Life Insurance help

WifeofDJFLP

This has probably been asked millions of times before but can anyone help.

In August 2006 my partner and myself obtained a joint mortgage (£65000 over 20 years) from the Halifax, neither of us had life insurance so we arranged this at the same time, through the halifax. Thinking I was quite savvy when it came to such things i always intended to find a cheaper provider when the house was bought.

I have life insurance and critical illness cover, from the Halifax and it costs £17.97 a month

I am 31, a non smoker and I have no pre-existing conditions, I'm not in employment at the moment.

I have used cavendish online and think i have found a cheaper quote for the same thing but I have a lack of confidence when it comes to changing probably because of the fuss made by the Halifax when we were trying to obtain cover for my OH.

OH is 44, a non smoker and takes medication for high blood pressure

he has mortgage repayment cover (from Halifax) and it costs £32.32 a month

in order to get life cover for him the Halifax sent him to their financial advisor who sold hiom a policy that costs £42.49 a month

I am new to home-owning (well mortgage having) so like I say i don't have the same confidence i do about switching credit cards, hiome insurance etc so what advice can you give me?

If you got this far, well done!:T

WifeofDJFLP

dunstonh

when you rebroker life cover and there are pre-exisitng conditions which have affected the cover/premium on existing or past plans, then you have to declare these to any new insurer. It also means that you can expect similar or sometimes worse/better conditions/premium increase to occur on the new plan. Different providers react in different ways to medical conditions. So, when you look at quote portals for pricing, they assume class 1 occupation and no health issues.

Whereas life cover is fairly standardised across the board with a handful of features being different (such as guaranteed insurability for future increases etc), CI cover is quite a lot different between providers. It can come in reviewable and guaranteed premium form. It can come in budget and comprehensive cover and the number of core and satellite conditions covered varies betweens the providers. One of the most expensive CI providers also has the best cover so when looking in this area you need to compare like for like and need to make sure that you are not dropping the amount of cover to get a cheaper premium.

Beating Halifax will be easy as pie. I could beat them on full commission, let alone discount. However, dont be drawn into the cheapest quotes when CI is involved. Look at what is and isnt being covered.