Life Insurance

A question about : Life Insurance

Hi - just hubby and me and no mortgage.
Hubby 59 and just had a policy out - so I want to take out another one - I have a small life policy out next year when I am 59 too.

Have been looking at the 'no medical' ones as we both have health issues - and only want to pay Ј7-10 a month - but some are for 10yrs, some 20 and others for whole of life.

Was just going to take one out for hubby at present just to have something to cover funeral etc - is a 10yr one stupid to do as it will be hard to get another policy afterwards - or am I looking at it wrong?

Have looked at Tesco, Shepherd's Friendly (confused.com), Sun Life Aviva and Saga.

He has small works pension but otherwise ESA (support group) and I just get mobility allowance so not a lot to spare.

Best answers:

• After my FIL paid in almost double what they paid out i wouldnt touch these unless you have a crystal ball and can see into the future.
  His funeral plan worked out to have saved money though. He paid a fair bit less for his age concern plan than what it would have cost to buy at current rates.
• Dunston - thank yu. Novice at all this. Did go online and start filling out one of those medical forms with him but he's had bowle ops and now blood pressure so we though it might just be easier to do one of the others with no medical questions. Or perhaps I should have persevered. We were not expecting to get a lot back - just a little something. Also is it better to do two separate one or go joint? As my Ј6 a month one finishes next year too.
  Forgotmyname - also thanks - had wondered about those funeral plan ones and whether they were better or not.
• The no medical type policies are aimed at the market segments that have issues which is why they arent getting a regular policy and as such will be priced accordingly.
  10 -v- 20 -v- whole of life, that depends on your needs. You say the policy is to cover funeral costs so how would you pay the funeral costs if your hubby died in 11 years time and you had bought a 10 year policy? Maybe you are saving up or have expectation of some money coming in within 10 years in which case that would be appropriate. If affording to pay for a funeral will always be a problem then whole of life or a funeral plan is more sensible.