Can anyone please help im bambozled with all this info!

KEATERGREYHOUND_2

Having looked at what we spend a month im suprised to see so much going out on life insurance and things like that. I think weve got something like 5 policies between my and hubby.
A little info about us neither of us smoke hubbies 30 and myself 25 and we have a daughter.
Our mortgage is £44k
I really think were over insured and its costing us quite a bit
I guess what were after if that if one of us dies the house is paid off and a small sum of about 100k is left for the living person to live on
We dont need unemplyment cover but do need critical illness cover
Can anyone please tell me what i need to look for to buy policy wise and also what online companies offer good value for money
Thanks in advance

dunstonh

I really think were over insured and its costing us quite a bit

I have never met anyone who has been over insured. Some are top heavy in certain areas but overall its rare.

I guess what were after if that if one of us dies the house is paid off and a small sum of about 100k is left for the living person to live on

£100k would pay around £5k a year income. How much are you each earning? Could you afford a drop in income from your current levels to 5k?

Can anyone please tell me what i need to look for to buy policy wise and also what online companies offer good value for money

You either need:
pension term assurance
level term assurance
pension decreasing term assurance
decreasing term assurance
family income benefit
critical illness cover as a standalone or built into the life policies
or PHI in place of critical illness cover

Most likely a combination of some of the above would be the most suitable option.

What, when, why and how would depend on your circumstances.

ArchieB_2

You can't expect to be able to sort all of this out yourself so I would speak to an IFA. If you have one use them, if you have friends who could recommend somebody they have used then use them, alternatively look on https://www.unbiased.co.uk.

I work in the industry but I would still go to an IFA as they have access to the best products as a rule and they are the ones with the expertise.

Wrote that post before Dunston had posted so...