LIFE INSURANCE UK: Should you get Term vs Whole Life Insurance? Is life insurance worth it? Can you take money out of your life insurance? What life insurance providers should you choose? I answer all these questions and so much more. Enjoy 😀
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MARY:
I'm married to Ken and we have two boys aged 8 and 6. I'm a Londoner, born in Hackney! :)
Day to day, I run the operations of The Humble Penny as a creative - doing everything from marketing to video editing. I studied Multi-media design and technology at Uni.
When I'm not creating, I love vegan food, traveling, working out, and doing some outdoor fun things with my husband and kids :)
KEN:
I'm a husband to Mary and daddy first and foremost.
Former CFO by day with over 12 years of experience in the investment business. I'm a Chartered Accountant and hold an MBA from Cambridge University.
To explore my creativity, I'm a blogger, KZfaqr, speaker, etc. I create from my experiences as a family man and First Generation Immigrant.
I have a passion for all things Personal Finance, Business, and Personal Development. I also love Photography, Music, Travel, and Sport.
We became Financially Independent aged 34 and our story has been featured on the BBC, ITV, Financial Times, The Sunday Times, etc.
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★★ TIME STAMPS ★★
0:00 - Intro
1:05 - Why I Made This Video
2:21 - Life Insurance Dilemmas From Our Community
5:07 - What Is Life Insurance?
5:41 - Term vs Whole Life Insurance
8:01 - Exclusions from Term & Whole Life Insurance
8:51 - What About Critical Illness Cover?
10:47 - What Does Life Insurance Cost?
11:56 - Do You Need Life Insurance?
13:30 - Why We Got Life Insurance
14:12 - Individual vs Joint Policies
15:08 - How Much Life Insurance Cover Should You Get?
16:05 - How Many Years Should You Get Life Insurance For?
18:39 - Life Insurance Providers To Consider
21:43 - Life Insurance As A Wealth Creation Tool
22:30 - Why Getting Life Insurance Early Matters
22:51 - Why The Provider You Choose Matters
24:27 - Why You Should Put Your Life Insurance In a Trust
25:29 - 2023 Q&A UPDATES
25:35 - Can You Take Money Out (or Borrow) From a Life Insurance To Invest Elsewhere?
28:48 - Should You Get a Separate Policy From One In Your Job?
30:27 - Should You Get Indexation Policies With Rising Premiums?
31:38 - What Happens At The End of Term Life Insurance?
33:03 - What We've Changed In Our Life Insurance In 2023
35:21 - Conclusion
Best, Ken and Mary
#lifeinsurance #lifeinsuranceuk #financialwellbeing
★★ WHAT THIS VIDEO IS ABOUT★★
The Complete Guide to LIFE INSURANCE UK 2023 | Term vs Whole Life