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  • FIRST POST
    • Zola.
    • By Zola. 7th Dec 17, 10:04 AM
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    Zola.
    Life Insurance Advice
    • #1
    • 7th Dec 17, 10:04 AM
    Life Insurance Advice 7th Dec 17 at 10:04 AM
    My wife and I took out life insurance a couple of years ago, we took it through a company called Friends Life, who are now owned by Aviva I believe. It covers Critical illness etc. We bought it at the time when we were getting our mortgage and didn't really shop around - got it via our broker who have other services in another department.

    Not that nice to think about.... but If I pop off, DW gets 100k, if she goes, 80k. We are both early in our 30s, fit and healthy etc.

    We pay around £75 per month. Just wondering is this in any way a good deal or should I be looking at other options? We are thinking of starting a family so I have a feeling this isn't a great figure.

    Goes without saying that we would want a reliable company who are trustworthy and have a good track record etc.

    Any advice is much appreciated.
Page 1
    • Weighty1
    • By Weighty1 7th Dec 17, 10:51 AM
    • 223 Posts
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    Weighty1
    • #2
    • 7th Dec 17, 10:51 AM
    • #2
    • 7th Dec 17, 10:51 AM
    Friends Life have a great critical illness policy! Whether the cover is appropriate and still fit for purpose depends on your circumstances. Is £75/month a good deal.......who knows? This is dependent on too many factors to be able to say without having the full details of your cover.

    Why not make contact with a independent adviser, either an IFA, mortgage broker or protection adviser who can discuss your circumstances and advise on the best options available to you? Personally, I'd recommend looking at long term income protection, simply because this is more comprehensive in relation to what you can claim for ie. what would happen if you suffered a long term sickness but it wasn't a listed critical illness? How would you be affected financially? Are you happy taking that risk?

    An adviser will be able to discuss various scenarios and come up with the solution best suited to you.
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