Health/Life/Income insurances - advice sought

[ben_h100]

My wife and I currently have health insurance through an online health insurance provider (ultimately provided by AXA). I’m 31, she is 26 and we are in good health generally. No kids at the moment. We took the policy out nearly 12 months ago following a close friend falling ill and watching the rigmarole they went through with the NHS and their treatment. Ultimately it came down to long waiting times and missed appointments on the part of their doctors/consultants; we didn’t want to have to run that risk in the unlikely event one of us fell ill with something like the dreaded C. We pay approx £55/month for this which includes comprehensive Cancer cover.

I have a life insurance policy through my job and my employer provides a death in service benefit as part of the package. The life insurance runs for another 10 years and for approx £20/month pays out £250k to my wife in the event of the worst happening.

The health insurance is now up for renewal and I am wondering if what we are doing is worth it, and if we would be better placed going for an income protection or joint life insurance policy, or a combination of everything (does such a product exist?).

Finances wise we have a mortgaged property that we rent out. We rent ourselves as we work in a different part of the country.

I’d appreciate any advice or experience from others on this subject.

[dalenorth]

Hi,

Everyone’s circumstances are different, but yes I think putting income protection before health insurances could be wise.

We run an advice firm so do pm me if you want to talk it through with one of my guys?

Dale