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Life Insurance and other morbid things ...
14-01-2007, 07:58 PM
Post: #1
Life Insurance and other morbid things ...

Does everyone on here have life insurance ?

Ive been thinking about it a little lately. Mr.B and I have the life of our dreams now, but if one of us pegged it, we would have to give up everything as we couldnt afford the mortgage single handedly. Well, we could - but we wouldnt be able to eat.

So I have been thinking that, although it will be tough paying for insurance, we should get it. It will give us peace of mind, and im thinking it should be enough to pay off the mortgage. So long as that wasnt a problem, we would be OK.

So is this the right thing to do ? Should we get life insurance, or critical illness insurance - so if one of us is diagnosed with a horrid illness we can claim the money ?

Im confused, and im rambling ..... but i think we need to protect one another and our lifestyles.

I'm not perfect, but im so close it scares me
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14-01-2007, 08:18 PM
Post: #2
Life Insurance and other morbid things ...
Yes Bons - at the very least get life insurance. Critical illness is another good (but expensive) idea, but life insurance is essential IMO, you need to be able to pay your mortgage.
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14-01-2007, 08:31 PM
Post: #3
Life Insurance and other morbid things ...
I agree with Buzz. Absolutely, life insurance at the very least.


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15-01-2007, 09:10 AM
Post: #4
Life Insurance and other morbid things ...
Yep definitely get it Bons. Mr tiggs has life insurance, although I don't as I can't find a life insurance company that will insure me due to circumstances. But seeing as I don't earn anything anyway it's not that big a deal, but for the main wage earner who pays the mortgage, it's a must!

"You cannot teach people anything. You can only help them discover it within themselves."
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15-01-2007, 10:38 AM
Post: #5
Life Insurance and other morbid things ...
Dont you have endowments tied to your mortgage?

"You can put lipstick on a pig...but it's still a pig!!!"
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15-01-2007, 11:26 AM
Post: #6
Life Insurance and other morbid things ...
Groucho Wrote:Dont you have endowments tied to your mortgage?

Hmmmm, no i dont think we do. We have a repayment mortgage (if thats what you mean) and the only thing written in the contract was the if one dies the other gets the house as its 50/50 at the moment.

Was that what you meant ?

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15-01-2007, 11:35 AM
Post: #7
Life Insurance and other morbid things ...
No, an endowment is an insurance policy that repays the mortgage if one party dies.

"You can put lipstick on a pig...but it's still a pig!!!"
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15-01-2007, 11:42 AM
Post: #8
Life Insurance and other morbid things ...
Groucho Wrote:No, an endowment is an insurance policy that repays the mortgage if one party dies.

Im pretty sure we dont have this no .... but perhaps i should find out before i spend more money Huh To find out, should i just call the Halifax ?

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15-01-2007, 11:46 AM
Post: #9
Life Insurance and other morbid things ...
Depends who your mortgage is with. Cool

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15-01-2007, 11:50 AM
Post: #10
Life Insurance and other morbid things ...
Groucho Wrote:Depends who your mortgage is with. Cool

You are a pilchard sometimes :laugh:

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