S
sonofanarchy
Guest
Hi all
I know this is a very subjective question, but hopefully you may be able to shed some light on these for me...
I have a mortgage approved, house is in contract stage and i have been told i need life insurance & mortgage protection to finalize the mortgage. Ive read a few threads on this board about life insurance and am confused as to the options , and what happens on each...forgive me my stupidity on these matters, my skills lie elsewhere...
I definitely want to get us both covered, and have some sort of backup up for our family in case, but dont want to be paying a lot of money that is badly needed now! for something that may not happen in the future.
any advice/direction greatly appreciated..!
many thanks
I know this is a very subjective question, but hopefully you may be able to shed some light on these for me...
I have a mortgage approved, house is in contract stage and i have been told i need life insurance & mortgage protection to finalize the mortgage. Ive read a few threads on this board about life insurance and am confused as to the options , and what happens on each...forgive me my stupidity on these matters, my skills lie elsewhere...
- life insurance vs life assurance? are these the same?
- mortgage protection , can this be combined with life insurance, or do they have to be separate?
- My wife has been talking to the mortgage company and i feel wary of them being very pushy and trying to scare us into cover/additional cover we may not need.. income protection, serious illness etc...i know these thing can happen and its a gamble, but one i may not be able to afford, we have 4 children and things are tight as it is...
- whats with the widowers allowance?
- is it best to lock into a fixed % for 20-30 years or is it better to pay more now and get things reduced towards the completion of the policy (kids move on, earnings increase etc...) what are the options here..?
I definitely want to get us both covered, and have some sort of backup up for our family in case, but dont want to be paying a lot of money that is badly needed now! for something that may not happen in the future.
any advice/direction greatly appreciated..!
many thanks