Help! Still unsure what type of insurance to get?

slowfish6873

Hi

Still unsure what types of insurance we need.

My wife and I both work (reasonably secure jobs), have no children and our only debt is a £110k mortgage. Not a great amount of savings, just an emergency fund. Both in our late 30's.

Would appreciate some advice on what types of assurance/insurance cover we should have - level term, critical illness, income protection ???

Cheers
slowfish

dunstonh

These are the following that you may need (in no particular order):

Level term assurance
whole of life assurance
family income benefit
decreasing term assurance
permanent health insurance
Accident, sickness and unemployment
critical illness cover
buildings and contents and insurance
car insurance
private medial insurance.

Some of those may not apply or variations or options within them may make alternatives better but that list will do for starters.

slowfish6873

Hi

Thanks for the list. I know there are all these products on offer but I assume we don't really need all of them. I was just looking for some advice on what the best ones to have are.

Cheers
slowfish

dunstonh

Need and want are two different things.

We dont know your circumstances so cannot eliminate options. What is best for one person may be totally wrong for another.

slowfish6873

I appreciate everyone's situation is different. I guess I was hoping to get the typical types of product that a couple in our situation might have.