★★ WHAT TO WATCH NEXT ★★ How We PAID OFF Our Mortgage In 7 Years - ua-cam.com/video/0_aWbccuZiw/v-deo.html How To Invest In Stocks For Beginners UK - ua-cam.com/video/u4n8f-YL5_I/v-deo.html 12 BEST SIDE HUSTLE IDEAS To Make Extra Money - ua-cam.com/video/Ns4g9h7OxuQ/v-deo.html
@@amandabass04 I am a insurance adviser I would recommend you try and go through a broker or an adviser. A common mistake people make when going through a price comparison website is that they might not have or get the right level of cover or it might not be suitable for their needs. Price comparison websites usually offer the cheapest quote first as the insurance companies pay the comparison sites to be at the top of the quote results. This tactic often leaves people buying the cheapest quote but the cheapest quote isn't always the best. If you need any help or advice I will be happy to help.
First, check if you employer provides any insurance cover for employees - many do as part of their standard employee package. Even though it may not be as comprehensive as an individual policy it's a good place to start.
you are a legend, can lesson to you all day long, specially when you say I do that and I have done this, that make things so easy for us as a listener, and make our mind about the subject we are listening to, very easy to follow you and understand, happy found your channel, God bless
Hi Ken, brilliant video as usual. We have term life insurance but I never knew about putting it in a trust. I will probably call them (AIG) to see if it is in a trust or not and if it can be retrospectively done.
Thank you Ken for your good wishes. I watched the video again and there is one thing I didn’t quite understand. Once your term of 30 years over and you haven’t claimed, do u get back part what you have contributed? Sorry to be asking so many questions.
@@aiishaism hiya! Questions are welcome. Happy to answer them. So for Term life insurance, you ONLY get paid if you make a claim in the term of cover. So for a 30 year policy, it covers you for that time and if you have no need for a claim, it doesn't pay out. Hence why the amount you pay pay monthly is so small. Compare it to car insurance. When you pay annually, you never really hope to claim on it unless an accident happens. Same with Term Life Insurance. Whole Life Insurance is guaranteed to pay out but it's WAYYYYYY more expensive. Does that help?
What about Universal Insurance? Do we have this option in the UK? Can you also explain a bit more about the premium aspect of Whole Life insurance and what happens to that premium after death and if we can borrow against it in life?
Does a Term life Insurance protect against Inheritance Tax Liability?Is this relevant considering the latest October 30th 2024 Rachel Reeves Autumn Budget?Can you take a mortgage /loan against your Life insurance?How can one get the Term Life Insurance into Trust and what are the pros and cons of doing that,Pls?
I am so happy i found this video i didn't even have a clue where to go to for advice on life insurance loving every minute so full of knowledge and straight to the point , thank you , thank you 💞
Hai, I am Jaison Mathew Jose, Protection Adviser for Owl Financial, which is one of the largest networks of financial advisers in the UK. I can provide personalised protection advice on the following. •Accident Protection •Income Protection •Life Cover •Critical Illness Cover •Building / Contents Insurance (including Landlord’s Insurance) ↪️FREE consultations. No obligation quotes ↪️ Online Meetings that are convenient for you ↪️Trusted partners globally ↪️Financial Conduct Authority (FCA) regulated ↪️Great value and a wide list of services provided ↪️Tailored solutions for your new or existing insurance policy ↪️Discover more and get a quote today! Contact : Jaison Mathew Jose 🇬🇧 +447437621746 www.owlfinancial.co.uk
@@TheHumblePenny yes definately! It was the topic on our dinner table tonight lol I'm 30 years old and was considering getting it for the points you made in this video, before i watched it. This video gave me clarity and thanks for the final point re: the trust
Thank you for this @thehumblepenny. Ive seen lots of videos about US life insurance policies that you can use to take money from to invest in other areas. Can this be done with any UK policys?
Great video! For your last point you mentioned putting one's life insurance 'in or into a trust', is that for both types of life insurance? (Term and whole) Thank you!
