Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

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.

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: