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Both self-employed with mortgage and no Life/illness/Health Insurance

(2 Posts)
EssexMummy123 Wed 12-Nov-14 12:46:20

So we need to get some - we can't really afford to spend hundreds a month on it but could spend £100 a month.

I think we need decreasing level-term to pay off the mortgage with a bit left over along with critical illness as we're both self-employed.

I was also thinking about a medium cover level for health insurance - although I'm a bit confused - is the full excess always applicable? e.g if it's just for a one-off physio?

Does the above sound correct?

Many thanks!

FantasticMrsFoxx Wed 12-Nov-14 18:23:56

You need to consider 'income protection insurance' rather than critical illness cover. They're potentially more chance of you being hit by a bus and not being able to work for a while as there is you unfortunately having one of the illnesses covered under a CI policy.
Life insurance, to pay off your mortgage in the event of your death, you may need to take out separately.

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