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What insurance required?
scottish_lass
Posts: 62 Forumite
Just bought first house have £143000 mortgage over 25 years. We have 2 teenagers what type of insurance do we need. Tried to read a few posts but confused with the different types of insurance available. We have 2 endowment policies (yes I know they are hopeless but have kept them on) they are for £30000 each pay out is in 4yrs and 18years time. any help appreciated.
0
Comments
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What you need depends on your circumstances.
It is likely to be a selection from
Level term assurance
Family income benefit
decreasing term assurance
(the above would ideally be on guranteed and not reviewable basis and with Critical illness cover to a certain extent)
Permanent Health Insurance
PPI or MPPI
It isnt really possible to say what combination of these is needed as that will depend on your circumstances. That list is not exhaustive either. There are other plans that could be appropriate but cant say from what you have typed.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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