mortgage - what are the necessities ?

kingstreet

mustang1 wrote: »

It's also worth checking out what might be included with your job. I'm lucky where I work as we have a death in service payment of 4 times annual salary. We also have cover for 6 months critical illness.

If I didn't have those, i'd definitely be going for the type of insurance kingstreet mentions.

And factor in the cost of paying for those yourself if you ever change jobs!

jamesd

mustang1 wrote: »

We also have cover for 6 months critical illness.

That's a really odd combination of months and critical illness.

Critical illness: pays out a lump sum when you're diagnose with one of the listed medical conditions. No time limits, just a chunk of money.

Perhaps you have some sore of ill health insurance cover that pays out for the first six months?

mustang1

jamesd wrote: »

That's a really odd combination of months and critical illness.

Critical illness: pays out a lump sum when you're diagnose with one of the listed medical conditions. No time limits, just a chunk of money.

Perhaps you have some sore of ill health insurance cover that pays out for the first six months?

Yes- sorry, I probably didn't word that very well. I would continue to get paid six months salary if I was off work with a critical illness. It's more of an enhanced sickness policy.