life cover advice

ademcnic

Hi some advice please

im 32 - wife and 2yr old child - i have just found out i have no life cover i lapsed the policy in error -

i smoke but hope to quit, home owner, no medical issues etc. fairly fit so hope to be around for a few years yet.

Can one you advice on the best cover possible just incase the worst does happen have around 82,000 left on the morgage but hope to move in the next few years so this may increase.

would it be best to take a flat 25 year policy? Any help on this would be great.

Regards

Adrian

LisaT186

Need to think about whether you just want the mortgage paid off or whether you would want extra to provide for bills, food etc for your daughter as well. In regards to moving, most policies have a guaranteed insurability option to allow you to increase at standard rates on marriage, house move or birth/adoption.

Visit a few sites to obtain quotes and compare, plus contact your previous insurer and see what they can offer. You might be wise to have an appointment with a mortgage / insurance broker to talk about combining critical illness in the policy. Also then you could look at separate policies for mortgage and family cover (could work out cheaper than one policy trying to do all of it).

Whatever you do, please remember that the definition of a smoker in life assurance terms is 'someone who has not used tobacco products in the last 12 months' that also includes nicotine replacement products.

ademcnic

are there any good companies out there really looking to cover the morgage costs and a bit extra?

dunstonh

yes there are but they all target different segments of the market so the cheapest for one person could be the most expensive for another.

akingsail

Try https://www.moneysupermarket.com. Prices quoted however may not be what you end up paying as more factors have to be taken into account in the proposal form. However, its a good start as they check 100's of companies with one click. Hope that helps!