Life Insurance. Very confused and need advice!

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Hi all

I’m currently searching for life Insurance for my fianc!e and I. Im 27 and he is 26, both non smokers. Things I’m struggling with are where to look, what type of cover we need, how much to cover, the length of the policy (how many years) and will it be the one policy forever?
Basically I need cover in case one of us gets ill/dies so that we can cover the mortgage and bills. We have no dependents.

I’ve tried reading Martin’s guide but I’m lost. It seems to be completely different to other insurance. I may appear to be a bit (very) clueless (thick) but I’m trying my best as I’m having a hard time at the moment and my head is all over the place.

I’d be really grateful for any help at all. Thank you in advance.

dunstonh

I’ve tried reading Martin’s guide but I’m lost. It seems to be completely different to other insurance.

The UK has around 13 different types of life assurance. However, only 4 are really in the mainstream nowadays.

Basically I need cover in case one of us gets ill/dies so that we can cover the mortgage and bills. We have no dependents.

That isnt just life assurance you need then. it is also permanent health insurance (PHI). The best form of income protection.

If your mortgage broker was whole of market for mortgages AND insurance then they may be a good place to ask.

YHM

You need to find a good insurance broker that will guide you through the maze that can be financial protection!

Nicola83

Our mortgage adviser has helped us sort ours out, she found life assurance, both for our mortgage and help to buy equity loan,sickness protection and critical illness cover. She's took all the stress away from us, especially as my boyfriend is a type 1 diabetic so he got declined on our first illustration she found, but she's working on finding someone else to cover him, so hopefully she'll succeed.

Weighty1

Nicola83 wrote: »

Our mortgage adviser has helped us sort ours out, she found life assurance, both for our mortgage and help to buy equity loan,sickness protection and critical illness cover. She's took all the stress away from us, especially as my boyfriend is a type 1 diabetic so he got declined on our first illustration she found, but she's working on finding someone else to cover him, so hopefully she'll succeed.

Unfortunately, I think your mortgage adviser will hit a blank in respect of critical illness insurance. She should be able to source sickness protection but this would likely be short-term income protection, not long term income protection. With the short term income protection just make sure the recommendation is one which doesn't always exclude pre-existing conditions as it means you boyfriend won't ever be able to claim for anything diabetes related.

Insurance simply won't offer critical illness cover or long term income protection to diabetic due to all the complications which can arise from the condition. I'm stating this as a T1 diabetic myself.

YHM

Weighty1 wrote: »

Unfortunately, I think your mortgage adviser will hit a blank in respect of critical illness insurance. She should be able to source sickness protection but this would likely be short-term income protection, not long term income protection. With the short term income protection just make sure the recommendation is one which doesn't always exclude pre-existing conditions as it means you boyfriend won't ever be able to claim for anything diabetes related.

Insurance simply won't offer critical illness cover or long term income protection to diabetic due to all the complications which can arise from the condition. I'm stating this as a T1 diabetic myself.

Factually incorrect. I know of a couple of insurers that could provide both CIC and Income Protection to T1 diabetics, if the condition is well controlled....

It wont be cheap and it is specialist, but it is available

G_M

xxxxxx wrote: »

Good Afternoon,

My name isxxxx and I work for a company called xxxx. This is something we will be able to help you with. You can send me an email xxxxxxI will get back in touch with you to discuss when you have a moment.

We have access to the whole market and take in to account your health, occupation and lifestyle at quote stage.

I look forward to speaking with you.

Kind Regards

xxxx

Reorted.

Touting for business is against forum rules.

Weighty1

YHM wrote: »

Factually incorrect. I know of a couple of insurers that could provide both CIC and Income Protection to T1 diabetics, if the condition is well controlled....

It wont be cheap and it is specialist, but it is available

Friends Prov used to offer both options to T1 and then Friends Life would do CI to T2 diabetics but if you know something I don't I'm all ears?

In addition to this, when it did used to be offered by Friends Life they used to exclude ALL coronary claims, so heart attacks, coronary arty bypass grafts, stroke, open heart surgery, blindness, kidney failure, loss of a limb, paralysis of a limb, pancreatic cancer, so basically, an awful lot!