Life Insurance

[Louise]

How many people have life insurance?
I need insurance, were im protected if I die or I cant work. If I come off and break a bone ect.
I cant find any decent ones? I only wanna pay a low ammount each month. Work mate pays a tenner a month, is protected if he gets sick/broken bones ect but he cant remember the company untill he finds the paper work~
So, if you are which company are you with?

[Paivi]

You're a firefighter, iirc. Surely, you'd have this as part of your job? Or does it only cover things that happen at work (should also cover you for your travel to and from work, though). If you belong to your trade union, check which ones, if any, are available through them, as this could save you some money compared to buying the same policy outside the union.

[CortezTheKill...]

Dunno if Fire Service have it, but in public institutions (like schools) we have Death In Service payout which pays a lump sum if you die whilst working (not dying on the job necessarily, if you know what I mean). Pays out something like 3.5 x salary plus pension to deceased's partner.
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SV650 - TRASHED
ZX636R C6F - SOLD
Current number of wheels: 0 (not including a bicycle).

[syl]

Life insurance pays out (to your dependants) if you die.

Permenant health insurance (or income protection) pays your wages until a specified age if you end up unable to work due to long-term sickness (it's cheaper if you can defer any payments for 26 or 52 weeks, which is obviously dependent on your employers sickness policy and payments).

Critical illness cover gives you a lump sum if you get one of a list of specific (and often horrible) diseases before a specified age - this allows you to pay off the mortgage and take a long vacation / cruise etc.

LI and CIC are cheaper the younger you are, as it is less likely to be used. You can also get cheaper policies for LI and CIC that decrease each year, which may be useful if you are paying off a mortgage. PHI is more expensive the younger you are as it could potentially pay out much longer.

I've got all three. I rate PHI essential for me, LI essential to keep my family happy (at least enough to pay the mortgage in the event of my death, preferably a decent amount extra) and CIC as a bit of a luxury. Google on them - there are literally hundreds of companies supplying them. An independant financial adviser may be able to suggest policies that suit you or try sites suche as Moneysupermarket, Lifebrokers and Fool.
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Current bike: Kawasaki Z750S

[Black Knight]

I'm with a company called best insurance. I've found them excellent.

I pay £12 for £1000 of cover a month. as I am 26 the rate is £1.20 per £100. If you are under £26 I think the rate is about £0.95.


They are reliable.


I signed up on 3rd Oct. I had my accident on 9th oct. After 30 days they paid me £1000. I had not even made my first monthly payment to them!!

My policy is not long term, it replaces your income for 12 months. Personally I think thats enough. I'f Im that badly injured i'm off work for more than a year I'll prob be in some sort of respite care centre anyway.
https://www.bestinsurance.co.uk/index.asp?siteID=897
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Where does a turn end? 'Where you can do anything with the gas you want to, where you are brave again, where your attention is free from the turn, where you are sure you can do it better next time; that's the end' - Keith Code.

[brianmcewan.co.uk]

[_Will_]

I have some from work, 45p a week i think - covers me for accidents/hospitilisation/broken bones and injuries including death.

The companys called AIG.
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Past -Honda qr50 | 2004 Peugeot Tkr s 50| | 1996 Yamaha XJ600s Diversion|

[brianmcewan.co.uk]

[Louise]

[Wooly R6]

i have life insurance - only if i die

£150,000

at least it will cover the mortgage if i die
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R6 has been sold - 2004 Honda VFR VTEC now sold too - no bike at the moment

[Louise]

[Johnny GSX-R]

If i snuff it someone gets £92,000 lump sum, my mortgage of £125,000 will be paid off + if i get married my spouse would get 2/3 of my pension.

I'm making my own lunch and brews from now on incase they try to feed me rat poison.

[andrea]

I only have LI at the moment, £335,000 iirc and it costs me £16.60 per month. That's at the age of 25 and also as a smoker. Only problem is I still havent gotten around to making a will so if something happens my ex husband would get the lot and probably blow it Must get that sorted asap.

I do also want CIC ( as i have 2 kids to support no matter what happens) and the income protection as i'm self employed.

I seriously need to get this stuff sorted, cheers for the reminder

One more thing, i was offered what i thought was a great deal on IP for £6 per month, covered upto £1000 per month, but not if your injuries were received in a m/c accident Surprised they can do that. So watch out for the small print

[brianmcewan.co.uk]

[extreme3d]

[Black Knight]

[stinkwheel]

My bank keeps trying to sell me life insurance. I have told them I don't want it because I have no dependants. They say "Oh, but it would cover things like funeral costs.".

Like I'll give a shit?

[nc30 chick]

Both me and hubby are insured. We both have individual life cover for £150,000 each plus a joint cover to cover the mortgage, plus critical illness and hubby has a long term illness cover as I get this through work . We also get life insurance and critical illness for both of us through my work which is 4 times my salary.

In fact, I'm worth more snuffed it

[finpos]

If you are a firefighter (or trainee), I'd be very surprised if you didn't already have a "death in service" policy through your employer. In fact, lots of non-lethal type employers have this, and still people are persuaded to buy more, i.e. useless, insurance.

BTW, death in service just means as long as you work there, not just if you drop dead while at work

Ask H.R.

finpos.

[finpos]

nc30 chick -

Be careful, if you have multiple policies, they probably won't ALL pay out to you if something bad happens*. One will pay out and then try to recover some of it's own costs from the others, i.e. it's of no benefit to you directly to have more than one life or illness insurance policy.

They just don't tell you that when you sign the policy. Check the small print.

finpos.

* See also claiming off your holiday insurance. Ask yourself why they ask for your home insurance policy details when you apply.