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We want 250,000 cover until retirement, but should we look for increasing benefit to increase inline with inflation, and is this likely to put our premiums up significantly (which we wouldn't be able to afford)
ALso, I looked online through here and did a quote myself and it was £13 a month cheaper than that of a financial advisor, I know that it was a one off fee which will make a small difference - but why so different?
Can anyone help or have any recommendations?
The other thing that never seems to get mentioned are the benefits that would ensue due to single parent status etc or obviously somebody else comes into your partners life who would then takeover some of the "slack". Therefore understanding "how much" would be needed is harder than it seems.
With all this in mind £100k I'm sure is more than enough.
If memory serves me correctly it was goig to be about £60 a month when I saw a broker but looking at friends and best buy tables they don't pay anywhere near that. More like £10 per month.
ds1980 wrote: »
Anyway I'll have a look around for non ifa products.
Typical ifa response and as unhelpful as was to be expected
Of course it's not assumed but it will happen and sooner rather than later.
However I disagree it's them who you need to think of. The surviving parent is surely the person who is going to have to provide etc?
Anyway when you say £5k a year is this based on annuity rates?
Anyway I'll have a look around for non ifa products. Ta
Are all cancers considered equal?
I'm really worried this terrible luck will scupper our plans for life insurance and potentially a mortgage when we come to it.
dunstonh wrote: »
There are insurers that take on high risk cases and consideration for cancer has a lot to do with timescale since the diagnosis and what happens afterwards. Typically though you are talking in terms of 5-10 years rather than 1 year for the mainstream providers. The high risk providers look at it (and price it) differently.
As each case would be looked at individually, it would be difficult to say what the decisions would be. Plus, as mentioned, the insurance companies will not all act the same way.
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