Life insurance help

City_harbour

Am I allowed to ask for help from financial advisor to guide and source life insurance. All you guys know your stuff an wouldn't
Know where to begin.

Many thanks.

InsideInsurance

This site doesnt allow soliciting for business and so none of the reputable guys on here will offer to do business.

You need to speak to a protection specialist IFA or protection broker, they are easy enough to find and you can find some of the people from here via google without too much trouble.

ACG

An Independent Financial Advisor will have access to everyone.
A Financial Advisor and Mortgage Advisor will most likely have access to a panel of providers.
A bank will usually have access to one provider only and they usually charge more for the privilege!

But all of those routes will be able to help with your protection requirements.

City_harbour

Not sure how to find these guys though google.

ACG

Google isnt a bad place to start, i also use a site called freeindex.co.uk - you can read reviews on there (but take them with a pinch of salt as you never know whether its a friend or family member of theirs that has left the review).

City_harbour

Goodness, I don't feel any further forward - but many thanks.

bigmatt1174

I used to be an adviser but no longer, but still within the industry, and fully qualified - I am not going to recommend an adviser but can happily give you ideas, which I am sure others on here will, which will then arm you once you do find the appropriate adviser to use.

A good place to start to find an adviser is family and friends who have used one - what is their experience?

My first question would be - why do you believe you need life cover? What is your situation? If you give us a little more info we may be able to offer some ideas?

I hope this isn't breaking any of the MSE forum rules??

City_harbour

Have interest only mortgage really need to address it.
Thought life insurance /. critical illness would be best option for my family.

kingstreet

You need to make plans for repaying your mortgage at the end of the term, as well as if you die or get a critical illness.

City_harbour

Just really want to get insurance sorted soon which would incorporate
If anything happened the mortgage would be paid off. I am sure premiums would be high for 59 year old and smoker.

kingstreet

For level life and critical illness cover, the premiums would be more like "enormous".

For example, the typical cost of £100k cover for 10 years for a 60NB male smoker is £320 to £370 per month.

Pro-rata that for your mortgage amount and make an allowance for the longer/shorter term to approximate the cost to you.