I sometimes wonder am I /us over-insured?
On top of health/motor/house insurance, there are the following policies:
I realise it is a subjective question, and it depends on attitudes to risk. My wife is a SAHP.
I welcome any comments.
On top of health/motor/house insurance, there are the following policies:
- Death-in-service Benefit as part of DB pension = 1x to 1.5x salary
- Optional extra Death Benefit, arranged by employer, for 2.5x salary, premium is 0.36% gross, so 0.216% net
- Income protection, arranged by employer, premium is 0.86% gross, so 0.516% net after tax relief
- Life policy on wife, was 100 euro for 100k over 25 years, has indexed over maybe five years to 147 pa
- MPP2 on house mortgage
- MPP1 on previous house, now sold, kept MPP as cheap at 100pa, original 20yr mortgage taken out in 2005, so cover will have declined a lot by now
I realise it is a subjective question, and it depends on attitudes to risk. My wife is a SAHP.
I welcome any comments.