very confused!!

wilson_lfc

hi all,

i am very confused and i know that i am paying way to much for insurances.

i have read all the articals on this site, some have helped and some have confused me even more.

can someone help me by explaining, from the info below; what exactly have i been insured on?? the jargon and the different names is what is confuseing me most!!

i will also put the amount im paying on there as well to see what you think!

Abbey - mortgage protection plan -

me - (decreasing life cover only on £179,000) = £43.10
im a smoker, with blood pressure!! (im doomed)

partner - (decreasing critical illness with free life cover) = £38.10 on the same amount, she doesnt smoke!!


Abbey - payment care - accident / sickness

me - 70% = £723.80
her - 30% = £310.20
pays out for twelve months - excess 28 days??

this cost £33.69

thats a wopping £114.89 a month!!! :mad:

not including my building and contents which i understand :j

can anyone help please??

thanks

wilss

JC383

In simple terms the mortgage protection plan will pay your mortgage off if you die or your partner dies or get a critical illness.

The payment care will payout the figures quoted per month should you have a long term sickness or accident and you are unable to work in the case of your policy for longer than 28 days. This will payout for up to 12 months.

We found however that the company that we work for actually paid sick leave at full pay for up to 6 months and then half pay for a further 6 months so we decided that it wasn't neccessary to have this policy and cancelled it. This is obviously a gamble on our behalf but at the end of the day to be off work for 6 months at a time there would need to be something quite wrong with either one of us. It might be worth checking what your work pays for sick pay and if you decide to keep the policy get it adjusted so that you pay less.

I hope this helps

wilson_lfc

thats cool thanks!!

why do they call them so many different things!!!!! grrrr