Life Insurance

jayn_3

Hi
Your Opinion please
I'm currentky paying £33pm critical illness. I took this when my children were quite young as I was terrified of getting cancer. (I lost 3 close family members and 2 close friends to this within the space of 18 months!) However my children are now adults and long flown the nest. I'm 53

I start a new job next week, which gives me free life cover to the tune of £100k, more than enough to cover my mortgage debt, and most of my unsecured debt in the event of my death.

I am still however worried at the prospect of becoming terminally ill, and still having all this debt and no means of repaying it.

Your thoughts please

bottleofred

Hi Jayn,

The decision is really up to you. You need to decide if the 100k from your employer is enough really and also if the critical illness pays out in the event of you being diagnosed with a terminal illness, so that you can clear the debt with the money from it. You certainly sound as if your not sure about cancelling it, so maybe better to keep it going until you've made a definate decision.

Good luck with whatever you decide