microsquid
Registered User
- Messages
- 68
Hello AAMers,
I did a search for this as I couldn't believe it hadn't been asked before, but it appears not on AAM (all these other financial websites, but I have somewhat less faith in them).
Synopsis: We have been extraordinarily fortunate via a tracker mortgage to pay our house off early. I had previously organised Mortgage Protection Insurance on the reducing balance from Irish Life via Tesco, and this policy will continue to run for another 8 years. I'm thinking of cancelling it as with the reducing balance it will pay out less and less anyway. It's a sole life policy as I would be the larger loaf earner.
We have 2 children, one only 9 months old.
Both DH and I have Death-in-service benefit from our employers to the tune of three years salary each. We are both non-smokers and under 40, with no other loans (extremely fortunate indeed).
We are not public-sector and will likely not stay with our employers forever (I've been there 12yrs, DH 6, both quite happy to stay for a long while more but nothing lasts forever.) Should we get cheaper life cover now before we turn 40 or is it a mugs game as it seems pay-outs get ever harder to get and more conditions are excluded?
We also both have health insurance paid for by our employers.
I am extremely unlikely to get Serious Illness cover as I had cancer as a child (fortunately completely cured and no return) so is it worth getting anything else?
I was at a Baby Fair and spoke briefly to an Unison adviser and he was taking about Life insurance for the kids to cover funeral costs - do people in Ireland get this cover?? He was also talking about the benefits of them being able to flip it on maturity and maintain cheap cover, again I'm not sure if this is sales talk.
Apologies if this rambles about a bit - ask questions if I've been unclear.
I did a search for this as I couldn't believe it hadn't been asked before, but it appears not on AAM (all these other financial websites, but I have somewhat less faith in them).
Synopsis: We have been extraordinarily fortunate via a tracker mortgage to pay our house off early. I had previously organised Mortgage Protection Insurance on the reducing balance from Irish Life via Tesco, and this policy will continue to run for another 8 years. I'm thinking of cancelling it as with the reducing balance it will pay out less and less anyway. It's a sole life policy as I would be the larger loaf earner.
We have 2 children, one only 9 months old.
Both DH and I have Death-in-service benefit from our employers to the tune of three years salary each. We are both non-smokers and under 40, with no other loans (extremely fortunate indeed).
We are not public-sector and will likely not stay with our employers forever (I've been there 12yrs, DH 6, both quite happy to stay for a long while more but nothing lasts forever.) Should we get cheaper life cover now before we turn 40 or is it a mugs game as it seems pay-outs get ever harder to get and more conditions are excluded?
We also both have health insurance paid for by our employers.
I am extremely unlikely to get Serious Illness cover as I had cancer as a child (fortunately completely cured and no return) so is it worth getting anything else?
I was at a Baby Fair and spoke briefly to an Unison adviser and he was taking about Life insurance for the kids to cover funeral costs - do people in Ireland get this cover?? He was also talking about the benefits of them being able to flip it on maturity and maintain cheap cover, again I'm not sure if this is sales talk.
Apologies if this rambles about a bit - ask questions if I've been unclear.