Confused about Mortgage Protection

esme_m84

Hi

I am trying to save a bit of money while on mat leave so looking into my mortgage protection. Husband and I spend about £48 pm on MP products. We have Life assurance cover for £23 pm and critical illness for £24 pm. I could really do with that extra money a month so I guess what I'm asking is if I really need both or whether I should temporarily stop the critical illness cover while on mat leave? Alternatively would it be better to look elsewhere for cheaper cover? Or dump both products in favour of a life insurance policy?(I don't really know the difference between life insurance and life assurance???) HELP!:(

TIA

dunstonh

o I guess what I'm asking is if I really need both or whether I should temporarily stop the critical illness cover while on mat leave?

Statistically, you are more likely to claim on the critical illness.

I don't really know the difference between life insurance and life assurance???

Assurance is used to cover something that will happen. Insurance is used to cover something that may happen or has restrictions that may lead to it not paying out if that event occurs. Assurance is used in the UK. Insurance is used in the US. Some providers have dumbed down to use insurance when it should be assurance.