Thank you Ken. Really in-depth and useful. I am researching Life Insurance so found this very helpful indeed. I am a novice investor so will watch your stock video next (although I only want to invest ethically and its proving challenging)
This is possible with some insurers and not others, it is worthwhile asking an adviser to review your needs as it maybe better to continue with the term and supplement with another policy to pay the lump sum, rather than convert.
My mother is thinking of getting life insurance after a medical scare, but she is 56 now and wondering if it's too late or what package to go for as I've seen many providers offer over 50 packages and curious if that's worth it because I read there is a point in which if you live longer, you could be paying in more than what is paid out so maybe the normal life insurance is better and ignore the over 50 package..
if im a student in uk work in part-time, and all my family are in other countries, would you recommend me to get an insurance? im thinking worst case scenario if I get sick, or if I had an accident maybe something good can come out of it for my family
I’m turning 22 in two months and I’m considering getting life insurance but not sure which ones are best suited to me. I want to do for life but there’s too many options, and some catering to people for a young person. I’m also a non smoker. Should I invest into this at this age?
It depends if the policy came with the renewable option. If not you will have to take out a new policy in 30 years but the premiums will be much higher as you will be a lot older. There are policies with an option to renew it or convert it to a whole of life policy. I recommend you look through the terms and conditions of your policy or have an insurance adviser look through it with you,. This can usually be done free of charge.
@@ItaintmeCCC I am being offered with my mortgage and it seems I can't find comparisons to match it or am not looking properly. You are right I probably need an insurance advisor. I have extended to 35 years on the critical illness cover which comes with life insurance I didn't ask for but thinking at that age will I still need the cover? Did not realise there is a whole life option. I went with the 2 year income protection with 60% of income payed out if unable to work but not critical not quiet sure what indexed means.Too many options I need a comprehensive guide.
Thanks so much Ken for this video. This was very useful. I received unsolicited quote from a firm yesterday and was going to look into it. Been putting it off for a while now, but need to get on it for reasons u highlighted. Btw I assume that premiums have gone up substantially now due to COVID19?
You're welcome, Linda! 😊. I'd presume premiums on average will be higher. Saying that though, not many people have life insurance and not all cases are paid out. This is why it pays to get a quality provider
Unfortunately can't as it would be investment advice. But the you want someone reputable. Various examples such as Legal and General, Vitality, etc. Do your research first and seek advice if need be for your situation.
Is there a point getting it if I still don’t have a mortgage or kids? I am getting married in a year or so so will hopefully have both within the next couple of years. Thank you for the video! Very nicely presented!
Hi Omar, the reason you might want to consider it now rather than later is to ensure you are insurable and for affordability. Generally the older you are the more expensive your premiums become. Also there are ppl who are unable to get a life cover because of health conditions/pre existing health conditions. So it might be worth looking into it now since you’re looking to settle down soon. I hope this helps.
The younger you get it, the cheaper it is as it's a fixed monthly amount. If your life circumstances changes later, it will be much harder to get life insurance.
I agree life insurance is definitely worth the money if you have family and dependents. I was wondering what you thought about other insurances (not sure if they're all available in the UK, but assuming they are). TPD (Total Permanent Disability) if you are injured to the extent that you are not able to work again and Income Protection for if you are off work due for a long period of time due to sickness or injury, which pays out 90% of salary until you are able to work again or reach 65, whichever is first. In Australia, all these insurances can be wrapped in our Superannuation (Pension) scheme. Our employers pay in the equivalent of 9.5% of salary into our pensions and we are able to top up from our pre-tax income up to $25,000 per year. The costs for these insurances then come out of these payments into your pension. Therefore, you're getting a great tax deduction on the insurance costs, however it does reduce the amount being invested over the long term for your pension. Thoughts?
Great video first off. I have a term critical illness cover as it is cover for 40yrs when took it out back in 2015 it was £25pm and to date it’s at £30.50pm should this have gone up over the years as you said yours is £29 and will always be that. My question is is this increase normal or should I get in contact with aviva ? Many thanks
Hi, I'm a UK specialist insurance adviser. I work with Precise Protect. The reason your policy is increasing is that you opted for the increase option at the time you took out your policy. Such policies tend to start out cheaper but over time becomes unaffordable so I generally tell my clients not to opt for it. The appropriate option to have gone for is level or guaranteed, this way the sum assured and premium are fixed. The reason a person might opt for the increase option is to ensure the policy is worth the same value in x amount of years as it usually goes up in line with inflation. You will notice that your sum assured is much more at 30.50 than what it was at £25. I hope this helps.
