We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

FTB which insurances/assurances needed

fifi35 · 2024-02-02 11:42:59

Hi, my son and his partner are buying their first home. He is 29 and she is 30. Their first child is expected in September. The mortgage broker has advised Critical Illness Cover and Life Assurance Cover. This will take a huge monthly chunk from their monthly budget. I've just read up on Critical Illness and it only pays…

Comments

ACG Posts: 24,857 Forumite

3 February 2024 at 4:16PM

The easiest answer is to look at what you would want to happen if:
One/both died.
One/both were unable to work.
One/both were diagnosed with something serious.

Obviously you would want money in all of those situations, but that comes at a cost, so which are your priorities and how much would you want and how much are you prepared to pay.

There is no set answer, everyone is different.

I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
0