Life and critical life insurance

Guest101

crowy68 wrote: »

Its £70 a month we have been quoted, so not really a few quid, but understand what your saying

£70 a month?!

Without being funny, that menas your a high risk... either job, lifestyle or both.

pinkteapot

Critical illnesss etc is a lot more expensive than life assurance.

Cheapest option is to get decreasing term life assurance, which decreases in payout value over time in line with your mortgage. Ie it's designed to pay off the remaining balance on a repayment mortgage. This type of cover is dirt cheap and often worth having.

One tip - get quotes for two single policies as well as joint. For us, having separate policies was the same price as a joint one. Why two? Well, if we both die in an accident then both policies will pay out. Joint policies only pay out for the first death. So if we both go then we're paying the same amount per month for a double payout. That way the mortgage could be paid off and there'd be a lump of cash.

We haven't bothered with any form of income protection, mortgage repayment protection, critical illness, etc.

kingstreet

MissUngercover wrote: »

I'm reading up on this blog because I'm trying to get some sort of income protection cover: I'm single, bought a house, no relatives nearby - so just thinking that if something happens I would like peace of mind (and cover). Would be grateful if someone on here could point me in the right direction. Thanks!

Permanent Health Insurance is the best quality cover.

This is a product best bought with advice.

An IFA or protection specialist not tied to one provider would be your best option as you then have the run of the mainstream providers and those with specialist niche offerings which may result in better cover with increased chances of a successful claim.

Conrad

Careful, some advisers tie you into a fee contract meaning the insurance cancellation will lead to you owning them a fee. Yes you are within your rights to cancel an insurance contract, but this does not mean the adviser wont have a contract covering their loss of income should you cancel.


Your relative can guarantee to pay your mortgage off? What if you do something they disagree with, marry someone they take a dislike to? What if you die but your relative decided he does not want to pay off the mortgage as he dislike's your spouse / child?


What if you are in a coma and at the same time your relative gets dementia?


What if the relative goes into care, meets a young stunner and the new partner has other ideas about the money?


Many what if's.

michal88

hello everyone, I just registered here to speak with you all here about any covers like accident protection, life and critical protection and also about income protection with personal sick cover. If anyone is interested to speak about and make some recommendations?

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We've had number of life and critical policies through aviva after searching market and using broker. We've found them to be good. Have never looked into income protection