Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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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.
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Conway563
Member
Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
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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
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
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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 
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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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]
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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can't remember if life cover was compulsory with my mortgage. will have to have a look through my files.
cheers.
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John
Member
Registered: 30th Jun 03
User status: Offline
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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).
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Hammer
Member
Registered: 11th Feb 04
User status: Offline
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Take it and do not cancel it.
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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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
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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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
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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I gots it, they asked lots of personal questions.... like: do you have aids?
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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They asked me that and have you ever had an STD check
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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If you say yes to the STD check it increases your premium.
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Terry12
Member
Registered: 24th Sep 07
Location: Manchester
User status: Offline
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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.
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Jake
Member
Registered: 24th Jan 05
User status: Offline
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i wouldnt trust your misses at all ben g
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Carl
Member
Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
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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.
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John
Member
Registered: 30th Jun 03
User status: Offline
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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.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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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 
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ShEp
Member
Registered: 9th Aug 05
Location: Dingwall, Highland
User status: Offline
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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
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John
Member
Registered: 30th Jun 03
User status: Offline
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Any health problems?
I'm covered for 3 times that for the same price.
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Chris
Premium Member
Registered: 21st Sep 99
User status: Offline
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It mad if you work how much ur worth if she pushes you down the stairs.
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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3.5 times salary death cover through work pension scheme plus critical illness for up to 6 months follwoing SSP
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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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
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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And it's 'assurance'
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John
Member
Registered: 30th Jun 03
User status: Offline
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Mine is with friends provident (i was advised they were one of the better ones) and covers terminal illness 
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smcGSI16V
Member
Registered: 26th May 03
Location: Farnborough Drives: Thurlby 888 CDTi No.98
User status: Offline
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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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