Life how much cover do i really need? low income family with lots of other debts.

A

areweoutofit

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hi, we have a mortgage of EUR290,000 with about 32 yrs remaining on it. 1 salary into home of eur36000 gross, about eur 2130 nett per mth, 2 children under 3. what is the minimum i should look to cover. We are in mid 30's. I don't have any mortgage protection, just paying what i think is a very high life inusrance of eur108 per month at the minute. We are getting it very tight to get by each month as it is so lookign for the least we can pay but still have everyone covered. then can review in a few yrs when we get back on feet again. any feedback much appreciated.
 
Hi,
just had look at policy again and it's made up of €5 fee, €71.24 spec illness, €1.08 levy and €31.35 life cover. Its a joint cover €290000 life cover, and €144,111 accelerated spec illness cover. I guess we could do without the spec illness cover for now, we have no underlying med probs. So unclear with all this and what to do. when you speak with some of these insurers, they always put in the thought in your head, "oh what if this happened?"
 
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