contribute for that long into a savings account of some sort. If you want - assume inflation of 3% (RPI - BoE base rate). |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *umourCouple
over a year ago
Northants |
Biggest con there in insurance! You will pay more and you would be better putting your money in a savings account or an ISA! Unless you are intending popping your clogs after a year and before you have paid in the insured amount!
No wonder these companies make a fortune! |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *emmefataleWoman
over a year ago
dirtybigbadsgirlville |
"Biggest con there in insurance! You will pay more and you would be better putting your money in a savings account or an ISA! Unless you are intending popping your clogs after a year and before you have paid in the insured amount!
No wonder these companies make a fortune!"
ahhhh but you get a free parker pen and some marks n sparks vouchers  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"Biggest con there in insurance! You will pay more and you would be better putting your money in a savings account or an ISA! Unless you are intending popping your clogs after a year and before you have paid in the insured amount!
No wonder these companies make a fortune!ahhhh but you get a free parker pen and some marks n sparks vouchers "
thats it then ... sold  |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
