Specified Illness cover

S

Strawberry

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Just taken out life assurance on first mortgage. Is the specified illness cover worth the extra expense? At moment my policy costs €155 per month??
 
Strawberry said:
Just taken out life assurance on first mortgage. Is the specified illness cover worth the extra expense? At moment my policy costs €155 per month??
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155 per month?! What are you covered for? Seems very expensive
 
No simple answer - What's your overall financial position? Do you have any disability cover through your employment?
 
I presume that the specified illness cover is costing you the €155 and not the mortgage protection policy?

Mortgage protection for the average first time buyer ( say a 28 year old single person borrowing €250k) should be around €200 a year.

Brendan
 
Why is specified illness cover not worth the expense?
I would have thought that having a lump sum payable on an illness, such as cancer or a heart complaint would be prudent.
 
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