www.iva.co.uk

hi, I haven't got any income and life insurance. I am planning to go for IVA.I am the breadwinner for this family,I got a 11 months old baby. My husband was laid off twice in 2 years and working as a carer for his sister. His income is not regular, mine is. As an NHS nurse for nearly 10 years, i think my job is secure, for now. I would like to secure the future of my family.Any advice if I really need income insurance and life insurance. I am just worried that once IVA is approved and something happened, we won't be able to afford to continue with IVA. Any recommendations?

If you click on the expert link on the left hand side of the page, you will see details for Coveritall - John Tegg does income protection and, I think, life insurance, for those in IVAs.

Payplan also do insurances and they do a life insurance which will cover you for your IVA payments in the event of death.

I am not a great believer in income insurance(i work for the nhs too,as does the wife as an RMN),so know that if I am off for a while I get a decent wage. As for life insurance its worth having but look at some of the comparison sites for best prices.
Is it to cover a mortgage as well or just to give a lump sum if either of you pops your clogs? You need to make sure its enough to return 100p/£ of your debts or the iva would soak it all up and leave either of you that remained with nothing to show.

Paul

I'm the same - my wage is fine for 6 months if off sick, and I don't intend taking that to it's full extent!

Me and hubby wouldn't get life insurance as we have too many health problems between us to make it viable (I dread to think what it would cost!) so I just have to hope that we make it to the end![:D][:D]

I got rid of my income insurance £65 per month, once I put my IVA proposal forward.

My mortgage is covered on another insurance and felt £65 was too much to lose each month and only ate into my disposable income.

I kept my life insurance though.

Janet x