Life insurance, critical illness cover ... or not?

[Disenchanted3]

Do you have it? Is it worth getting?

What exactly is it?

Cheers x

Permanent Health Insurance (PHI) I have googled and most of the sites I looked at have said the cover is limited to 65% approx. This equates to the net salary an individual would recieve. Correct me if I am wrong and show me please Womble.
Accident and Sickness cover (a short term illness cover) can pay out more then 65% butthat depends on your mortgage payments and your fixed outgoings etc, but it is not a long term cover and not PHI.

(Unless you are a housewife and have PHI cover under those terms)

i work for phi provider and regularly write cover for 65%, but have only ever written through an IFA, not direct application.

sorry. 65%plus

Womble, DH is currently unemployed,

will that affect our application?

Right Im off to bed to sleep in my council house bedroom that is rotten with damp and mould in the corners , rotting wooden window sills and no door handles pent house mansion.
Ta-ta!

haha wrong thread!

well if you have no salary to cover, then income protection not an option. but technically life and critical arent salary related but you may find they simply dont want to insure you (they will not go to the bother of setting up a policy if they believe in the near future you may cancel/not be able to pay the premium) but thats just my guess!

Disenchanted, anyone can have life and critical insurance regardless of their financial circumstances. Being unemployed would not make a differnce. The insurance company do not do a financial check on you as to whether you can afford to take out the life assurance or. That is more a matter for the financial adviser who advises you. Since they have checks on the persistancy of their clients policy's. By that I mean if they suffer from too many cancellations questions will be asked as to wether they are offering nsuitable advice.
If you apply direct to the insurance company usually the business is submitted under execution only rules which means that no advice is given or offered and no client financial circumstances are taken into account.
But I would suggest speaking to an IFA as you can get good advice as to what you should be doing.