@@TheHumblePenny well Good morning..I guess to be honest I've watched so many UA-cam vids on life insurance that I confused myself even tho I've settled on term insurance..on the phone feels a bit sales like..I was getting regular calls from lifesearch which seem pretty reputable..just was sure what I was signing up to on all small print as they don't send you the actual policy upfront!.. cheers for the reply!..hope your family are safe and well at this uncertain time.
Hai, I am Jaison Mathew Jose, Protection Adviser for Owl Financial, which is one of the largest networks of financial advisers in the UK. I can provide personalised protection advice on the following. •Accident Protection •Income Protection •Life Cover •Critical Illness Cover •Building / Contents Insurance (including Landlord’s Insurance) ↪️FREE consultations. No obligation quotes ↪️ Online Meetings that are convenient for you ↪️Trusted partners globally ↪️Financial Conduct Authority (FCA) regulated ↪️Great value and a wide list of services provided ↪️Tailored solutions for your new or existing insurance policy ↪️Discover more and get a quote today! Contact : Jaison Mathew Jose 🇬🇧 +447437621746 www.owlfinancial.co.uk
Hello! I want to get life insurance for my mother. What is critical illness cover? What if the person does not die within the specified time frame? Are the monthly payments lost? What form did you suggest we get at the end? Something to do with a trust or something? Do you get cover if you are over 60?
as a 68 year old (my dad) and my mother (64) - no mortgage, what would you recommend One child - me 27 Alternatively are there any recommendations for alternatives for them? For me in 27 no kids, no dependencies, I don’t smoke or drink, what would you recommend?
At the end of the term insurance, if you are still alive, then what?? Would you need to re insure yourself at presumably higher premium rates or do you get a payout & transfer to new policy?
Your needs have probably changed and the amount you will need will probably be less, there are specialist products like funeral cover etc. that you may then take on.
Hi Ken, I have just recently taken an AIG life insurance bc I’m over 50 and there were not many options available. Still have no idea if it’s a real insurance deal or scam 😮 have you or anyone heard about this company please help 🙏
My husband and I have life insurance through our jobs. We also have 4 children. Do you suggest we get different policies separate from our jobs? We are both in our 40,s. Thanks
I would advise you go through an insurance adviser. They will be able to look at your needs and the best policy for you based on that aswell as explain everything to you in a way in which you will understand.
I have a mortgage (I'm 32) with about 60k left on it. I don't have a wife or kids so technically feel it isn't necessary but at the same time I wonder if it's best to get it now whilst it's cheaper (given circumstances could change). My biggest conundrum other than this is whether to get a reduced term one so it pays out less over mortgage term, or not... Thoughts?
Hi Adam, Sorry I have only just seen your message. Personally, I'd say get one as early as possible because it is cheaper. £60k Mortgage is not a crazy amount. So whichever one you choose to get should not be driven mainly by your mortgage debt.
Potentially - However, critical illness is pretty expensive. Saying that, I saw that come in handy this year when my mum successfully made a claim on hers. So I don't it's just about which you're better off getting. It's all about what your expected need is. If you think it's more likely that critical illness might become a reality, then you should seriously consider it especially if there are no material pre-existing conditions. Personally, I like the idea of insurance. But I get involved after a careful assessment of cost vs benefit 😀
I am slightly confused around the comment on life insurance companies excluding certain types of death? In my experience i have not seen this, they certainly cover suicide and if you used drugs or alcohol to commit suicide then it would be covered (not in the first 12 months as suicide is not covered in that period). Can you expand on where you have got this information as all the insurers that i have dealt with pay out on death (including suicide) and do not state that certain types of death are not covered in the policy. The insurers ask you about your drug and alcohol use when you take out a policy and may refuse to insure you. If you lied or did not disclose drug or alcohol use that was discovered after your death (perhaps in your medical history) then the insurer may not pay out due to this non-disclosure but that is a different thing to the way you died?
