Life insurance/mortgage protection.

sandman1969

Help! At the beginning of last year i bought my first house. Unfortunately i didn't take out insurance incase of illness or unemployment.

So i've decided i'd better do something about it before it's too late, but i haven't got a clue what to go for. Whether it be life assurance or just mortgage protection or both. Im rather confused. What do i do?

I've just got engaged, don't smoke and drink very little.

Ease my confusion please.
cheers, Rich

dogbot

www.unbiased.co.uk

Find a good, local IFA and ask for a consultation. They can talk to you about your attitute to risk, your lifestyle, employment income etc and explain all the different product options in full. They earn comission from the sale and are probably the cheapest or most efficient way of purchasing protetion policies you might want. Take a bit of time now to talk to an expert face to face to make sure there is less chance of surprises in the long run.

There are lots and lots of options out there so its good to get an overview. By way of example, my girlfiend and I are currently buying our first place. We intend to purchase life insurance and either critical illness or permanent health insurance (have yet to decide, am going to look tonight at the full detail!). We have been quoted about £15 each pm but our in our early 20's and non smokers.