Which type of insurance to get?!

sc1108

Apologies if this has already been covered...but struggling to work out which insurance to get as a single person ( no dependents) with a 23 year term mortgage?

Any pointers would be great as most of the articles are saying I don't need insurance!

Thanks

kingstreet

Income Protection/Permanent Health Insurance.

Pays a tax-free monthly benefit to replace your income due to illness or disability. Runs for mortgage term, or to retirement, your choice.

Tailor waiting period with employer sickness payments and you can reduce the premiums.

Weighty1

^Income protection would definitely be the number 1 choice.

Critical illness should not be totally discounted though. If for example you were paralysed and unable to work again it's great that the IP would pay you a regular income but a lump sum from a critical illness policy would come in very useful for adapting the home.