Any advise pls on life ins/critical illness- really woried as have 4 dc and no provision

[fakeblondie]

Ok DH and I both work and have ok ish salaries.
80000 outstanding on mortgage.
Prob 6,000 other.
Both have good pension which would pay reasonable lump sum upon death.

I worry that if either of us died i would want the mortgage paid off at least and something for kids.
Also if both of us died enough for ???

Doesnt bare thinking about but based on above i need to do something and the 1 quote i got was stupid money- over 150.00 per month !

Can anyone recommend a good provider or good deal or recommend what i need to do as its quite confusing !
TIA

You can take out simple mortgage protection/life insurance should. There are lots of policies around and any good online comparison site will give you an idea of prices.... not expensive in my experience. My policy with Scottish Widows covers a balance of £80k on a decreasing basis and costs me about £10/month (46yo non-smoker).

If you want life cover over and above the outstanding mortgage one option is to go for a bigger amount insured - let's say £100k - and ask for it to be fixed rather than decreasing over the life of the mortgage. Your lump sum (death in service benefit?) connected to your pension would be in addition.

Critical illness cover pays out if you are diagnosed with various serious illnesses but it is a lot more expensive. Unfortunately, I have heard so many bad stories about companies refusing to pay out that I don't bother with it. I look after myself better instead - it's cheaper!

BTW... if you haven't already and if you're thinking 'mortality', now's a good time to make a will. Good luck

Will-gosh yes .
Thans for all the above.
Ill look on Uswitch . Think ill start with just covering the mortgage and then go from there .
Just had another quote over 200 !

Dh & I each have £100,000 life insurance plus a policy that pays the mortgage off if one of us dies.

The individual policies were about a tenner a month (mid 30s, non smokers) so I wonder if you're looking at something else?

Critical illness is much more expensive. The ones we've got are straightforward you die = payout, although they also pay out on terminal diagnosis I think.

If you are getting life insurance have a look on Quidco or one of the other cashback sites. We got £50 each for taking out our Direct Line policies and lots of other companies also offer some sort of cashback.

DH and I have just got a new life insurance policy, it also pays out the lump sum on terminal illness but not any other cover. It is a joint policy for 150k and costs about £13 per month.

It doesn't cover monthly payments ie income replacement, but I thought it was quite reasonable as basic cover to provide a one-off payment if one of us dies. It is with Aviva, through the AA. LV were also quite reasonable.

The quotes you have are high - are they for income replacement as well as a lump sum?

We pay £18.50 a month with Aviva (I think) for 225K decreasing, if either of us die.

If you ring London and Country, they can advise you - they don't charge commission and sort out everything.