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Life Insurance - What do I do?
Twins
Posts: 346 Forumite
Hi everyone,
I'm pretty new here and was wondering if someone can help me.
My husband and I have a life insurance that we took when we took out our mortgage. The bank told us we had to have it and arranged it for us.
Well I pay £161 for the both of us per month and my husband is a smoker.
Do you think this is about the right amount to be paying or too much?
We need to reduce some costs somewhere and this is one of our higher outgoings.
What do I do about getting another one? How do I arrange this? Sorry if this sounds silly but I just don't know where to begin.
Thank you!!!!
I'm pretty new here and was wondering if someone can help me.
My husband and I have a life insurance that we took when we took out our mortgage. The bank told us we had to have it and arranged it for us.
Well I pay £161 for the both of us per month and my husband is a smoker.
Do you think this is about the right amount to be paying or too much?
We need to reduce some costs somewhere and this is one of our higher outgoings.
What do I do about getting another one? How do I arrange this? Sorry if this sounds silly but I just don't know where to begin.
Thank you!!!!
0
Comments
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Do you think this is about the right amount to be paying or too much?
Bank products are the most expensive typically so you will be paying over the odds. However, we know nothing about the policy or you so cannot say how uncompetitive it is. Its damned expensive for a 20 year old but if you are in your 50s and are smokers with average health and have a number of options bolted in to that premium (such as income protection and critical illness) then it could be cheap.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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