Life insurance

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  • Life insurance
  • clubber
    Member

    So, a bit morbid but the sad news about Messiah (I’m not much younger than him) has given me the kick I need to get things sorted out in case the worst ever happened – I certainly wouldn’t want money to be an issue for my wife/kids on top of everything else if I died.

    I have the fairly standard work life insurance and private life insurance to cover the mortgage but nothing else.

    So, what do you have in place, just in case?

    Premier Icon kcal
    Subscriber

    I had work insurance (death in service). Then got made redundant, ergo no insurance!!

    Life/death cover, joint with spouse. Not a huge amount but enough. Looked at sickness cover but (I suppose given increased risk / payout)it was hugely expensive and we didn’t go for that.

    Went to see a solicitor to get all that reviewed and sorted out alongside will (you do have a will, don’t you? — to my mind the most important thing). Also (very morbid) power of attorney again sorted jointly with spouse.

    clubber
    Member

    Yeah, will all in place.

    jekkyl
    Member

    Friends provident is far & away the best company to have a policy with. Consider taking out a level term policy, normally only very slightly more expensive than a decreasing term. Take out enough to cover the mortgage & a bit more to make things easier for you/your spouse in the event of death & a bit more again for funeral costs.

    b r
    Member

    Just get some death cover ASAP for you and your spouse, £100k or so – it’s cheap per month.

    And then sit down and work out insurance cover properly.

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