Life Insurance Help

LemonCream21

I am a looking at taking out a life insurance plan but don't know where to start. I am a female in my 20's with a young baby and now thinking about the future for my child etc. I'm totally clueless when it comes to the plans for any of this sort of thing.

What is a good amount to take out, is there a certain type of cover I should go for, what number of years is a good idea, does it stay there until I die or does it have to be paid out after a certain number of years?

Any information anyone could give me would be immensely helpful. Sorry if this seems a bit dense!!

PaulM1977

Not dense at all, everyone's circumstances are different. You should sit down with an independent financial adviser, who can research the market for you, and give you an idea of the level and type of cover you would need.
If you do, find out if they will charge you a fee or will be paid by commission from the Life company and make sure they are not tied to 1 insurer as the same insurance premium differs between them all and also have different benefits as part of their plans.

Geuze

LemonCream21 wrote: »

I am a looking at taking out a life insurance plan but don't know where to start. I am a female in my 20's with a young baby and now thinking about the future for my child etc. I'm totally clueless when it comes to the plans for any of this sort of thing.

What is a good amount to take out, is there a certain type of cover I should go for, what number of years is a good idea, does it stay there until I die or does it have to be paid out after a certain number of years?

Any information anyone could give me would be immensely helpful. Sorry if this seems a bit dense!!

Easy to learn about it.

Term life cover means it pays out if you die during the term. Simple.

You choose the term - 20 years, etc.

Typically, you would choose a term until children grown up.

Amount of cover: fixed or indexing.

Fixed/level is simple, e.g. 200,000 fixed for the 20 years.

Indexing means the cover will rise each year, e.g. by 5%, but the premium will also rise.

There are other options, but that's the gist of it.

Term life cover is cheap, as it's unlikely you'll die.

Get a quote here, he's a discount broker:

www.labrokers.ie

Geuze

Female non-smoker born 1990

200,000 cover for 25 years

Annual premium = 130 with Friends First.