Life & Critical Illness Insurance - few questions and provider options

Wutang_2

C.breezy wrote: »

Quit Smoking!!Premiums will plummet!

Although its cool to smoke - I would rather pay more and be street.

m4sonsmum

Hi

I am just in the process of re mortgaging our home ( which we had no mortgage on) to buy an investment property cash for our pension fund.

I'm 37 and my husband is 41 ,i work for the NHS so have a pension and get sick pay etc, my husband has always been self empolyed (builder) so has no holiday pay & no pension for later life this is why we decided to do this now,

We had an independant financial advisor who was recommended to us to sort our mortgage out, he has also asked us about taking our Life & Critical ilness cover, he mentioned the company was Friends Life (who i had not heard of before).

Reading your posts has made me think twice and now really dont know what to do,
we already have joint life insurance policys one level term and one decreasing term which we have had a few years, my husband also has an income protection plan and a plan that pays out for accidents / injuries that dont allow him to work.

We have never chose Critical illness cover before because we know of a few instances where people have not been paid out and the policy is always more £ per month.

I always think cover is the best for peace of mind, my husband thinks we are covered enough with what we have already in place and if god forbid anything were to happen to either of us we can sell the 2nd home we are buying and repay our mortgage off.

Can you deal with Friends Life direct to get an idea of cover / prices or do yuo have to go through a broker ?

Thanks

dunstonh

We have never chose Critical illness cover before because we know of a few instances where people have not been paid out and the policy is always more £ per month.

I have been advising on it for nearly 20 years and have never known a case where they havent paid out. CI policies have a pay out rate of over 90% on claims. So, the fact you know of a few instances where they havent paid out is statistically unusual.

Can you deal with Friends Life direct to get an idea of cover / prices or do yuo have to go through a broker ?

FL dont deal direct.