cavendish online....complicated to do online....

Deals_2

I am trying to get online quotes for cavendish online but i find this very complicated to complete. what are the differences between term/mortgage protection/family income benefit?
premium driven /benefit driven? i think an easy to understand plain english questionnaire would be really useful.

when something happens such as ill health first and then later one dies from something else does for example the life insurance company just give one payout?
which one should one really go for?

"Death benefit only – this policy will only payout upon death (usually including Terminal Illness cover*)
Critical Illness only – this policy will only payout upon diagnosis of a specified Critical Illness
Death or Earlier Critical Illness – this policy would payout on the earlier of death or diagnosis of a specified Critical Illness. Once a successful claim is made the policy will cease."

i have a young toddler and already hold a policy with norwich union but i need to increase the amount i am covered for and maybe look into options for my partner who is not covered.

dunstonh

what are the differences between term/mortgage protection/family income benefit?

They are 3 of the approx 15 different types of life protection that are available. They are the most common types that fall under protection classification (and not investment classification).

term assurance is protection taken out for a specific term. This can then be available in level term basis (same sum assured over the whole term) or decreasing term assurance (where sum assured reduces over the period to zero at the end).

Mortgage protection could mean a number of things as its more of a marketing term and a generic term. In life cover terms, I expect it is referring to decreasing term assurance.

Family income benefit is generically the cheapest option but pays out income instead of lump sum on death.

i think an easy to understand plain english questionnaire would be really useful.

You could suggest it to Cavendish.

when something happens such as ill health first and then later one dies from something else does for example the life insurance company just give one payout?

Depends on the options you choose. Both ways are possible. Some providers will only do it one way. Some other both.

which one should one really go for?

Thats a personal decision rather than one of advice. However, I would suggest you go with the option that fits the need.

Other things you need to be aware of is that same of the quotes will be yearly renewable premiums, others reviewable or guaranteed. So, make sure you are comparing like for like. Also, where critical illness cover is included, you get budget or comprehensive cover and the providers will have different levels of cover within that. i.e. one provider may have 13 core conditions and 10 satellite conditions cover and another may have 15 core conditions and 9 satellite conditions covered. So again, make sure you know what the provider covers matches you needs.

If you are not married, you may also require the lif cover to be written in trust to prevent 40% it going in inheritance tax.

Buick_Lewish

The site is not easy to use but all the information is there. There is a help guide at the opening page and at the end in the corner. Each 'help' explains a part. I know, it would be easier to have it at one place.

However, once you are familiair with the information it does give you the option to easily try out different options without entering all the same data again.