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Life insurance - what to do!
brokeinbristol
Posts: 136 Forumite
Hi everyone,
Myself and my wife need to renew our like insurance. we used to have a sum which was on a decreasing term which just covered the mortgage nut this is now unsuitable and we would like to take out a more comprehensive policy.
We have two children and we would like the insurance policy to pay off any debts (mortgage, we have no other debt) and to leave a sum for the children (or guardian of the children just in case we pop off early). I have just assumed that the figure of 10x our salaries plus the outstanding mortgage figure would be appropriate. However I think that this is a simplistic way of assessing our insurance needs.
Can anyone recommend an independent financial advisor in the bristol area? (preferably cheap!) beacause i'm confused!:rotfl:
Myself and my wife need to renew our like insurance. we used to have a sum which was on a decreasing term which just covered the mortgage nut this is now unsuitable and we would like to take out a more comprehensive policy.
We have two children and we would like the insurance policy to pay off any debts (mortgage, we have no other debt) and to leave a sum for the children (or guardian of the children just in case we pop off early). I have just assumed that the figure of 10x our salaries plus the outstanding mortgage figure would be appropriate. However I think that this is a simplistic way of assessing our insurance needs.
Can anyone recommend an independent financial advisor in the bristol area? (preferably cheap!) beacause i'm confused!:rotfl:
0
Comments
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There are a number of different ways of working out how much cover to have, a lot varies on what you want from your policy if it has to pay out.
Most mortgage/financial advisors will do this for you without a fee. Commission will be paid from the insurer and this will pay for the advice your receiving.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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