Life insurance

[clearedforlanding]

Dead peasant insurance is where it is at.

If you worked for Walmart they wwould take out a life insurance policy for you. Only you would not get the payout, they were betting on your death. Sort of.

Dead Peasant Insurance : snopes.com

[scooterscot]

Is you sure? Insurance is for something that might happen whereas assurance is for something that is certain to happen. This means you could get life insurance against your death due to an accident whereas you would get life assurance because you know you're going to die. In most countries, apart from the UK and it's territories it tends to be called insurance, i.e. Lebensversicherung

I agree. And yet the result in both examples given is the same. No ifs no buts death will happen whether you planned it or not, so calling it 'life insurance' is weird.

'Term insurance' is the proper name for a policy that remains active after the term is serviced. i.e. your death.

[darmstadt]

There's no such thing as life insurance. Life assurance maybe...

What you're looking for is called 'term insurance', something that pays out should something happen to the bread winner?

Is you sure? Insurance is for something that might happen whereas assurance is for something that is certain to happen. This means you could get life insurance against your death due to an accident whereas you would get life assurance because you know you're going to die. In most countries, apart from the UK and it's territories it tends to be called insurance, i.e. Lebensversicherung

[ASB]

Legal & General - Putting your policy in trust

Hi,

Does anyone have life insurance for them and other half? I'm looking into getting individual policies for my wife and I and wanted to know if we would be able to put the policies into a trust half way the policy.

VC

I am asuming it iw term assurance. Generall you should be able to wrap it in trust via an expression of wish whilst they policy is live.

I am assuming you are looking at this from a point of iht planning so some advice may be sensible.

one providers info which may help is linked above.

[scooterscot]

Also beware an IFA who tries to sells a product attached to another. You're only after one product.

[Troll]

There's no such thing as life insurance. Life assurance maybe...

What you're looking for is called 'term insurance', something that pays out should something happen to the bread winner?

& watch out for policies that get "reviewed" as you get older - meaning the 200k get reduced to 150k

[scooterscot]

There's no such thing as life insurance. Life assurance maybe...

What you're looking for is called 'term insurance', something that pays out should something happen to the bread winner?

[PurpleGorilla]

Speak to an IFA

[newmove]

Hi,

Does anyone have life insurance for them and other half? I'm looking into getting individual policies for my wife and I and wanted to know if we would be able to put the policies into a trust half way the policy.

VC

This is supposed to be called life assurance because it's definitely going to happen.

[VillageContractor]

Hi,

Does anyone have life insurance for them and other half? I'm looking into getting individual policies for my wife and I and wanted to know if we would be able to put the policies into a trust half way the policy.

VC