Life insurance/critical illness cover

jenny_f

Myself and my husband have some life insurance and critical illness cover from when we bought our first house in 2011.

We moved to a new house earlier this year and need to sort out the life insurance and critical illness cover again.

We are in the lucky position where either of us could lose our job and the other could pay the mortgage. We'd have less disposable income but we could pay the mortgage.

He has a death in service cover at work, as do I - again meaning we would get some money from this.

We are therefore mainly wanting critical illness cover with a bit of life insurance cover. I am struggling to find places that let you have more illness cover than life insurance.

Can anyone help or have any suggestions?

dunstonh

He has a death in service cover at work, as do I - again meaning we would get some money from this.

The purpose of death in service is to give some short term payment for loss of income or go some way to reduce the lost pension benefit. If you start using DIS for debt provision then you could be leaving yourself on retirement provision.

We are therefore mainly wanting critical illness cover with a bit of life insurance cover.

The cost difference of CIC only and CIC with life assurance is usually pennies. So, it would likely be false economy to not include it to the full amount. Plus, you are likely understating your life assurance needs by the sounds of it.

I am struggling to find places that let you have more illness cover than life insurance.

Virtually all providers allow it. Although whether it is possible with online quote portals, I do not know. It is certainly possible with the IFA versions.