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Author Topic: INSURANCE, INSURANCE  (Read 1710 times)

Seaspray

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INSURANCE, INSURANCE
« on: January 15, 2009, 06:54:04 PM »

Any members up on life or whole life insurance.

Lost a lot on Barclays whole life this year need to consider a change.  {:-{

I am 60 and not too keen on insurances linked to the market.

Ideas appreciated. (senseable ones)

Seaspray
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Colin Bishop

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Re: INSURANCE, INSURANCE
« Reply #1 on: January 15, 2009, 06:58:30 PM »

Why do you feel you need life insurance? I have always been given the impression that once the kids grow up it becomes unnecessary but maybe that isn't the case. It certainly becomes expensive as you get older though and they usually want a lot of medical info.

Colin
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chingdevil

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Re: INSURANCE, INSURANCE
« Reply #2 on: January 15, 2009, 07:55:59 PM »

If you have a company pension that usually has life insurance, I am worth more dead than alive though do not tell SWMBO yet


Brian
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omra85

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Re: INSURANCE, INSURANCE
« Reply #3 on: January 15, 2009, 08:14:12 PM »

You have to have it to cover mortgages and it is included in endowment types.
Mrs and I have enough just to cover funeral expenses and that's it.  The rest is joint owned or automatically goes to the other half (no kids  :-)) )

Danny
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alan colson

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Re: INSURANCE, INSURANCE
« Reply #4 on: January 15, 2009, 09:22:52 PM »

Not everyone has a mortgage, some are lucky enough to have paid them up, some live in rented property, either private tenants or council.
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wideawake

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Re: INSURANCE, INSURANCE
« Reply #5 on: January 15, 2009, 09:50:00 PM »

Not everyone has a mortgage, some are lucky enough to have paid them up, some live in rented property, either private tenants or council.

Thanks to two ex-wives I still have a small mortgage but I wouldn't dream of insuring myself to pay it off!   There's more than enough equity in the house so, if I've not had to sell and spend the money on care in my later years, then it can be paid off from my estate when the house is sold.

I'm no great believer in insurance unless it's a legal requirement.

Cheers

Guy
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Seaspray

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Re: INSURANCE, INSURANCE
« Reply #6 on: January 16, 2009, 08:21:53 AM »

It was just for funeral expenses. The house is on a mortgage and the surviver gets it. I am o.k. I get free medical from the NHS l.o.l.  Would certainly like to do without insurance. I'll  look further into it do feel I need a small sum to cover costs. As you lose your job so does the pension go and with it in death in service.


cheers lads
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Colin Bishop

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Re: INSURANCE, INSURANCE
« Reply #7 on: January 16, 2009, 09:58:33 AM »

There are Insurance plans intended for this purpose see here for example:

http://www.lifeassureonline.co.uk/funeral-plan?gclid=CPXXu9DokpgCFQsh3godlRZenA
http://www.topquoteonline.co.uk/articles/burial-insurance-and-funeral-cover.php

or a specific Funeral Plan:

http://www.guardian.co.uk/money/2003/nov/14/1
http://www.lifeinsurance.co.uk/life-insurance-information/funeral-plans.html

Just Google Funeral Expenses Insurance - lots of things come up.

Of course it may not be necessary as they are making wonderful advances in recycling these days....

Colin
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grasshopper

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Re: INSURANCE, INSURANCE
« Reply #8 on: January 16, 2009, 11:32:20 AM »

Ring your local insurance broker or better yet go and sit in their office and do it , get the basic cover from them that you need.....go to a bank and they hassle you for everything else, go on-line and they don't always cover everything you need because you skip the questions you think aren't relevant. ditto on the phone -  and there's often a language  difficulty that could lead to mis-understandings
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Roger in France

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Re: INSURANCE, INSURANCE
« Reply #9 on: January 16, 2009, 12:00:36 PM »

Two of the most evil institutions in the capitalist world are the banks and the insurance companies. They show the highest profits, do their utmost to avoid their responsibilities and largely mislead their customers.

Unfortunately there are some insurances one must have - by law - and some it is wise to have like fire and theft. otherwise steer clear of both institutions as much as you can. There are other options which may, at first, seem less attractive but are safer and more moral in the long run.

Roger in France
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bobdoc

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Re: INSURANCE, INSURANCE
« Reply #10 on: January 29, 2009, 08:47:29 PM »

A whole of life "box" insurance (<50 but don't care who dies first) insurance = offset against inheritance tax for the kids.

Or else SKI insurance, Spend the Kids Inheritance, insurance rules OK and go skiing, cruising, etc.!

Bobdoc
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Seaspray

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Re: INSURANCE, INSURANCE
« Reply #11 on: January 30, 2009, 10:29:48 AM »

I am just going to sell it before its worth ziltch put it into a government something or other. Anyway its only the good that die young ,hell in that case I'll be up for living to my 100s   ok2

Seaspray
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tigertiger

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Re: INSURANCE, INSURANCE
« Reply #12 on: January 30, 2009, 12:04:38 PM »

If it is now worth almost Zilch, it is possbily better to hang on to it. Long term the market will go up.
Selling out in a bear market is a guarantee of getting almost zilch.

Governemnt bonds are offereng very little return at the moment. Especially with the pound so weak.
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