I am 59 and my wife is 57. We have no mortgage and our children are adults. At present I am paying a premium of €1,530 which covers both of us for around €100,000. The premium is being increased next year to just under €2,000. There is a small savings element with the policy, but as I drew on it some years ago it's a negligible component now. I am not working now and I am living off a lump sum until I collect my pension next year. My wife doesn't work either.
I have three questions:
1) Would this premium be regarded as excessive?
2) Given our age and circumstances, is this level of cover necessary at all?
3) Could anyone recommend a better policy.
I have three questions:
1) Would this premium be regarded as excessive?
2) Given our age and circumstances, is this level of cover necessary at all?
3) Could anyone recommend a better policy.