Additional life cover for couple with dependants

M

mickaxe

Registered User
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37
Hello,

I'm looking for peoples thoughts on this: Myself and my wife have a 14 month old daughter. Currently we have decreasing term assurance on our mortgage - with an uncompetitive premium I might add (that's another story), and no mortgage repayment protection.

With the birth of a child your outlook on life changes considerably in terms of providing for him/her/them. I would like to know what people with children are doing in terms of additional life insurance/critical illness cover.

Your contributions are appeciated.......
 
Tough question.

Try and get a better rate of your mortage protection policy for starters if you can. Look at level or convertible term too as the value is better.

Beyond that the arrival of a dependent changes things. The untimely death of either of you would mean a financial hole appears which properly structured life assurance can plug, at reasonable cost.

I'd get proper advice from an Authorised Advisor if I was you.
 
Check to see if you have any life cover through an employer's pension scheme before you purchase more cover on the market.
 
mickaxe said:
Hello,

I'm looking for peoples thoughts on this: Myself and my wife have a 14 month old daughter. Currently we have decreasing term assurance on our mortgage - with an uncompetitive premium I might add (that's another story), and no mortgage repayment protection.

With the birth of a child your outlook on life changes considerably in terms of providing for him/her/them. I would like to know what people with children are doing in terms of additional life insurance/critical illness cover.

Your contributions are appeciated.......
Click to expand...
You maybe sorted by now but if not check out Life Companies web sites...they usually have a life and serious illness cover calculator.......this would guide you to a level of cover suitable to your circumstances.
 
hi there.. we got great separate cover.. nearly 700000 death benefit.. and over 100000 serious illness cover! between us!! for shoppin around and changing to a decreasing mortgage cover! the kids are well covered costs us bout 130 pm!! email me if this helps i can tell u more!!
 
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