Life cover - am I about to be stung? £70 per month for a below av. m/g amount

[Walnutshell]

I'm just hesitating over a Bright Grey application form I planned to post today. Have been with B/Grey for 2 yrs and happy to stay with them, BUT! Moving house very soon so obviously had cover reviewed - via an FA employed by the company who previously arrangeed m/g and b/grey cover.

OK, m/g was £106K, life prems were £31.50.
Now m/g due to increase to £138K, prems to a whacking £69.

This is over a longer term, but dh has good life protection and pension through work.

Can't understand why so massively increased and as our initial income will be massively DEcreased, am keen to make sure I'm not shelling out on premiums!

Thanks x

YEAH!!

YEAH!!

I suspect that any question asked incorporating the words "noodlestroodle and lulumama" will result in my hearing dial tone as FA will realise I've lost the plot.

Obviously not a professional then!. If you are starting from scratch again why not surf whilst you are waiting for them to call to see exactly how cheap they are...

OK, dh just spoke to FA (I was feeding the Loud One). He was very nice, helpful and INDEPENDENT! Explained why had been looking at alteration rather than new application with Bright Grey. But offered to look at all providers and call us with new figures.

Head is spinning, baby crying, up to neck in boxes and displaced furniture. Howwwwl.

Hey, just to add to it all, we will probably be moving out of our house on Friday 13th. Nice one.

Umm, Noodle, just flicking through messages and you mention wills... So did FA. Oh god, another thing to do. Really important right? About £150 yes? I need a PA

Well done!Hope your guy comes back with some reasonable figures.Good luck with the move.

Ahh yes - wills.Very important if you are a home owner (mortaged up to the hilt or otherwise) plus provision for Loud One and any other DC. Assume that was £150 each - you need a pair of wills that work together for you and DH so that should the unthinkable happen they work together to the best effect.The idea is to keep as much money from tax man as possible whilst providing adequately for surving family.We just did ours and the hardest bit was deciding who would inherit the DC if we both died...Your adviser can probably give you name of local solicitor to draw up.But this could probably wait until after the move when the dust has settled...unless DH is a lawyer I wouldn't try to buy a will writing pack from stationers and DIY.

Well, I won't pretend I understand it (am I just over-complicating or what?) but he's rung back, full of figures and helpful advice (leastways, I think so) and will be sending application for Liverpool Victoria in the post... Not a massive monthly saving, but it all helps.

Thanks folks.

If you are preparing matching wills (i.e. you and DH are doing effectively the same thing (e.g. leaving your estate to the other if they survive by 30 days and if not to DCs) then most places will offer a package rate for doing the two wills rather than twice the single will rate.

And if you have reasonably simple affairs then your bank/building society/mortgage lender may have a will-writing department who will do it slightly cheaper than a high street solicitor.

Oops, just read your last message. Yes, must must must do wills. I'm sure FA said £160 for both of us? Anyway, will tackle as soon as we have moved out and into our temporary accommodation (in-laws!)

Definitely the hardest bit will be deciding who gets the Loud One

Really and truly I do not have a number one person for this job. Wake up at nights worrying about that one.

Ta lemonaid, I thought £160 sounded OK when FA suggested it.

We did ours seven years ago so I have no idea what the going rate is, £160 doesn't sound ridiculous especially if it's for two. We do need to update ours, though -- they do cater for DS but he was only a hypothetical at that stage, and there's nothing in there about guardianship because we couldn't think what to do. Really need to chat to a specialist on what's legally possible / advisable on that front...

Yeah, I feel like although we have good families both sides there's not really anyone totally suitable for guardianship. But then, maybe everyone feels like that anyway.

Walnut it was one of the hardest things we've ever had to do. I wasn't keen on SIL and my parents and PIL would be too old by the time the DC are 18. In the end we asked some very like minded friends who we respect and have similiar views on bringing up DC as we do. But I did feel strongly that we should have something in place. I think you have a good price for a pair of wills.