Time to refresh live and crit cover

[Captain Raymond Holt]

Afternoon all,

We’ve got a need to update our life and critical illness cover, basically increasing it.

I’ll be speaking to our current provider (L&G) for a quote and doubt I’ll be using the broker again - they were pretty useless.

Other than comparison sites should I be looking anywhere different? It could be pretty important cover so planning on not making a hash of it

ETA: yes, the title should say ‘life’ ffs

[dalenorth]

We specialise in this area and have a specific ph deal. Drop me a pm if you’d like one of my team to help out.

[witteringon]

Do include cashback sites in your researches.

At the end of the day of course it comes down to the best deal you can get in terms of cover, cost, and service but you can usually get hundreds if not thousands of £££'s in cashback by going through Topcashback or Quidco for the same Companies.

[dalenorth]

That’s pretty much our PH deal but with larger cashbacks

[Chilly for June]

anonymous said:

[redacted]

Great idea in principle.

However what happens if you were to leave the company in the future. You would then be looking for cover all over again which will be more expensive due to age and could be declined on any medical conditions you could have picked up along the way.

Makes much more sense to get a dedicated policy that covers what ever it is the OP is wanting to protect ie mortgage and if you have DIS it's an added bonus for your family.

[Stevemr]

Consider life cover and permanent health cover, rather than critical illness. It will pay an income rather than a lump sum, but is more likely to cover for more illnesses.
If you do go for critical illness , look very, very carefully at the illnesses covered, there is a big difference between different companies.

[Captain Raymond Holt]

Thanks all, some background I didn’t add...

For a total of something like £15/mth I have the following thru work:

5x salary death benefit
£75k payout if wife dies
£150k critical illness cover
65% of salary payment per month (to pensionable age) if I have to stop working due to illness/injury

My thought in having separate life/crit cover is that if anything were to happen to one of us, the other gets the mortgage paid off and the benefit of the above. Hopefully the wife won’t off me...


ETA: I’m presuming there’s nothing stopping >1 policy paying out for the same event...