Hi All,
I have had a life insurance policy as a single man (no dependants)for the past 13 yrs. ita a whole of life, SIC €61,000, hospital cash €96 per day and PAB €381 costing me €90 pm.
Over the past few years my situation has changed and now I have a beautiful wife and son to consider also. I would like to take out a new policy or replace my existing one with something that will look after my family were something to happen to one of us.
We are both 40yrs old, working with about 40k take home per year, a 140k mortgage (tracker-yippee!!!). The mortgage is covered by a seperate policy. We have approx €80k in savings and I have a company pension. We have no other loans.
I got a quote for dual life cover of €100k each, accidental death of €100k each, critical illness of €60k each, hospital cash €100 and Personal accident of €381 all for a premium of €120 pm.
My first question is if the figures in this quote are suitable to my situation, I have seen other posters getting life cover of €300-€400k is this where I should be aiming at??
I read a post reciently where a person was getting dual life of €300k, SIC of €75k over 30 years costing €103 pm.
Also looking at what I have been paying for my past cover I am wondering if I was being shafted by my provider and also my broker (who tells me each year its good value!!)
I have had a life insurance policy as a single man (no dependants)for the past 13 yrs. ita a whole of life, SIC €61,000, hospital cash €96 per day and PAB €381 costing me €90 pm.
Over the past few years my situation has changed and now I have a beautiful wife and son to consider also. I would like to take out a new policy or replace my existing one with something that will look after my family were something to happen to one of us.
We are both 40yrs old, working with about 40k take home per year, a 140k mortgage (tracker-yippee!!!). The mortgage is covered by a seperate policy. We have approx €80k in savings and I have a company pension. We have no other loans.
I got a quote for dual life cover of €100k each, accidental death of €100k each, critical illness of €60k each, hospital cash €100 and Personal accident of €381 all for a premium of €120 pm.
My first question is if the figures in this quote are suitable to my situation, I have seen other posters getting life cover of €300-€400k is this where I should be aiming at??
I read a post reciently where a person was getting dual life of €300k, SIC of €75k over 30 years costing €103 pm.
Also looking at what I have been paying for my past cover I am wondering if I was being shafted by my provider and also my broker (who tells me each year its good value!!)