AndyC Posted September 15, 2016 Share Posted September 15, 2016 depends how old you are though! Link to comment Share on other sites More sharing options...
MakemineVanilla Posted September 15, 2016 Share Posted September 15, 2016 2 hours ago, av1 said: Thanks for the advice mate. I did look into that but my partner earns very little, and she smokes. So i think a joint policy has more pros than cons. I got a couple of joint quotes yesterday and they were silly. As an example: I could ensure myself for 150k for £21pm. A joint policy at £27pm came back 31k. They don't like smokers. Wouldn't it be logical to insure the person the insurance company thinks is the most likely to die early? Link to comment Share on other sites More sharing options...
NurembergVillan Posted September 15, 2016 Moderator Share Posted September 15, 2016 Have a look at Vitality Life. Lots of perks for keeping fit, including reduced rates, free cinema tickets etc Link to comment Share on other sites More sharing options...
MakemineVanilla Posted September 16, 2016 Share Posted September 16, 2016 My own family meme about life insurance, is that people take it out when times are good, fail to keep up the payments when times are bad, and that is why insurance companies have such fabulous buildings. Link to comment Share on other sites More sharing options...
StanBalaban Posted September 17, 2016 Share Posted September 17, 2016 On 9/15/2016 at 23:41, av1 said: Thanks for the advice mate. I did look into that but my partner earns very little, and she smokes. So i think a joint policy has more pros than cons. I got a couple of joint quotes yesterday and they were silly. As an example: I could ensure myself for 150k for £21pm. A joint policy at £27pm came back 31k. They don't like smokers. Joint policies rarely represent good value. Better off with two separate policies for very little more. I run an insurance brokerage here in the UAE, and I can't recommend critical illness cover (CIC) highly enough. Sure it will cost you more, but that's simply down to the sad fact that we're more likely to make a claim in our working lifetime. If you have kids, it's still definitely worth insuring a low-income partner as, in the event of a critical illness or death, it allows you the financial freedom to take time away from work to look after the kids. Link to comment Share on other sites More sharing options...
Guest av1 Posted September 17, 2016 Share Posted September 17, 2016 Thanks for the advice Stan Link to comment Share on other sites More sharing options...
StanBalaban Posted September 17, 2016 Share Posted September 17, 2016 Just now, av1 said: Thanks for the advice Stan My pleasure. There can be a strange mindset when it comes to insurance. People don't think twice about insuring their cars, homes or possessions, but have a completely different attitude to insuring themselves. Perhaps some of it is having to deal with the issue of one's mortality. I've met many a person that's said to me that because they smoked, worked in stressful jobs and rarely exercised they wouldn't bother with life and critical illness cover because the insurance companies bump up the premiums - whilst completely failing to see that the reason the premiums are rated is purely due to the likelihood of them having to make a payout. You're completely right, insurance companies charge more for smokers because they're statistically more likely to need the policy. Good luck in the hunt. Whilst shopping around is a good thing, don't continue shopping at the expense of actually getting a policy under your belt. Feel free to fire any questions across and I'll do my best to give you more info if I can. Cheers. Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted November 30, 2020 Share Posted November 30, 2020 Bringing a thread back from the dead. Close to buying my first house and trying to arrange some cover (life insurance, critical illness and income protection) It's giving me a massive headache trying to get the best cover I can, but not being too expensive. Something I wish I did earlier in life as being 39 bumps up the premiums especially the critical illness side but only now at a point to buy a house its not something I considered at all. I've done online quotes, my mortgage advisor does protection too and also spoke to another financial advisor for a quote. In terms of the 2 advisors I've spoke to both sell the policies they have suggested very well and say there's is the best, but trying to decide which is actually best for me is frustrating. Link to comment Share on other sites More sharing options...
ml1dch Posted November 30, 2020 Share Posted November 30, 2020 7 minutes ago, AlwaysAVFC said: Bringing a thread back from the dead. Close to buying my first house and trying to arrange some cover (life insurance, critical illness and income protection) It's giving me a massive headache trying to get the best cover I can, but not being too expensive. Something I wish I did earlier in life as being 39 bumps up the premiums especially the critical illness side but only now at a point to buy a house its not something I considered at all. I've done online quotes, my mortgage advisor does protection too and also spoke to another financial advisor for a quote. In terms of the 2 advisors I've spoke to both sell the policies they have suggested very well and say there's is the best, but trying to decide which is actually best for me is frustrating. Who are the two providers and what's the price difference? Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted November 30, 2020 Share Posted November 30, 2020 (edited) 2 minutes ago, ml1dch said: Who are the two providers and what's the price difference? Royal London was about £10 per month more than Zurich Edited November 30, 2020 by AlwaysAVFC Link to comment Share on other sites More sharing options...
ml1dch Posted November 30, 2020 Share Posted November 30, 2020 5 minutes ago, AlwaysAVFC said: Royal London was about £10 per month more than Zurich Tricky. It's a better policy, but £10 better? Maybe, maybe not. Easy solution - go back to the one with the more expensive policy, ask him to outline the extra £10 "worth" of the RL one compared to Zurich. Once he's done that, if you think you've got £10 per month of extra value from it, then do it. If not, then go the other way. 1 Link to comment Share on other sites More sharing options...
