what kind of life/critical illness/salary insurance do you have?

[starlover]

we're in the process of taking out our own mortgage and i'd be interested to know what type of cover people go for... and why!

dp wants to err on the side of caution and have life, critical illness and phi
this will be around £80 a month

is it really worth it? maybe that can't be answered...

we did actually get married for each others life insurance
pension, accident cover, etc etc etc

Quite a lot of life insurance and death in service benefit, as I am the breadwinner. I am worth far more dead than alive, that's for sure. I also have critical illness cover.

Orinoco that was the best deal the mortgage advisor man could find us...
that was for decreasing life cover, critical illness and phi..

he said he wouldn't go with NU!!!!

it's such a difficult choice to make. Whatever we decide something could happen which makes that choice the wrong one.
I guess I am just worried that if DP was long-term ill then a lump sum from critical illness cover wouldn't cover our mortgage repayments... whereas if we had the phi it'd be ok...

hmmm

the £80 a month is for life and critical illness cover for both of us and phi for dp

we have joint life assurance which pays out the value of our mortgage on death of one or both of us within the 25 year mortgage term .. this is level so it is always going to pay the initial mortgage value

I don't work any more .. but dh has death in service (3 x salary), critical illness benefit (2/3rds salary) through work which I am grateful for too

I don't have a choice about NU, it's what my boss dictates!!

PHI is expensive though. The life is the cheapest.

Sorry I can't help this time!