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Advice re Insurance
dwats02
Posts: 1 Newbie
Hi
Recently took out 2 policies for decreasing life and critical illness cover for my husband and I following advice from IFA. They are for the sum of £215,000 each over 20 yrs. We are paying £155.75 for my policy and £ 34.81 for my husbands per month which seems excessive after I have spoken to others. We have also checked the paperwork and the and the IFA gets £100 per month for 2 years then it reduces. Clearly we are paying a large amount of commision. While we would prefer to pay less we do want to ensure we are adequately covered. we have also put it in trust. Grateful for any advice.
Thankks
Recently took out 2 policies for decreasing life and critical illness cover for my husband and I following advice from IFA. They are for the sum of £215,000 each over 20 yrs. We are paying £155.75 for my policy and £ 34.81 for my husbands per month which seems excessive after I have spoken to others. We have also checked the paperwork and the and the IFA gets £100 per month for 2 years then it reduces. Clearly we are paying a large amount of commision. While we would prefer to pay less we do want to ensure we are adequately covered. we have also put it in trust. Grateful for any advice.
Thankks
0
Comments
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Ask your IFA whether there is another policy which would be more appropriate, taking both costs and benefits into account.
Check also whether you would owe him a fee should you cancel this policy.0 -
Also, as you say it is a decreasing life policy, check the rate of decrease and final amount of cover i.e. it may be £215k cover now but what will it decrease to over the 20 years?All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.0
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