Xela Posted November 30, 2020 Share Posted November 30, 2020 5 hours ago, AlwaysAVFC said: Bringing a thread back from the dead. Close to buying my first house and trying to arrange some cover (life insurance, critical illness and income protection) It's giving me a massive headache trying to get the best cover I can, but not being too expensive. Something I wish I did earlier in life as being 39 bumps up the premiums especially the critical illness side but only now at a point to buy a house its not something I considered at all. I've done online quotes, my mortgage advisor does protection too and also spoke to another financial advisor for a quote. In terms of the 2 advisors I've spoke to both sell the policies they have suggested very well and say there's is the best, but trying to decide which is actually best for me is frustrating. What is your situation? Married? Kids? Link to comment Share on other sites More sharing options...
Davkaus Posted November 30, 2020 Share Posted November 30, 2020 Have you checked your benefits at work? I might just have been lucky, but my last few employers have had it as an option. Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted November 30, 2020 Share Posted November 30, 2020 (edited) 3 hours ago, Xela said: What is your situation? Married? Kids? Married with 2 kids. The quotes were for life to cover mortgage plus extra for critical illness and income protection for us both. Edited November 30, 2020 by AlwaysAVFC Added a bit more Link to comment Share on other sites More sharing options...
AlwaysAVFC Posted November 30, 2020 Share Posted November 30, 2020 2 hours ago, Davkaus said: Have you checked your benefits at work? I might just have been lucky, but my last few employers have had it as an option. There is some extra bits I can get through work but would still be paying for it and not really sure what happens if I leave can I stick with policy? No immediate plans to but would like to start looking once things settle down a bit. If I have to look again say 5 years time I imagine it would be too much a month. Link to comment Share on other sites More sharing options...
Demitri_C Posted December 1, 2020 Share Posted December 1, 2020 Glad this thread has popped up. Im 38 and mrs 37 touch wood seem to be in good health. We rarely drink a d non smokers. Just bought a house and have been thinking about life insurance for a while. Dont even know where to start. Looking online so much info and its a lot of info to make sure you get the correct type for someone in my situation who has no kids. Is it worth getting now or when i have kids which will probably next year we start trying Link to comment Share on other sites More sharing options...
Xela Posted December 1, 2020 Share Posted December 1, 2020 1 hour ago, Demitri_C said: Glad this thread has popped up. Im 38 and mrs 37 touch wood seem to be in good health. We rarely drink a d non smokers. Just bought a house and have been thinking about life insurance for a while. Dont even know where to start. Looking online so much info and its a lot of info to make sure you get the correct type for someone in my situation who has no kids. Is it worth getting now or when i have kids which will probably next year we start trying Have you checked what you are entitled to from work? Link to comment Share on other sites More sharing options...
Demitri_C Posted December 1, 2020 Share Posted December 1, 2020 51 minutes ago, Xela said: Have you checked what you are entitled to from work? What do you mean? I wouldnt think im entitled to anything as i work in public sector Link to comment Share on other sites More sharing options...
Xela Posted December 1, 2020 Share Posted December 1, 2020 2 hours ago, Demitri_C said: What do you mean? I wouldnt think im entitled to anything as i work in public sector Just the fat public service pension only Most companies, public or private, will have certain benefits, especially if you pay into the pension. Death in service payouts / life assurance, etc. 1 Link to comment Share on other sites More sharing options...
ml1dch Posted December 1, 2020 Share Posted December 1, 2020 (edited) 3 hours ago, Demitri_C said: What do you mean? I wouldnt think im entitled to anything as i work in public sector You'll likely have six months full sick pay, six months of half your salary and either two or three times your salary death in service. Which is pretty substantial. Although the second part (I'm guessing) won't cover your mortgage. Speak to a financial advisor about it. It's nearly always commission-based, and paid by the provider. So nothing to really lose from talking to someone. Edited December 1, 2020 by ml1dch 1 Link to comment Share on other sites More sharing options...
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