I had to do something similar. We were paying £96 a month for life and critical illness cover. Part of the terms of my IVA was that I reduce it to no mre than £75 per month. The company we are with now insure us both for just life cover for just £14 a month! I had to introduce the £82 saving into my IVA.
I get very good life insurance with work but OH doesn't have any and it worries me sometimes. I doubt we could afford it for him though due to his age and family history.
Thanks all,
I have tracked down what seems to be a pretty good deal through "Martins money tips", at money saving expert.com, its a good site and explains,"in English", the difference between different types of insurance and recommends the proven cheapest brokers - I get emails with latest offers etc. £120k cover for both us on a level term life assurance policy, for £33/month. You can choose the term of this policy, we did it for 20 yrs and takes us into retirement but you could do it for any term e.g. to align with mortgage completion, or IVA completion. Im hoping to be able to have it covered by I&E, as my wife is now working and they are getting more than originally planned.
Right - Gas and electric next!!
Hi Gareth - level term assurance is probably your best option as it is the cheapest form of life cover (other than decreasing term assurance). Don't forget to check out the comparison sites for the cheapest quotes though and maybe phone some of the larger companies for quotes as they don't all give their current rates to the internet sites. Make sure that you ask for the longest term you could possibly require as when you reach the end of the policy eg 20 years time, the cost of life assurance will have increased hugely. I was a Financial Consultant in my previous Life!!!
Glad you have managed to get something sorted Gareth - that must put your mind at rest now.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Footiemad - I thought from your earlier post that you were well informed on insurance lol. I tend to be a 5 minute wonder on these things (until I have found what I think is right) then I forget it all and focus on the next project (as my wife calls it), whether it be insurance or buying a washing machine! Nice forum name - it could fit me too lol.
Tina - Yes your right. Ive had quite a bad year personally, not just iva and just beginning to turn the corner (I hope). I think its a good sign that I can now begin to look to the future and consider other people and the "what ifs" and what will family do if Im not around etc. When we bought our house about 10 yrs ago, we went about a month without cover because of some mix up and I was really worried, just gone a year and only just following it up - what am I like!!
I feel this forum is almost like therapy, us blokes arent normally very good at talking and sharing problems (I tried counseling twice!) but it helps to read about people talking about the same things that affect you and to get the supportive comments from everybody. Thanks.
Plus I think the forum gives you that bit of anonymity and protection that you don't get chatting in the outside world so it makes it easier to get things out. Your head is obviously in the right place to face up to more things now and look to the future - great fr you and your family - I look forward to reading more from you over time to see how you are getting on.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Hi Gareth,
Just something to think about, when you set up your new life cover, you really need to ensure the policies are placed in to Trust. This will then ensure the right people get the benefit and not your creditors.
If you need any further advice please contact me.
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?
Yes spot on Tina, although I kinda wish I was someone who could address these things face to face. Strange - I don't have a problem with managing and discussing tricky issues with work and staff etc (I am understanding and sympathetic) just hide my own problems away. I will be around for a while now and I know there are some things coming up very shortly to share with forum members.
Lesley - I've been really busy this week and haven't had a chance to look but hoping to try and look again over the weekend, in between running son to football, other son to work and xmas shopping etc. I will let you know what I find.
Ryan - Many Thanks for the advice, I did pick that tip up from somewhere, cant quite remember from where/who now but thanks for taking the time to post.
