Life and Critical illness insurance

[Ardesco]

I personally see no reason why I should pay a bank money so that they are insured if I die. In my opinion all of these payment insurance plans are just a way for the bank to get more money off you while making sure that they get thier payout if the worst happens to you.

I would say screw it most policies will not pay out enough to cover my mortgage's anyway so even if I do take them up and suddenly die the bank will still take everything away anyway. Instead of paying for insurance just save the same amount every month and invest it wisely, over a 20-30 year term you will probably save up a nice little nest egg to use if times ever get dire.

Also bear in mind that most insurance companies will do thier best to get out of paying the money due to various conditions in the small print anyway, not that i'm cynical after working in a bank or anything....

[Troll]

Get plenty of exercise, eat well, stop smoking and drink moderately. And stop paying bollocky insurance unless you're over 40.

HTH.

You mean squander your youth

HTH

[Asterix]

Critical/Life

Go for a fixed term AND fixed premium if you can. Combine life assurance with critical life so that you get eg £ 50k critical (upon diagnosis) and £ 100k if you snuff it (OK, you won't live to see it). Avoid the banks like the plague, go for small/specialist insurance co's. Beware of the small print too !

[sasguru]

Get plenty of exercise, eat well, stop smoking and drink moderately. And stop paying bollocky insurance unless you're over 40.

HTH.

[hyperD]

Just wondering what everyone does... i have to set some up for myself

Do you get term assured or sepearate policies or decreasing against the value of a mortgage(those who have mortgages)

any advise would be appreciated!

Be very careful with the high street banks' T&Cs that offer this product: Lloyds TSB offered this a few years ago and to be honest, you'd be better off dead than get cancer.

[Troll]

Term - written under trust


HTH

[kramer]

Just wondering what everyone does... i have to set some up for myself

Do you get term assured or sepearate policies or decreasing against the value of a mortgage(those who have mortgages)

any advise would be appreciated!