Life insurance help!

So I'm 27, due in late November with my first child and have no idea what I'm doing when it comes to life insurance
I see ads on TV and social media all the time, but have no idea what makes a 'good policy' etc so would really appreciate some help with choosing one please!

Read more on Peanut

The views expressed in community are solely the opinions of participants, and do not reflect those of Peanut.

Learn more about our guidelines.

Add a comment

https://www.comparethemarket.com/life-insurance/content/different-types-of-life-insurance/?AFFCLIE=FG29&SRC=FG29&cmpid=PC-_-GOG-_-LI-_-GEN-_-chFC948Ju3Xrmr7&&&&&gbraid=0AAAAAD9KMP-lobxzk3-moS3cjbsdiyie7&gclid=EAIaIQobChMIxfaE_siBggMVAdvtCh0ttgVuEAAYAiAAEgL5KvD_BwE&gclsrc=aw.ds This might help- it’s good to know about the different policy options before you choose what kind of cover you want, and then compare insurance providers.

ah okay I had no idea! Thank you 😊

brill! Thank you

Look for DEFAQTO ratings ( you can check them on their website). 5* is the gold standard, and it is an independent check. You will need to decide whether you want a level or decreasing cover. Level means the same payout in 20 years as next month, decreasing is more for linking with a mortgage, and the payout decreases usually in line with payments. Also, yes, being pregnant pushes premiums up, but pregnancy and birth can be dangerous. Think about whether you would want to leave funds if the worst happened. Remember, you can always cancel it and get a new policy once your little one is born. Sorry for the info dump, but I hope it helps. Please feel free to reach out if you have any more questions.

thank you so much!

I have had life insurance since my sin was born. I went through a broker. They offer the best 1 based on my circumstances. I've been told mine should be reviewed as I'm not getting the best cover, but it can't be fixed atm as I'm still pregnant suffering with gd.

I have life insurance with Legal & General. My husband is with Aviva. Once you talk to a broker, you tell them how much your monthly budget is and how much payout you’d like.

In my case, other than life insurance, I also took a critical illness insurance and have a £50 monthly budget for both. The broker gave me options depending on my budget.

I have a LVE life insurance its for 300k and I pay 32 a month for it has chronic illness cover so if I get terminally ill they would pay out 50 to me. Also the amount doesn't go down is a fix pay out

Well done, and thank you, ladies, for having this convo. Thank you, @Hannah, for bringing up the topic. I work in banking, and so many people avoid this difficult conversation until its too late, and loved ones are left not only coping with loss, but also facing major financial difficulties at the worst point in their lives!! I truly hope none of you have to use it for a very, very long time💖💖💖💖

in our community

When our daughters are grown

Are we teaching them that circumcised boys are dirty and unclean?

You’re at the check out and notice the cashier gives you senior citizen discount. You’re very clearly under the cut off. Would you be excited for the extra savings or offended?

Turns out Monday morning at my Kroger and the lady slipped it in without saying anything. This has happened to my mom before and we were both obviously happy with a random discount but one of my sisters in law said she’d die if that happened to her because she’d be so embarrassed 😂

Something you’d never buy second hand?

What is something you’d never buy second hand and can’t believe people do. For me it’s clearly very worn shoes or mattresses🥴

Childcare Funding help

So my LO is under 2 and goes to nursery 2 full days a week. Me and husband both worked and got the 30 government funded hours. However my husband has recently lost his job of 8 years due to the company going under.

The worst part is he lost his job the day before I gave birth to our second child. So now I'm on rubbish maternity pay and he's got no earnings.

I'm wondering if we still entitled to any funded hours or not? I just don't want my LO to lose his place as obviously my husband is trying to get a job and when I go back to work we will need the childcare.

Has anyone been in this situation? Is there a grace period? Tyia!

Marriage struggles

Can someone who has had bad marriage problems before and gotten through it message me? I feel so alone in the situation I'm in and can't talk to my family about it and my unmarried friends are no help. Saying "just leave" is not helpful. If you can relate please comment so I can message you. I just really need either advice or just someone to talk to. Thanks 🩵

Has your child(ren) ever made an unauthorized purchase on one of your accounts?

I left my son to watch tv alone in my room while I switched the laundry over and not 2 minutes went by before I got a notification thanking me for a 1 year peacock subscription of $116.

Luckily Roku refunded me and I’ve since added a pin but now I know it really is that easy for kids to make quick and expensive purchase without us knowing.