Lifestyle Insurance - Worth It?

world4

I saw a leaflet in my Post Office for "Lifestyle Insurance".

For £32.40 a month I can get £720 a month for cover the below outgoings if I am unable to work due to an accident, sickness or unemployment. If I die during the period of cover then 12 times the monthly amount will be paid to a nominated representative.

credit card bills
personal loan
mortgage/rent
store card bills
car finance
utility bills
food bills
mobile and fixed phone bills
TV licence
digital TV subscription
council tax.

I rent my property privately and have a few credit, store cards and also pay Council Tax, Monthly mobile contract, Sky and BT contracts.

Any views on the value of this plan or any alternatives out there?

Cheers


Nige

lisyloo

I would certainly check what your employer offers first.
A lot of employers have death benefits and a sick pay scheme.
Some have a PHI scheme (for long term sickness when the sick pay runs out).

dunstonh

At £32.40, you probably are not too far off getting a proper income protection policy like permanent health insurance.

I guess with the PO losing all its traditional services it has to come up with new cash cows to replace them.