I got my life insurance a day before my 28th birthday and the monthly payment is very very low and it's a guaranteed payout. I also want to get funeral cover soon. Very good video as always...
@@TheHumblePenny At first I was with Aviva. It wasn’t a guaranteed payout. It was £14.33 for £100k insurance. Then I kept looking around to find a better offer and two months later I changed to Zurich which now costs me £15.35 for £250k insurance. Their terms and conditions say that they don’t pay out if you stop making payments towards the insurance or if you take your life within a year of the policy. Other than those two conditions - which are pretty straightforward... it is a guaranteed payout.
@humblepenny what if my current work already signed me up for a group life insurance policy? Should I just let my wife get her insurance I think k it’s a great idea and when I leave that company I will take up a new life insurance or continue with them on term life insurance as a continued policy.
Hi, I cancelled my aviva term life insurance after 9yrs, it is a 27 yrs plan. Then I move to Vitality insurance. Can I get a refund from Aviva? or the money goes to drain?
There are a number of Scottish providers, the one I believe here maybe Scottish Widows, I say this as it was in conjunction with a mortgage and SW are now part of LLoyds Bank. My experience is they are a good insurance provider and have a costs effective policy and have high pay out rates. The best thing to do is go to an adviser to help you chose what you need.
★★ WHAT TO WATCH NEXT ★★
How We PAID OFF Our Mortgage In 7 Years - ua-cam.com/video/0_aWbccuZiw/v-deo.html
How To Invest In Stocks For Beginners UK - ua-cam.com/video/u4n8f-YL5_I/v-deo.html
12 BEST SIDE HUSTLE IDEAS To Make Extra Money - ua-cam.com/video/Ns4g9h7OxuQ/v-deo.html
I am a single mum of four, I needed to hear this. I have just applied for life insurance online. Thank you.
Great stuff, Ellena!
may I now what company
or provider
@@amandabass04
I am a insurance adviser I would recommend you try and go through a broker or an adviser. A common mistake people make when going through a price comparison website is that they might not have or get the right level of cover or it might not be suitable for their needs. Price comparison websites usually offer the cheapest quote first as the insurance companies pay the comparison sites to be at the top of the quote results. This tactic often leaves people buying the cheapest quote but the cheapest quote isn't always the best. If you need any help or advice I will be happy to help.
First, check if you employer provides any insurance cover for employees - many do as part of their standard employee package. Even though it may not be as comprehensive as an individual policy it's a good place to start.
Agree
I would encourage you to get life insurance if you have depends to cover living expenses for those that are left behind.
Yessir! 😀
First time coming across your videos. You are such a good communicator! Explained everything perfectly. Thank you
Thank so much 😊🙏🏾. Do please share with others.
you are a legend, can lesson to you all day long, specially when you say I do that and I have done this, that make things so easy for us as a listener, and make our mind about the subject we are listening to, very easy to follow you and understand, happy found your channel, God bless
😊🙏🏾🙏🏾. Please share with others
Hi Ken, brilliant video as usual. We have term life insurance but I never knew about putting it in a trust. I will probably call them (AIG) to see if it is in a trust or not and if it can be retrospectively done.
You are truly amazing and thank you so much once again for being so elaborate.
Happy to have served you today 😊🙏🏽. Onwards
Thank you Ken for your good wishes. I watched the video again and there is one thing I didn’t quite understand.
Once your term of 30 years over and you haven’t claimed, do u get back part what you have contributed?
Sorry to be asking so many questions.
@@aiishaism hiya! Questions are welcome. Happy to answer them. So for Term life insurance, you ONLY get paid if you make a claim in the term of cover. So for a 30 year policy, it covers you for that time and if you have no need for a claim, it doesn't pay out. Hence why the amount you pay pay monthly is so small.
Compare it to car insurance. When you pay annually, you never really hope to claim on it unless an accident happens. Same with Term Life Insurance.
