Life Insurance
11 June 2003, 09:53 PM
#3
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Everyone stand back - I'm here 
Vinesh - You can never have too much life assurance. There is no upeer limit on the number of policies you can have or how much they are for. That said, you don't always need any.
EG - You are young free and single, no debts no wife and no dependants - who would need the money if you die? None needed
Young free and single with a mortgage - you need to cover the mortgage only
Young married, mortgage - still only real requirement is to cover the mortgage, but you should be looking at some family protection. You could get killed in a car crash answering the phone to your wife who is trying to tell you she is pregnant
Married mortgage kids - my favourite kind of person. You should have enough assurance to cover you until your youngest child reaches say 18,21 or 25. You don't want them to be lonely AND poor if you die?
I have clients with maybe 12 or 14 different policies for different purposes. I do this for two reasons - One is that it will ensure that they will have the right amount of cover at the right time. The second is that it confuses the living **** out of anyone who comes after me trying to re-price the insurance
Vinesh - You can never have too much life assurance. There is no upeer limit on the number of policies you can have or how much they are for. That said, you don't always need any.
EG - You are young free and single, no debts no wife and no dependants - who would need the money if you die? None needed
Young free and single with a mortgage - you need to cover the mortgage only
Young married, mortgage - still only real requirement is to cover the mortgage, but you should be looking at some family protection. You could get killed in a car crash answering the phone to your wife who is trying to tell you she is pregnant
Married mortgage kids - my favourite kind of person. You should have enough assurance to cover you until your youngest child reaches say 18,21 or 25. You don't want them to be lonely AND poor if you die?
I have clients with maybe 12 or 14 different policies for different purposes. I do this for two reasons - One is that it will ensure that they will have the right amount of cover at the right time. The second is that it confuses the living **** out of anyone who comes after me trying to re-price the insurance
12 June 2003, 12:33 AM
#4
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"The second is that it confuses the living **** out of anyone who comes after me trying to re-price the insurance "
oh, im sure it could be done
T
ps- tip for quick responses from advisers on SN...mention big houses and loads of cash even if you have none.....it will save you waiting all day to get 3 replys!
oh, im sure it could be done
T
ps- tip for quick responses from advisers on SN...mention big houses and loads of cash even if you have none.....it will save you waiting all day to get 3 replys!
12 June 2003, 09:53 AM
#5
Life cover - term, whole of life, endowment?
Health cover - critical illness, disability, permanent health insurance, long term care....................on and on it goes..................
Pension................
I need more money to keep my wife in the lifestyle she has got used to.
Health cover - critical illness, disability, permanent health insurance, long term care....................on and on it goes..................
Pension................
I need more money to keep my wife in the lifestyle she has got used to.
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