Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
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Who are you with?
How much cover do you need?
How much are you paying?
We're paying £40 for the two of us for a mortgage of £105k over 25 years and it doesn't go down as we go along 
Sure our financial advisor fleeced us!!
So I think im going to cancel and go with someone else.
Currently with Aviva!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Dont have any - If I loose my job, i'll get another, if I die I wont be needing a house.
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corsa120
Member
Registered: 4th May 02
Location: Northamptonshire
User status: Offline
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easy to say but i do agree.
end of the day life insurance will pay the mortgage for you partner well mine does if i die... if you hate your partner dont have it lol
[Edited on 05-01-2010 by corsa120]
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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If I die my partner wont need a big house & can sell it & downsize.
Im not into all this insurance for everything......I buy the minimum I can to stay legal & cover what I need.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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I don't have any either, if I die it's not my problem and if I lose my job I'll look for another. I would soon find something if it meant losing the house.
Will be different when I have kids. I personally would cancel that and put the £40 towards overpaying.
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a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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i have mine to cover both mortgages for the initial mortgage amount approx £150k
think it is around £12 pm iirc
mine is just if i die it will pay out which means partner and daughter wont have to worry about a mortgage and will have 2 houses to set them up
dont plan on dying any time soon but better to be safe than sorry especially when children are involved
wouldnt want them to struglle should i die
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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I think we were told we had to take it for us to get the mortgage, may be because we're buying through a shared ownership scheme tho. Could also be our advisor screwing us over as that's how they make their money and he's always come across as a complete cock.
We've got Zurich at £29 a month for both of us, 1/2 the mortgage is cleared in result of death/serious injury. That's on a *ahem* 40 yr mortgage or £123k
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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I have redundancy cover at £12 a month. If i die, it's not my problem. None of my family give a shit about me so why should i leave them a flat..
If i had a kid then it would be another story.
If i become ill i'll sell up and get free rent.
[Edited on 06-01-2010 by Andrew]
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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i don't have an acual policy, however if i die then he mrs will get money from my employer which is around £160k - £180k which will clear the mortgage
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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I'm only doing it because I have a little one. Think it's about £20 PM with the Halifax
Corsa 2.0 16v Vegas - Sold
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ENB
Member
Registered: 24th Apr 06
User status: Offline
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We just renewed, we were paying £32 for the two of us, now it's around £8 each
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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Me 26
Missus 22
Liverpool & Victoria - £27 per month.
Policy:
Life insurance & Critical Illness cover + Policy Wavier If im Ill.
That also includes cover for me working abroad which put it up a couple of quid.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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I'd check the key features of all these cheap policys, the definitions are VERY strict and you may be paying for something that if you ever need won't pay out and double check it if you have CI cover.
I know a company that definitions are second to none 
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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OJC - Out of interest do you work for an insurance company?
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Assurance
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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Ah ok, I work for MMA.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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On Vastern Road?
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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Yep next to Thames Water
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Carl
Member
Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
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quote:
Originally posted by Cavey
I think we were told we had to take it for us to get the mortgage, may be because we're buying through a shared ownership scheme tho. Could also be our advisor screwing us over as that's how they make their money and he's always come across as a complete cock.
We've got Zurich at £29 a month for both of us, 1/2 the mortgage is cleared in result of death/serious injury. That's on a *ahem* 40 yr mortgage or £123k
You aren't being screwed over, the people we know going through the same scheme have to have it as well.
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Tommy
Member
Registered: 24th Aug 00
Location: Essex, Colchester
User status: Offline
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Me and my Mrs have life insurance and critical illness cover. £103,000 is more than payed off if one of us croaks it and the critical illness pays the mortgage if were off work for a prolonged period.
IMO if your co-habating you need some sort of cover so you dont leave your other half in the shit.
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Chris
Premium Member
Registered: 21st Sep 99
User status: Offline
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Life cover YES
Payment cover NO
If you lose you job as pointed out get another one, the bank doesnt take the house after 1 missed payment.
Worse case after 6 months the goverment will pay intrest on the loan if you are made redundent.
Put the £480 towards a holiday.
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