Thetownend.com

does anyone know anything about it?

before you say it I don't work in life insurance so haven't clue!

Yes, pm me if you want fella.  This, as sad as it sounds, is my subject (well, to a certain extent).

pm done! and my missus say's the townend is stupid!

I just cancelled mine as was about £104 a month, need a new one! Let me know how it goes GFM

£104 a month bloody hell even I know that is way to high my boss is insusered for a few million and his is only 30ish a month!

you have been mugged!

Hence why I quit, it was for a fair whack though and included critical illness. By teh way mate (saves an email) pics of the easter weekend on Lauras facebook thing

£104 a month! Fuck me what do you do in your spare time, skydive without a parachute?!

Birdy and I pay £45 a month for joint one with Norwich Union. Doesn't include critical illness, as that would have been nearer £200 but I don't smoke and I'm tee-total so didn't see the point.  :D

Is it to cover a mortgage Sussex, even with CI that sounds high (depending on sum assured).  CI's more important than Life cover imo, if you kick the bucket Birdy could always let Fatbury move in to pay the bills, if you get seriously ill, she'd have to fend for her self for a while whilst you chat up the nurses!!

Ha ha. Will be fun next week then!!!

It is to cover a mortgage, at the moment we're just looking to cover the basics and see where we are financially. We'll look into adding CI in the future but apparently (from advice from NU) that probably doesn't cover what I'm likely to die of anyway, ie Cancer. Need to look into it a bit more to be honest. Fatbury's welcome to rent the shed!

I don't have life insurance  :D

I don't think I do anyway  :?

Neither do i but if i get the job Im after then my employer will pay for it.

If your single (ie mortgage in your own name and live alone) I wouldnt bother with it as when your gone the house will get passed to Next of Kin I believe (probably wrong)

Maybe I should look into this.

I have insurance policies with Royal Mail if I die but not life insurance.

Maybe I should write a will now I own property.

Unless you're married with kids why would anyone need life insuranc? I might be missing the point.

 :shock: No no no no no!

Mortgage = first charge = house reposessed

No, your house gets sold then the mortgage company gets sorted, next of kin gets profit? This is why I have an accountant etc to sort these things so I dont worry, mine all goes to nephew (there wont be anything but if there was)

To cover a mortgage?

Yeah, fair point.

Fucking hell  :o

I'm with NU, mines £45 p.m. for joint life cover + CIC.

What questions do they ask you when you take out life insurance?

Is it the usual do you smoke? How much do you drink?

Absolutely everything about your health, basically anything you've ever been to see a doctor about.

And also your activities e.g. occupation, hobbies, hazardous pursuits, smoking habits, drinking habits etc.

I only got asked occupation and age. Thank fuck left it at that.  :D

Would i struggle to get it due to my job or would they be likely to rape the arse off me in monthly payments?

Think that explains my 104, the answer about evicting druggies waving needles  :D

DMR is right. Unless you have a long term partner and/or kids, there is no point in paying for it.

I don't smoke, drink socially on saturdays, i'm a postman and keep fit by running and cycling.

Mine should be quite low  8)

So if i died, what would happen?

Apart from they would get up on teh screen when entering Ralphy the post man:-

CUNT Double premium by order of management





(sorry couldnt resist)

Your next of kin will get your estate unless you make a will leaving it to specific people/charities.

Your estate will be your assets and your liabilities, but if it's a gift they should be thankful they're getting your house anyway, with or without the mortgage, unless they are of course dependent on living there.

No point me making a will then really cos i have nobody to leave anything to!

My estate will go to my sister and parents.

If you do not make a will then it's not a simple as saying your belongings will go to your sister and parents.  The laws of intestacy will come into play, effectively these laws will dictate who gets your estate.

The problem with this is it could take quite a while to sort this out and may drag on a while.  

I think it's always worth leaving instructions as you can be fairly sure that the people you want to receive specific items receive them (unless someone tries to contest the will).

As for your particular case Ralphy I'd imagine that the Royal Mail operate a occupational pension scheme that would include Death in Service, so if you should die your nominated beneficiaries (you probably would have done this when you joined the scheme) will receive somewhere in the region of 3 to 4 times your salary.

