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  • FIRST POST
    • twitterpated
    • By twitterpated 1st Feb 18, 11:10 PM
    • 27Posts
    • 9Thanks
    twitterpated
    Life Insurance. Very confused and need advice!
    • #1
    • 1st Feb 18, 11:10 PM
    Life Insurance. Very confused and need advice! 1st Feb 18 at 11:10 PM
    Hi all

    Iím currently searching for life Insurance for my fianc!e and I. Im 27 and he is 26, both non smokers. Things Iím struggling with are where to look, what type of cover we need, how much to cover, the length of the policy (how many years) and will it be the one policy forever?
    Basically I need cover in case one of us gets ill/dies so that we can cover the mortgage and bills. We have no dependents.

    Iíve tried reading Martinís guide but Iím lost. It seems to be completely different to other insurance. I may appear to be a bit (very) clueless (thick) but Iím trying my best as Iím having a hard time at the moment and my head is all over the place.

    Iíd be really grateful for any help at all. Thank you in advance.
Page 1
    • dunstonh
    • By dunstonh 1st Feb 18, 11:43 PM
    • 92,193 Posts
    • 59,354 Thanks
    dunstonh
    • #2
    • 1st Feb 18, 11:43 PM
    • #2
    • 1st Feb 18, 11:43 PM
    I!!!8217;ve tried reading Martin!!!8217;s guide but I!!!8217;m lost. It seems to be completely different to other insurance.
    The UK has around 13 different types of life assurance. However, only 4 are really in the mainstream nowadays.

    Basically I need cover in case one of us gets ill/dies so that we can cover the mortgage and bills. We have no dependents.

    That isnt just life assurance you need then. it is also permanent health insurance (PHI). The best form of income protection.

    If your mortgage broker was whole of market for mortgages AND insurance then they may be a good place to ask.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • YHM
    • By YHM 3rd Feb 18, 4:16 PM
    • 506 Posts
    • 189 Thanks
    YHM
    • #3
    • 3rd Feb 18, 4:16 PM
    • #3
    • 3rd Feb 18, 4:16 PM
    You need to find a good insurance broker that will guide you through the maze that can be financial protection!
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
    • Nicola83
    • By Nicola83 4th Feb 18, 4:43 PM
    • 42 Posts
    • 29 Thanks
    Nicola83
    • #4
    • 4th Feb 18, 4:43 PM
    • #4
    • 4th Feb 18, 4:43 PM
    Our mortgage adviser has helped us sort ours out, she found life assurance, both for our mortgage and help to buy equity loan,sickness protection and critical illness cover. She's took all the stress away from us, especially as my boyfriend is a type 1 diabetic so he got declined on our first illustration she found, but she's working on finding someone else to cover him, so hopefully she'll succeed.
    • Weighty1
    • By Weighty1 5th Feb 18, 12:39 PM
    • 292 Posts
    • 114 Thanks
    Weighty1
    • #5
    • 5th Feb 18, 12:39 PM
    • #5
    • 5th Feb 18, 12:39 PM
    Our mortgage adviser has helped us sort ours out, she found life assurance, both for our mortgage and help to buy equity loan,sickness protection and critical illness cover. She's took all the stress away from us, especially as my boyfriend is a type 1 diabetic so he got declined on our first illustration she found, but she's working on finding someone else to cover him, so hopefully she'll succeed.
    Originally posted by Nicola83
    Unfortunately, I think your mortgage adviser will hit a blank in respect of critical illness insurance. She should be able to source sickness protection but this would likely be short-term income protection, not long term income protection. With the short term income protection just make sure the recommendation is one which doesn't always exclude pre-existing conditions as it means you boyfriend won't ever be able to claim for anything diabetes related.

    Insurance simply won't offer critical illness cover or long term income protection to diabetic due to all the complications which can arise from the condition. I'm stating this as a T1 diabetic myself.
    • YHM
    • By YHM 5th Feb 18, 2:09 PM
    • 506 Posts
    • 189 Thanks
    YHM
    • #6
    • 5th Feb 18, 2:09 PM
    • #6
    • 5th Feb 18, 2:09 PM
    Unfortunately, I think your mortgage adviser will hit a blank in respect of critical illness insurance. She should be able to source sickness protection but this would likely be short-term income protection, not long term income protection. With the short term income protection just make sure the recommendation is one which doesn't always exclude pre-existing conditions as it means you boyfriend won't ever be able to claim for anything diabetes related.

    Insurance simply won't offer critical illness cover or long term income protection to diabetic due to all the complications which can arise from the condition. I'm stating this as a T1 diabetic myself.
    Originally posted by Weighty1
    Factually incorrect. I know of a couple of insurers that could provide both CIC and Income Protection to T1 diabetics, if the condition is well controlled....

    It wont be cheap and it is specialist, but it is available
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
    • G_M
    • By G_M 5th Feb 18, 2:36 PM
    • 43,828 Posts
    • 51,807 Thanks
    G_M
    • #7
    • 5th Feb 18, 2:36 PM
    • #7
    • 5th Feb 18, 2:36 PM
    Good Afternoon,

    My name isxxxx and I work for a company called xxxx. This is something we will be able to help you with. You can send me an email xxxxxxI will get back in touch with you to discuss when you have a moment.

    We have access to the whole market and take in to account your health, occupation and lifestyle at quote stage.

    I look forward to speaking with you.

    Kind Regards

    xxxx
    Originally posted by xxxxxx
    Reorted.

    Touting for business is against forum rules.
    • Weighty1
    • By Weighty1 5th Feb 18, 3:07 PM
    • 292 Posts
    • 114 Thanks
    Weighty1
    • #8
    • 5th Feb 18, 3:07 PM
    • #8
    • 5th Feb 18, 3:07 PM
    Factually incorrect. I know of a couple of insurers that could provide both CIC and Income Protection to T1 diabetics, if the condition is well controlled....

    It wont be cheap and it is specialist, but it is available
    Originally posted by YHM
    Friends Prov used to offer both options to T1 and then Friends Life would do CI to T2 diabetics but if you know something I don't I'm all ears?

    In addition to this, when it did used to be offered by Friends Life they used to exclude ALL coronary claims, so heart attacks, coronary arty bypass grafts, stroke, open heart surgery, blindness, kidney failure, loss of a limb, paralysis of a limb, pancreatic cancer, so basically, an awful lot!
    Last edited by Weighty1; 05-02-2018 at 4:03 PM.
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