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Author life insurance.
Ben G
Member

Registered: 12th Jan 07
Location: Essex
User status: Offline
12th May 11 at 16:50   View User's Profile U2U Member Reply With Quote

how many of you have life cover?

i have it with my bank ever since i took out my mortgage but the other half gets 2 years salary if i die whilst in service anyway so is there any point having it?

it's 21 quid a month and i'm trying to sort out all my finances at the moment as they're all over the place.

pretty sure i got told i had to have it when i took the policy out also.
Conway563
Member

Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
12th May 11 at 17:04   View User's Profile U2U Member Reply With Quote

Should anything happen then the Mrs would get 4.5x salary from work. I've topped that up with another 1.5x which costs me about 33p (tax free) a month
Means she'd be able to buy somewhere mortgage free
Kathryn W
Member

Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
12th May 11 at 17:09   View User's Profile U2U Member Reply With Quote

We have it ( was compulsary taking out our mortgage) not sure what benefits we get regarding salaries but we both are covered for long term illness from work and the mortgage is paid of if either of us snuff it
AndyKent
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Registered: 3rd Sep 05
User status: Offline
12th May 11 at 17:42   View User's Profile U2U Member Reply With Quote

Mine wasn't compulsory. Whilst I have no financial dependants seems totally pointless.

Sure you could get it for vastly cheaper than 21 a month anyway.

edit, actually not totally pointless at all, but I couldn't see the value at the monthly payments they were talking.

[Edited on 12-05-2011 by AndyKent]
Ben G
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Registered: 12th Jan 07
Location: Essex
User status: Offline
12th May 11 at 18:37   View User's Profile U2U Member Reply With Quote

can't remember if life cover was compulsory with my mortgage. will have to have a look through my files.

cheers.
John
Member

Registered: 30th Jun 03
User status: Offline
12th May 11 at 19:38   View User's Profile U2U Member Reply With Quote

Life cover wasn't compulsory with my mortgage but I took it.

Was advised to take 2 separate policies for me and the gf because if it's a joint one you can only claim once.

About 24 a month each guaranteed (price doesn't ever go up).
Hammer
Member

Registered: 11th Feb 04
User status: Offline
12th May 11 at 22:24   View User's Profile U2U Member Reply With Quote

Take it and do not cancel it.
Cavey
Member

Registered: 11th Nov 02
Location: Derby
User status: Offline
13th May 11 at 11:54   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Kathryn W
We have it ( was compulsary taking out our mortgage) not sure what benefits we get regarding salaries but we both are covered for long term illness from work and the mortgage is paid of if either of us snuff it


That's the same as we got, pay 29 a month through Zurich. Had to get it as part of our mortgage
RichR
Premium Member

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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
13th May 11 at 12:00   View Garage View User's Profile U2U Member Reply With Quote

I don't have life cover but I do have critical illness cover which covers essentially pays me out 1500 a month if I am unable to work because of illness or accident. There's just me, I have no dependants so Life insurance would be pointless. If I am unable to work ever again for a medical reason, it also pays off my mortgage.

On top of that I have redundancy insurance which pays out 1500 for the length of time I'm out of work following being made redundant. Its expensive but being by myself it means peace of mind
adiohead
Member

Registered: 28th Sep 01
User status: Offline
13th May 11 at 12:08   View User's Profile U2U Member Reply With Quote

I gots it, they asked lots of personal questions.... like: do you have aids?
RichR
Premium Member

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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
13th May 11 at 13:12   View Garage View User's Profile U2U Member Reply With Quote

They asked me that and have you ever had an STD check
adiohead
Member

Registered: 28th Sep 01
User status: Offline
13th May 11 at 13:25   View User's Profile U2U Member Reply With Quote

If you say yes to the STD check it increases your premium.

Terry12
Member

Registered: 24th Sep 07
Location: Manchester
User status: Offline
14th May 11 at 16:30   View User's Profile U2U Member Reply With Quote

Me and the missus have a joint life cover. Sure it's around 12-14 per month and pays out a guarenteed 100k, Plus she'd get 2x my yearly salary from work.
Jake
Member

Registered: 24th Jan 05
User status: Offline
14th May 11 at 19:22   View User's Profile U2U Member Reply With Quote

i wouldnt trust your misses at all ben g
Carl
Member

Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
14th May 11 at 23:12   View User's Profile U2U Member Reply With Quote

I didn't bother, yet another insurance premium that will probably not get used. Our mortgage is only 321 so if I die i'm sure she will manage.
John
Member

Registered: 30th Jun 03
User status: Offline
14th May 11 at 23:34   View User's Profile U2U Member Reply With Quote

I thought about not taking it but at any point until the mortgage is paid, if either of us die or are critically I'll, the full mortgage amount now, is paid, potentially for both of us, leaving no worries about death, which from personal experience could happen before I get to bed tonight.
Ben G
Member

Registered: 12th Jan 07
Location: Essex
User status: Offline
15th May 11 at 15:29   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Jake
i wouldnt trust your misses at all ben g


the way i see it is if she fucks off and dies then i can afford to pay the mortgage myself.

if i die then she will get about 80k from my work and will probably sell the house and move back up to scotland anyway
ShEp
Member

Registered: 9th Aug 05
Location: Dingwall, Highland
User status: Offline
16th May 11 at 19:44   View User's Profile U2U Member Reply With Quote

Just got some today.

Pays out 60k to my next of kin if I die or become terminally ill.

Costs me about 6 a week. and lasts till I'm 65
John
Member

Registered: 30th Jun 03
User status: Offline
16th May 11 at 19:47   View User's Profile U2U Member Reply With Quote

Any health problems?

I'm covered for 3 times that for the same price.
Chris
Premium Member

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Registered: 21st Sep 99
User status: Offline
16th May 11 at 22:09   View Garage View User's Profile U2U Member Reply With Quote

It mad if you work how much ur worth if she pushes you down the stairs.
Robbo
Member

Registered: 6th Aug 02
Location: London
User status: Offline
17th May 11 at 13:36   View User's Profile U2U Member Reply With Quote

3.5 times salary death cover through work pension scheme plus critical illness for up to 6 months follwoing SSP
Ojc
Member

Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
17th May 11 at 16:21   View User's Profile U2U Member Reply With Quote

You lot need to check the definitions, you seem to be paying for really cheap cover which won't cover certain types of cancer etc and terminal illness, its very well having death cover but what if you got so ill you couldn't work?

Speak to Scottish Provident or Bright Grey
Ojc
Member

Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
17th May 11 at 16:21   View User's Profile U2U Member Reply With Quote

And it's 'assurance'
John
Member

Registered: 30th Jun 03
User status: Offline
17th May 11 at 17:12   View User's Profile U2U Member Reply With Quote

Mine is with friends provident (i was advised they were one of the better ones) and covers terminal illness
smcGSI16V
Member

Registered: 26th May 03
Location: Farnborough Drives: Thurlby 888 CDTi No.98
User status: Offline
17th May 11 at 17:36   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by John
Mine is with friends provident (i was advised they were one of the better ones) and covers terminal illness


same here.


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