Critical Illness

jackie_w

Hi There,

Today hubbie and I went to see our advisor about life insurance to pay the mortgage if one of us dies. He also said we should seriously consider critical illness cover.
My husband is an engineer and does a little welding work, so, because welding is the "highest risk" occupation, they have to class him as a welder.

The premium they have quoted us for this is £156 per month. My husband is now having second thoughts about this, and Im not sure what I think.

Does anyone else have any thoughts/advice on the matter?


Jackie

BigDave_Cash_Saver

jackie_w wrote: »

Hi There,

Today hubbie and I went to see our advisor about life insurance to pay the mortgage if one of us dies. He also said we should seriously consider critical illness cover.
My husband is an engineer and does a little welding work, so, because welding is the "highest risk" occupation, they have to class him as a welder.

The premium they have quoted us for this is £156 per month. My husband is now having second thoughts about this, and Im not sure what I think.

Does anyone else have any thoughts/advice on the matter?


Jackie

CIC can be a great product to have. If you need to claim you will be glad you paid the money. But make sure that the policy you purchase has good coverage and has no exclusions for your partner.

There is usually a part of the policy called "TPD" - Total Permanent Disability - that either gets excluded or "loaded" for manual workers. But get it if you can have it.

In terms of price - Shop around the comparison websites - but get advice - many companies do "non advice" which mean they can’t help...find one that can look and recommend in YOUR interests.