That was my thoughts surely you never benefit but your family does when you die.
The downfall of the Tory party.
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Back in the day, I remember my parents having a Prudential life insurance policy (Or "The Pru" as it was known). The fella used to come round every month and collect the money. This was in the 70s.
It worked like a savings plan. If you died, it paid out, if you didn't, you got a chunk of your money back.
Never heard of this type of policy for years.
EDIT: The wife just tells me she had one that she cashed out in 2006. Who knew!
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My parents are from the UK they tell me they had all manner of insurance and the insurance man used to come around on a bike. When they married they took out a life insurance at so many shillings a week. They were going to cash it in before they left the UK but it was worth about 3,500 GBP so they kept it when he retired he got just over 80,000 GBP, the English pension which wasn't much and the Australian pension. Prudential Insurance is the company.I assume this is more of an Aussie thing than in the UK, I like the sound of it but I have never heard of a life insurance policy over here that pays out if you don't die
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I looked up the insurance policy, they are called life endowment life policies. Superannuation is modeled on those policies, your life is covered and at the age of 65 the policy reaches maturity and a lump sum is paid out.
I didn't know that and assume the majority back then had never heard of them, i was discussing the subject with SWMBO and she seems to remember having to take out life insurance when we got the mortgage.
Yes
only ever knew of policy that covers for term of the mortgage no payout at end. at 47 bit late for any new policy now haha
My first mortgage was an endownment and there was a life policy that sat side by side.
Changed 4 years later to a repayment and forgot all about it. My ex-wife and I divorced and noticed that our endowment, although not being paid, was still growing so we cashed that in. Some years later, we then found out that we'd not only been mis-sold the life policy but also the PPI that sat on the side of it which would always have been invalid as my ex-wife had chronic Chrons disease amongst other things.
But I don't think that life policy was one that paid out, unlike my parents one mentioned above.
This thread has taken a turn hasn't it
I couldn't listen to him for 30 minutes so here is the summary -
- Rishi Sunak says "the next few years will be some of the most dangerous yet most transformational our country has ever known"
- In a 30-minute speech in London, he says "more will change in the next five years than in the last 30"
- Sunak also takes aim at Labour - saying only the Conservatives are "talking about the future"
- And the PM says Keir Starmer "has gone from endorsing Jeremy Corbyn to Natalie Elphicke," in what he calls a "cynical" bid for power
- Also today, the Labour leader will hold roundtable talks with mayors about improving regional growth if Labour wins power
- The Labour leader will portray the choice as being between "a changed Labour Party… or more chaos and decline under the Tories"
bit rich when the underspend on defence happened on his parties watch, yes the last labour govt were not great either tbh but you can't deny the tory record on defence spending used to be strong not now they dropped the ball
Ignore the video description watch the video, the sooner we get rid of this waste of space the better
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What an absolute waste of space.
He's not cutting through then?
Fair enough I have never heard of anything like that, I had to take out insurance when I got my first mortgage but as far as I know that was just to cover the mortgage amount if I died
When my wifes mum died in 2019 we found a few of these policys going back to the fiftys 60s and 70s, was quite a tidy sum
Now over to the leader of the Liberal Democrats, who has also just given a response to Rishi Sunak's address from earlier this morning.
Ed Davey says the prime minister should stop "talking at people" and listen, by "calling a general election".
"Families are fed up with NHS failures, sewage scandals, and inaction on the cost of living crisis", he writes in a post on X, formerly known as Twitter.
"This Conservative Government is out of touch and running out of road."
Reuters Copyright: Reuters
Ed Davey says the prime minister should stop "talking at people" and listen, by "calling a general election".
"Families are fed up with NHS failures, sewage scandals, and inaction on the cost of living crisis", he writes in a post on X, formerly known as Twitter.
"This Conservative Government is out of touch and running out of road."
Reuters Copyright: Reuters
Labour MP says Sunak has 'forfeited the right to talk about security'
We're now getting some fresh reaction from Labour on Rishi Sunak's recent speech.Shadow cabinet minister Jonathan Ashworth begins by echoing what Sir Keir Starmer said a bit earlier, by first accusing Sunak of having his "seventh reset in 18 months".
It's "just another desperate attempt to hide from the appalling record of this failed Tory Government", Ashworth says.
He goes on to say the Tories have "forfeited the right to talk about security", claiming 14 years of a Conservative-led government has left the country "less secure," both at home and abroad.
Northern Ireland have just given a big 2 fingers to the UKG by not allowing the Rwanda bill to be enacted in NI
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