Whole Life Insurance is guaranteed to pay out but it's WAYYYYYY more expensive. Does that help?
What about Universal Insurance? Do we have this option in the UK? Can you also explain a bit more about the premium aspect of Whole Life insurance and what happens to that premium after death and if we can borrow against it in life?
Thank you. This was very informative. I took out a policy straight after watching and i now feel that my family is a bit more protected.
Hurray!! This is a RESULT! 😀
Wonderful informative video thank King! Many blessings ❤️🙏🏿
Much appreciated 😊🙏🏾
I appreciate this video so much 💎👌🏾
Cheers, Nathan :)
Does a Term life Insurance protect against Inheritance Tax Liability?Is this relevant considering the latest October 30th 2024 Rachel Reeves Autumn Budget?Can you take a mortgage /loan against your Life insurance?How can one get the Term Life Insurance into Trust and what are the pros and cons of doing that,Pls?
Very informative video, I now can decide which insurance I can go for depending on my personal circumstances.
I am so happy i found this video i didn't even have a clue where to go to for advice on life insurance loving every minute so full of knowledge and straight to the point , thank you , thank you 💞
Hai,
I am Jaison Mathew Jose, Protection Adviser for Owl Financial, which is one of the largest networks of financial advisers in the UK.
I can provide personalised protection advice on the following.
•Accident Protection
•Income Protection
•Life Cover
•Critical Illness Cover
•Building / Contents Insurance (including Landlord’s Insurance)
↪️FREE consultations. No obligation quotes
↪️ Online Meetings that are convenient for you
↪️Trusted partners globally
↪️Financial Conduct Authority (FCA) regulated
↪️Great value and a wide list of services
provided
↪️Tailored solutions for your new or existing insurance policy
↪️Discover more and get a quote today!
Contact :
Jaison Mathew Jose
🇬🇧 +447437621746
www.owlfinancial.co.uk
Thank you 😊
This was very informative. Thanks Ken
Super! Considering getting life insurance?
@@TheHumblePenny yes definately! It was the topic on our dinner table tonight lol I'm 30 years old and was considering getting it for the points you made in this video, before i watched it. This video gave me clarity and thanks for the final point re: the trust
Hi Ken, what's your take on life policies that the premium keeps increasing yearly? I think they are referred to as indexation policies.
I don't like them. I avoid.
@humblepenny what if the insurance company goes bust? what happens to the money you put in and the life insurance cover? Is there any protection?
Wow. What a great video. You did an amazing job. I have Life insurance. This is to look after my family 😊
Thank you for the info
great video.... very informative and clear... thanks!
Thank you for this @thehumblepenny. Ive seen lots of videos about US life insurance policies that you can use to take money from to invest in other areas. Can this be done with any UK policys?
We'll make a video about this
@@TheHumblePenny let me know!
That’s what I’m looking for 😂😂
Same
@@cristinafiltingher1009did he do another video because I can't find it?
Great video! For your last point you mentioned putting one's life insurance 'in or into a trust', is that for both types of life insurance? (Term and whole) Thank you!
Thank you! :)
Yes.
The Humble Penny IT WAS A QUESTION NOT A COMPLIMENT!
I do not understand? How do you put life insurance into a trust?
Thank you Ken. Really in-depth and useful. I am researching Life Insurance so found this very helpful indeed. I am a novice investor so will watch your stock video next (although I only want to invest ethically and its proving challenging)
Thank you, Niki 😀. We have a whole video dedicated to ethical investing.
How does it help when getting a mortgage?
Great video !👍🏾 is it possible to switch from term life insurance to whole life insurance if one has already taken out the former?
This is possible with some insurers and not others, it is worthwhile asking an adviser to review your needs as it maybe better to continue with the term and supplement with another policy to pay the lump sum, rather than convert.
