Life Insurance Policy

How do I get a Life Insurance Policy in the UK that pays me a bonus at the end of the term if I don’t claim?
I want a new Joint Life Insurance Policy as we’re moving home, but instead of the usual life and critical illness (the latter part of which I’m told rarely pays out anyway), I’d like a life insurance policy that will pay me on maturity, i.e. at the end of the term. My inlaws are forever getting sums of money for Insurance Policies they took out years ago, but I can’t find out where to get one. I need at least £100,000 Of Life Insurance for at least 20 years as it has to cover my mortgage if one of us dies. Am I looking for an endowment policy? How do I get one without finding a financial advisor?
Yes you would be looking for an endowment policy if you want a bonus at the end. However, be warned they are expensive and do not pay back as much as you think or are promised, hence all the problems over mis-selling of such policies. Also, they do not cover critical illness generally only life and injury. You would be better off with a basic life and critical illness policy coupled with a savings account for long term regular savings – one that you have to pay into for a set period of time. Most banks offer these savings plans and are willing to pay extra interest if you take out a current account with them too.
Life Insurance Facts : How to Cash in a Life Insurance Policy From Work
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