Help with mortgage cover....please!

cchatt

Hi, i have recently bought a house, and i was geting critical ilness cover for it, but when i had gone through the massive processes they quoted me £30 a month, which i cant afford of justify affording. However that means i now have a mortage with no cover if anything should happen to me. At present it is an interest only mortgage, what kind of cover can i take out that is affordable and would cover it if anything were to happen to me?

claire

dunstonh

Permanent health insurance (PHI) is the priority before critical illness (CI). However, the £30pm cost is relative to your age, amount and occupation.

If you cannot afford £30pm then I would be more concerned about your mortgage as the last .25% mortgage rate rise saw an increase of around £30 on the average mortgage. If budget is really that tight, then you really need to find ways to reduce it.

cchatt

Than you fior your reply....and ok...its not that i "can't" afford it, but ive read and heard that cover should be much less than that it seems awful high.
To be honest i know absoultey not a thing about what im doing - im new to the whole house -buying-mortgage getting thing and i dont really know what i need - can any one help me with what i need - just a policy that covers the ammount if i die or cant pay it?

claire - a little more confussed that previosly!!