Life insurance quote good deal

Frank

Registered User
Messages
1,835
Hi all

I just wanted to run this by a few of the financial guru's

A financial advisor came round to the house.

Currently my partner I have a mortgage with protection but no other insurance I have a death in service from work.

Advisor offered
Main points
€100000 term for both
35000 for me and 46000 for missus whole of life
Hospital €300 per night
A&E €50 each time
Recuperation €400 per month if off work

All for 19 per week per person. Basically €2000 per year

I am 38 my OH is 33
 
It makes no sense to be paying a premium for A&E which will probably happen once a year.

People who claim on these policies often find that their particular illness is excluded.

Stick the €2,000 a year in a savings account and you will have the money if you live.

You mortgage protection policy covers your spouse if one of you dies.


Brendan
 
1. What do you want from insurance?
You have mortgage covered , so survivor has free home.
You have cover from your work, so do you need more cover.
Does your spouse need cover, has she other income ,over and above what your work insurance covers?
 
I'd cut out all the frilly bits and get basic life cover only if that is your main priority. What's the bit about whole of life? Is your premium going to stay a fixed amount or is it subject to reviews as if it is it will probably get too expensive to maintain and you won't ever benefit from that supposed perk.
 
Life cover replaces lost income. How much income do you want replaced if you die? Will €100,000 provide that for you?

Why do you need €46,000 on your wife for the rest of her life? Do you have to continue paying that premium for the rest of your life too?

Hospital €300 per night
A&E €50 each time
Recuperation €400 per month if off work

How much does this frills cost you? Do you need €300 a night if in hospital? How long will they pay for?
How long will the recuperation benefit pay for? Is it tax free?


Steven
www.bluewaterfp.ie
 
Thanks for the feedback

The rest of life cover stays the same price all life, the all of life would require continued payment.
I am not sure why I need it but I suppose there would be enough for OH to get over my demise and give me a good send off.

The quote wasn't broken down so don't know about how much frills are costing.

Good point about monies for hospital being taxable I must find out.
 
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