Life Assurance Needed?

scotgirl

We are due to move to our new house in May and with it comes a large increase in the mortgage!

I need to sort out some insurances. I have an existing policy for MPPI with pinnacle so I will extend that to cover accident, sickness and unemployment.

I discovered today that we have life assurance through work for 4 times my salary until I am 65 while still employed with the company, this would almost cover the total of the mortgage for my husband.

Does this mean that I would not need to take out life assurance at all for myself and does this mean I have everything covered if I have just my MPPI through pinnacle and my life assurance from work?

Thanks :money:

dunstonh

If you have no children or anyone who is dependent on your income then you can use the DIS if you feel it will still be there in years to come.

does this mean I have everything covered if I have just my MPPI through pinnacle

If you have 4x DIS then there is a good chance that your sickness benefits are likely to be quite good and the MPPI would be a waste of money. In which case a permanent health insurance may be the better option (it nearly always is anyway).