Have learnt so much. Thank u
You're most welcome! 😀
My mother is thinking of getting life insurance after a medical scare, but she is 56 now and wondering if it's too late or what package to go for as I've seen many providers offer over 50 packages and curious if that's worth it because I read there is a point in which if you live longer, you could be paying in more than what is paid out so maybe the normal life insurance is better and ignore the over 50 package..
if im a student in uk work in part-time, and all my family are in other countries, would you recommend me to get an insurance? im thinking worst case scenario if I get sick, or if I had an accident maybe something good can come out of it for my family
I’m turning 22 in two months and I’m considering getting life insurance but not sure which ones are best suited to me. I want to do for life but there’s too many options, and some catering to people for a young person. I’m also a non smoker. Should I invest into this at this age?
What happens after the 30 year term can you renew? Please do a video on the critical illness or income protection cover.
It depends if the policy came with the renewable option. If not you will have to take out a new policy in 30 years but the premiums will be much higher as you will be a lot older. There are policies with an option to renew it or convert it to a whole of life policy. I recommend you look through the terms and conditions of your policy or have an insurance adviser look through it with you,. This can usually be done free of charge.
@@ItaintmeCCC I am being offered with my mortgage and it seems I can't find comparisons to match it or am not looking properly. You are right I probably need an insurance advisor. I have extended to 35 years on the critical illness cover which comes with life insurance I didn't ask for but thinking at that age will I still need the cover? Did not realise there is a whole life option. I went with the 2 year income protection with 60% of income payed out if unable to work but not critical not quiet sure what indexed means.Too many options I need a comprehensive guide.
Can you give me any information about Cash Value Whole life Insurance in the UK?
Thanks so much Ken for this video. This was very useful. I received unsolicited quote from a firm yesterday and was going to look into it. Been putting it off for a while now, but need to get on it for reasons u highlighted. Btw I assume that premiums have gone up substantially now due to COVID19?
You're welcome, Linda! 😊. I'd presume premiums on average will be higher. Saying that though, not many people have life insurance and not all cases are paid out. This is why it pays to get a quality provider
Thank you for this information, are you able to recommend a reputable life insurance company
Unfortunately can't as it would be investment advice. But the you want someone reputable. Various examples such as Legal and General, Vitality, etc. Do your research first and seek advice if need be for your situation.
Is there a point getting it if I still don’t have a mortgage or kids? I am getting married in a year or so so will hopefully have both within the next couple of years.
Thank you for the video! Very nicely presented!
Hi Omar, the reason you might want to consider it now rather than later is to ensure you are insurable and for affordability. Generally the older you are the more expensive your premiums become. Also there are ppl who are unable to get a life cover because of health conditions/pre existing health conditions. So it might be worth looking into it now since you’re looking to settle down soon. I hope this helps.
The younger you get it, the cheaper it is as it's a fixed monthly amount. If your life circumstances changes later, it will be much harder to get life insurance.
What is best company insurance?
I agree life insurance is definitely worth the money if you have family and dependents. I was wondering what you thought about other insurances (not sure if they're all available in the UK, but assuming they are). TPD (Total Permanent Disability) if you are injured to the extent that you are not able to work again and Income Protection for if you are off work due for a long period of time due to sickness or injury, which pays out 90% of salary until you are able to work again or reach 65, whichever is first.
In Australia, all these insurances can be wrapped in our Superannuation (Pension) scheme. Our employers pay in the equivalent of 9.5% of salary into our pensions and we are able to top up from our pre-tax income up to $25,000 per year. The costs for these insurances then come out of these payments into your pension. Therefore, you're getting a great tax deduction on the insurance costs, however it does reduce the amount being invested over the long term for your pension. Thoughts?
Great content. Thank you
Great video first off.
I have a term critical illness cover as it is cover for 40yrs when took it out back in 2015 it was £25pm and to date it’s at £30.50pm should this have gone up over the years as you said yours is £29 and will always be that. My question is is this increase normal or should I get in contact with aviva ? Many thanks
Contact them. Mine is life insurance though and it has never changed.
Hi, I'm a UK specialist insurance adviser. I work with Precise Protect. The reason your policy is increasing is that you opted for the increase option at the time you took out your policy. Such policies tend to start out cheaper but over time becomes unaffordable so I generally tell my clients not to opt for it. The appropriate option to have gone for is level or guaranteed, this way the sum assured and premium are fixed. The reason a person might opt for the increase option is to ensure the policy is worth the same value in x amount of years as it usually goes up in line with inflation. You will notice that your sum assured is much more at 30.50 than what it was at £25. I hope this helps.
