Hi
So, I have had life insurance since 2015, however I could only afford to take out Life and not critical illness cover due to my finances.
If I am completely honest I still cant afford to pay any more, but it's the 'what if anything should happen' that scares me.
No terminal illness is in my family and thankfully no one has suffered anything considered a critical illness, but I just feel it is all around us these days. People are getting cancer very very young etc.
My DS friend's Nan passed away very recently following lung cancer. She had previously been treated from breast cancer, recovered and given the all clear and then was diagnosed with lung cancer than had spread. She deteriorated rapidly, and though she was in her early 60's, it just got me thinking as it was her and her son nearly his whole life and how it must feel for him now his Mom has passed.
I am early 30's with a 5 year old. I have to forward think for him. It has been me and him his whole life. I cannot say if this will be the case forever but it is so important I protect him should anything happen to me. As, if I was to be diagnosed with anything and unable to work, I have no cover in place to protect us, we would lose our home.
I currently have Life insurance only, level term, paying just under £10 a month. I know adding critical illness will likely take me over the £30 a month mark but I think the peace of mind will mean alot to me. But then it is a lot. I have a mortgage and own nearly 50% of my property. I like the idea of level term for as long as possible, but I think I am thinking this way to be able to protect my DS for as long as I possibly could. But I do know I am probably being silly here as when the policy will end his will be in his late 30's himself.
Just looking for advice and examples really of what others do.
TIA x