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Life cover

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Old 03-02-2004, 02:51 PM   #1
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Join Date: Jan 2004
Last blog entry: Mon, 2010-08-30 08:56
Location: Cambridge
Life cover

One of the most often asked questions I get asked by South Africans who are looking for life cover is, 'I want life cover with some financial return back in the end'.

This is a throwback to the endowments that we regularly got sold back in SA. These products do not come highly recommended in the UK, as they generally tend to be highly charged products which make a lot of commision for the adviser and fees for the insurance provider.

If you are taking out a mortgage for example, the current advice tends to be that you should consider a repayment mortgage, and take out a seperate life cover for the term of the mortgage. There are many good websites where you can find cheaper life cover.

If you have existing life cover, and your health has not changed, then you can allways look to rebroke your current life cover to get cheaper premiums (just think, a saving of £5.00 over 25 years adds up to £1500.) Just don't cancell your existing cover untill you have been accepted by the new company though.

One of the things that ex South Africans will generally get asked to complete is an AIDS questionare for obvious reasons.

Once again there are various websites that can assist you with this.
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Old 22-02-2004, 10:40 PM   #2
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My tip : Take it out early as you get health record against you later in life.

Especially if you are the breadwinner - and especially the ONLY breadwinner !

I have a massive life cover policy but I can not get cover on the job I do ... (flying) - now I remember when we got wings in 1980 how we had to chase life insurers away from the base as they where pests .. if ... yes if I jsut did it then .. please do not say if one day ... (like me)
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Old 15-07-2004, 03:52 PM   #3
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We are looking in to getting cover as meither of us has any. Luckily we are still young and healthy.

Does anyone know/use any good Uk based companies?
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Old 16-07-2004, 09:43 AM   #4
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Old 16-07-2004, 11:51 AM   #5
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Had a look, will contact you on Monday after talking it over with George. Thank you very much
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