@@temilustre7041 thank you
Me and my partner are 35 yrs and considering 35 year term or 50 year. The price is double but still affordable. Is it worth doing 50 years ?
Alot of people here seem be doing it online..I'm thinking I prefer doing it thru a financial adviser rather than over the phone or net!
Why, Kev?
@@TheHumblePenny well Good morning..I guess to be honest I've watched so many UA-cam vids on life insurance that I confused myself even tho I've settled on term insurance..on the phone feels a bit sales like..I was getting regular calls from lifesearch which seem pretty reputable..just was sure what I was signing up to on all small print as they don't send you the actual policy upfront!.. cheers for the reply!..hope your family are safe and well at this uncertain time.
Hai,
I am Jaison Mathew Jose, Protection Adviser for Owl Financial, which is one of the largest networks of financial advisers in the UK.
I can provide personalised protection advice on the following.
•Accident Protection
•Income Protection
•Life Cover
•Critical Illness Cover
•Building / Contents Insurance (including Landlord’s Insurance)
↪️FREE consultations. No obligation quotes
↪️ Online Meetings that are convenient for you
↪️Trusted partners globally
↪️Financial Conduct Authority (FCA) regulated
↪️Great value and a wide list of services
provided
↪️Tailored solutions for your new or existing insurance policy
↪️Discover more and get a quote today!
Contact :
Jaison Mathew Jose
🇬🇧 +447437621746
www.owlfinancial.co.uk
Thank you for this amazing video! We are also using lifesearch, if I make a trust now can I revise it later once we have children?
Yes.
Hello! I want to get life insurance for my mother. What is critical illness cover? What if the person does not die within the specified time frame? Are the monthly payments lost? What form did you suggest we get at the end? Something to do with a trust or something? Do you get cover if you are over 60?
as a 68 year old (my dad) and my mother (64) - no mortgage, what would you recommend
One child - me 27
Alternatively are there any recommendations for alternatives for them?
For me in 27 no kids, no dependencies, I don’t smoke or drink, what would you recommend?
At the end of the term insurance, if you are still alive, then what?? Would you need to re insure yourself at presumably higher premium rates or do you get a payout & transfer to new policy?
No payout. Just a higher premium as you'll be older, etc.
Your needs have probably changed and the amount you will need will probably be less, there are specialist products like funeral cover etc. that you may then take on.
Hi Ken, I have just recently taken an AIG life insurance bc I’m over 50 and there were not many options available. Still have no idea if it’s a real insurance deal or scam 😮 have you or anyone heard about this company please help 🙏
Does the UK do deals where you can borrow loans against your life insurance policy?....if so what are the ramifications. Thanks
Video loading....
Can you borrow against the life insurance similar to the US? In the UK?
No.
Is it ideal to make a set of health, life and car insurance in 1 provider?
I'd suggest different providers
@@TheHumblePenny thank you for kindly responding me!! Will keep supporting watching your channel, say safe!!
My husband and I have life insurance through our jobs. We also have 4 children. Do you suggest we get different policies separate from our jobs? We are both in our 40,s. Thanks
Hi Rose
I would! Because you can lose that job and life insurance policies get more expensive the older you get.
The Humble Penny thanks!
I am so confusedI too many potions outhere in the market I do know what to chose help please
I would advise you go through an insurance adviser. They will be able to look at your needs and the best policy for you based on that aswell as explain everything to you in a way in which you will understand.
Hi, would you recommend AIG life insurance?
Not specifically. But generally focus on reputable companies.
Is it the same as income protection insurance ?
No, that's a different insurance entirely
Thanks
Really good thanks his helped so much !
Glad it helped! Cheers, Kimbella!
whats a trust is it better to do it?
Yes. I recommend everyone to put a policy into trust.
I have a mortgage (I'm 32) with about 60k left on it. I don't have a wife or kids so technically feel it isn't necessary but at the same time I wonder if it's best to get it now whilst it's cheaper (given circumstances could change). My biggest conundrum other than this is whether to get a reduced term one so it pays out less over mortgage term, or not... Thoughts?
