Life insurance?

[jadavi]

Hi I wondered if anyone had this?
We're considering doing it for the first time - for the lump sum to cover the cost of funeral mainly. Our kids are adult and we don't need to set up an income but the only capital is our house which'd take maybe months to sell so they wouldn't have any money for the funerals and they don't have savings ( nor do we)
Can anyone recommend a good reliable one?

[stargazer1]

I've got life insurance with Tesco. Basically, we rent our home, have minimal savings, have two small children and got forbid should anything happen to either of us then we have made no real provision for the children. At least this way I know if something happened to me or my partner, the remaning spouse and the children will be well provided for. I cant say if Tesco are reliable as I'm not dead yet :laughing: but they were very helpful and informative of the options when setting it up.

[rickysmiths]

I've got life insurance with Tesco. Basically, we rent our home, have minimal savings, have two small children and got forbid should anything happen to either of us then we have made no real provision for the children. At least this way I know if something happened to me or my partner, the remaning spouse and the children will be well provided for. I cant say if Tesco are reliable as I'm not dead yet :laughing: but they were very helpful and informative of the options when setting it up.

The other important thing to do is have Wills drawn up for you and your partner especially if you are not married so you know what will happen to the children if something happens to one of you. It is not automatic that the children stay with the remaining parent if you are not married mad as that may sound.

We have just had this happen with a couple at church. Mum had sadly recently passed away, she had cancer. They have a 9yr old and mum's mum has gone for Care and Control and whisked the child hundreds of miles away. Dad has been left homeless because the flat was in mums name and her family have taken it and thrown him out. Because they weren't married and had no Wills there isn't a thing he can do about it.

I saw this happen to a college friend years ago as well. She mistakenly thought she was 'protected' because she was a Common Law Wife but of course there is no such status in Law and she ended up homeless even though she had paid the mortgage on their home for the five years they had lived in it, it was all in his name and his family kicked her out.

[kindredspirits]

we have life insurance with aviva - about £10 a month for £30,000 cover.

funerals these days are fairly expensive so make sure you are covered for at least £5000 - my MIL had a £1000 policy and that didn't cover anything!