omg please someone help with what insurance to get...

gabyjane

im going mad here and have given up the will to live with all the different choices on offer.
Ok we are just about to buy a shared ownership house 40% when we look at the mortgage protection it asks for the monthly payment, not sure if we can add the rent bit onto that? also do we both need to do this?

Then there is life cover for us both joint or single?...

income protection...how much? im self employed so cant really do it for that as unlikely to be completely out of work (childminder) but am employed aswell... partner has a full time job aswell so he will deffo need it but if i dont we dont know how much to get?

illness etc i dont get any from being self employed but if i have docs note i can use at work, no other cover tho, partners going to speak to work but nothing at mo..

As you can tell not sure what we do/don't need and baffled by it all...can anyone help a bit, thankyou.

dunstonh

Sounds like life cover and permanent health insurance are the two main areas of need here.

gabyjane

dunstonh wrote: »

Sounds like life cover and permanent health insurance are the two main areas of need here.

hi thanks for the reply! if we need help with the mrotgage does the health one cover this? any good reccomendations?
Also life cover we are trying to sort now so will see what we come up with!

dunstonh

if we need help with the mrotgage does the health one cover this?

Mortgage is one thing, income protection is another. They are all standalone plans whether they are called accident, sickness and unemployment, mortgage payment protection or permanent health insurance. The marketing is aimed at mortgages on some of the plans but not others but at the end of the day, they are varieties of income protection.

any good reccomendations?

Its a regulated product so recommendations are not allowed. However, there are generally three levels of cover (budget, standard and comprehensive) and you can adjust cover, term and deferment period to suit. Sometimes mixing and matching an MPPI and PHI can result in the best option.