As for Sussex's life assurance adviser I'd sack him and get someone else.  A Critical Illness policy that does not pay out due to a "serious" cancer???  That would get crucified by the press, not sure if he's got his facts straight there mate.  Would at least be worth a second opinion.

Also if covering a capital repayment mortgage, it may be worth swapping to a decreasing term assurance plan as they are cheaper than the level protection products.

After a quick check Ralph in your situation through Intestacy your parents would take your estate, your sister would get nowt.  Of course should by the time you pass away your estate is worth more than the nil rate band, the treasury will have a bit of your estate via Inheritance Tax.

End of the day, its better to be protected than not.

Indeed and whilst life assurance may not be something you need if your young free and single, critical illness or income protection plans would defo be worthwhile.

If you have a mortgage, or rent to pay and you cannot work due to illness or because you're in hospital trying to recover from cancer, it'd be nice to know you're continuing to recieve your normal income or your mortgage has just been paid off.

Cheers mate for checking.

I think i'm gonna sort something out this year, just haven't got round to it.

You had to look it up? You should have remembered it from your FPC :nono:

I couldnt remember the order Sammo   :oops:

But it's CF1,2,3,4,5 nowadays, FPC is old skool!!

Jan, we've been led to believe that certain things (and the list is apparently growing) are not now being covered by critical illness, as I said I'll have to look into it.

After checking the plan conditions about what is covered by CI, I think I maybe wrong about the cancer thing as it says: Cancer - excluding less advanced cases.

Eh.  :?

I'm off for a fag.

Yeah whereas years ago you could get a "cancer" get it cleared up very quickly and the CI plan would pay out, nowadays companies only pay for "serious" cases of cancer, that's where it's important to check the policy t's & c's.

Same with heart attacks, some mild heart attacks would not mean a pay out, more serious attacks would.  It's there to protect people who are seriously affected by the condition they have suffered.

Can I do reverse Life assurance? So that I pay like £50 a month and everyday I don't die they pay out?

I might just plump for a coma, seems much more straightforward.

Coma does seem quite relaxing.

I do a life insurance, £5 a month. But I live at home and stuff.  It's more for, that if I die, the funeral bill and stuff wont be left for my family to pay.

I've got a will mainly deals with how I want to be disposed off. Bascily involes me being cermated. Then all my mates etc travelling to a certain beach in wales which is where my mums ashes are scattered,  having a beach party before my ash's are put into the sea to be back with my mum. the rest is all bullshit about my easte and where it should go etc

They may throw in the odd one about how you get from a to b, ie Bescot to Birmingham International without knowing!!  Seriously, you should make a will if you have anything of real value, ie house or car, so that your family have as little grief as possible in disposing of everything.  Also your wishes should be made known how you wish to be disposed of in the event of your demise.

I hate legal stuff.  :(

I fought the law and the law won

When did the country start calling this life insurance, as opposed to life assurance?

Surely it must be assurance, as we will all die...it is assured.

Maybe the insurance/assurance industry know something I don't...

It got Americanised. Although Zurich are still known as Zurich Assurance.

Apparently when you ring up for life insurance every question you answer they double, so if you said you had two packets of fags a week they'd write down that your had 4 because they assume everyone is lying!

On that basis what's the point of doubling it? It would all be relative if everyone lied and they doubled what you said.

That's complete and utter bollocks. A life assurance contract is based on the principle of utmost good faith, a provider takes for granted that the information somebody provides is true and accurate and would have no reason to doubt it.

If it's found out at a later date that an applicant did lie then the contract becomes void (ab initio).

Mine is with Direct Line and I am sure it is called Life Assurance.

As I also have my motor, contents and pet insurance with them and my wife also has her motor insurance and life assurance we get decent discounts. Mine covers our mortgage as well as other debts we had when I took it out and has critical illness cover and it is only £19 a month.

That's stupid.  (Not your post, Sam, obviously).  You cannot insure against the inevitable.

So what if you say you don't smoke at all ?