Life insurance or mortgage protection insurance?

[LifeContinuesToChallengeMe]

Just that really 😊. Have just less than €200,000 on the mortgage, due to be paid off in 23 years. Mortgage protection quotes are around €32 a month, joint life insurance is around €45 a month. Thanks for any advice ! Am rubbish with things like this!

Is was a condition of our mortgage that we took out like insurance to co er the amount.

Mortgage protection if it includes critical illness. You are more likely to get sick and be unable to work in your working lifetime than you are to die. You are more likely to die after your mortgage is paid off.

Do you have death in service benefits with your jobs? It’s pretty common to. Mine covers 5 times my salary which would more than pay off the mortgage. For that reason, I just have income protection insurance.

I’m single so wasn’t fussed about life insurance. Sensibly ‘recommended’ to get something so got critical illness cover. 16 years later, brain tumour. CI cover paid out within 3 days of claim. No mortgage and due to low interest rates I got more than the mortgage left so new bathroom too. I can’t believe I was sensible enough to take it out but I recommend CI cover minimum to everyone buying a house