Hi Adam,
Sorry I have only just seen your message. Personally, I'd say get one as early as possible because it is cheaper. £60k Mortgage is not a crazy amount. So whichever one you choose to get should not be driven mainly by your mortgage debt.
When you say you pay £29 for your life insurance, do you mean each or combined? Just curious!
Each.
That’s high. I know someone who pays £6 for £80000 cover for 30 years
👏🏽👏🏽👏🏽
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I don’t have any depends. Am I better off getting critical illness cover? ( not terminally ill cover)
I only have a very small
Mortgage left 60k
Potentially - However, critical illness is pretty expensive. Saying that, I saw that come in handy this year when my mum successfully made a claim on hers.
So I don't it's just about which you're better off getting. It's all about what your expected need is. If you think it's more likely that critical illness might become a reality, then you should seriously consider it especially if there are no material pre-existing conditions.
Personally, I like the idea of insurance. But I get involved after a careful assessment of cost vs benefit 😀
I am slightly confused around the comment on life insurance companies excluding certain types of death? In my experience i have not seen this, they certainly cover suicide and if you used drugs or alcohol to commit suicide then it would be covered (not in the first 12 months as suicide is not covered in that period). Can you expand on where you have got this information as all the insurers that i have dealt with pay out on death (including suicide) and do not state that certain types of death are not covered in the policy. The insurers ask you about your drug and alcohol use when you take out a policy and may refuse to insure you. If you lied or did not disclose drug or alcohol use that was discovered after your death (perhaps in your medical history) then the insurer may not pay out due to this non-disclosure but that is a different thing to the way you died?
I got myself life insurance first one
Great!
Can you take money out of your whole life insurance policy ?
Or can you borrow loans against TERM life insurance?
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I got my life insurance a day before my 28th birthday and the monthly payment is very very low and it's a guaranteed payout. I also want to get funeral cover soon. Very good video as always...
Nice re guaranteed payout! Who is your provider, Mandy?
@@TheHumblePenny At first I was with Aviva. It wasn’t a guaranteed payout. It was £14.33 for £100k insurance. Then I kept looking around to find a better offer and two months later I changed to Zurich which now costs me £15.35 for £250k insurance. Their terms and conditions say that they don’t pay out if you stop making payments towards the insurance or if you take your life within a year of the policy. Other than those two conditions - which are pretty straightforward... it is a guaranteed payout.
@@mandylove9845 is it Term Life insurance?
@@TheHumblePenny Yes it is, I think it either for 40 years or slightly longer. I will be in my early 80's
@humblepenny what if my current work already signed me up for a group life insurance policy? Should I just let my wife get her insurance I think k it’s a great idea and when I leave that company I will take up a new life insurance or continue with them on term life insurance as a continued policy.
Hi, I cancelled my aviva term life insurance after 9yrs, it is a 27 yrs plan. Then I move to Vitality insurance. Can I get a refund from Aviva? or the money goes to drain?
The money gave you cover for 9 years. So it's not quite money down the drain :)
You can't get a refund. See it as the cost of peace of mind.
Hi Ken, Is Scottish Provider a reliable company to have our cover?
Thanks in advance.
There are a number of Scottish providers, the one I believe here maybe Scottish Widows, I say this as it was in conjunction with a mortgage and SW are now part of LLoyds Bank. My experience is they are a good insurance provider and have a costs effective policy and have high pay out rates. The best thing to do is go to an adviser to help you chose what you need.
Can my husband take life insurance on me
No. But he can be the beneficiary of your own policy. You each need to take your own policies out or you can take a joint policy.
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whole life insurance
£29 each?
Yes.
Can you borrow against your life insurance in the UK???
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is Life and General a reputable company? Did you get a critical illness cover?
L&G are reputable from what I know. No, I didn't get critical illness. But that doesn't mean you shouldn't.
If life insurance keep cash 💰 value money I don’t need life insurance 🤣🤣🤣🤣🤣🤣🤣