Life cover/Serious Illness

S

Simba2

Guest
Taking out life cover for first time as HB self employed and not available at my work. Have 2 dependants and own one property that is rented and mortgage on home and some savings. Have mortgage protection. Have just started income protection.
What level is adequate for Life cover - broker suggests salary x4 but we reckon we can survive on x 2. (half the premium) and invest some other money.

He has suggested Serious illness but we think it's alot of money i.e. life cover & si for circa 160 per month- worse case we will own 2 properties and can sell one/ downsize....then I'm thinking is that enough !!
Any advice?
 
Currently in process of taking out life dual life assurance for me & HB as I don't have it at work and he is self employed. Just wondering how do you assess what adequate cover is? Is the guide salary x4. we have 2 young dependants

We have 2 properties one owned and rented and the other our home with mortgage proection and some savings. Was thinking circa 250k cover each as would have additional property to sell. We can opt for serious illness addition to it but this increases premium bt about €50 per month (total €130). We also have just started income protection and have pension contributions so it seems alot going out. Have private health insurance so just wondering is it overdoing it with the SI? Any comments
 
You must log in or register to reply here.
Back
Top