Hi all
I'm in good health but am currently taking stock of my finances and something I don't currently have is Life Insurance. The pets have insurance though!
I'm a lone parent, employed, with a 12 yo DS.
I rent my property and have a few financial commitments... eg loans etc.
My question is... should I take critical illness cover in addition on a policy for life insurance... or just take out Life Insurance?
I've looked on Martin Lewis's website and they say for 'rule of thumb to insure yourself for 10 x your annual salary and for the number of year your child will be financially dependant for.
Based on this I was considering a figure of £200k and making the level term 10 years (as my DS would be 23 by then).
I'm a bit confused by the critical illness element as I'd like to know that he'd be financially secure whether I'm critically ill or pass away... any advice would be most welcome.
I'm currently looking at the policy with Legal and General through Cavendish Online. Don't really want to phone them as hate the hard-sell.
Thank you in advance.
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General health
Life /Critical Illness Insurance Advice Please
11 replies
mummytippy · 13/06/2019 15:17
OP posts:
danj18 ·
30/04/2020 12:27
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