noreen begley
Registered User
- Messages
- 4
Hi,
In April 2001 my husband and I took out a whole of life double payout Canada Life Protection Options Life Insurance plan at a premium of 84.00 monthly.
First Life Second Life
Sum Assured: 96,500
DITTO
Serious Illness: 50,790
Childrens Serious Illness: 21,000
After the 11th year review we are now paying 250.00 per month with a current surrender value of 450.00.
Present Benefits: 174,000 each Life Cover
92,000 each Serious Illness
As I am afraid this premium will not be sustainable in the long term I would appreciate any cheaper suggestions. Also I have been hearing very bad views on Serious Illness cover in the sense that the condition would have to be terminal before payout. Is this true?
We are in our mid fifties with two children in their twenties and one a student.
Any ideas would be appreciated as I am not very au fait with all this.
Also we do not have a mortgage.
In April 2001 my husband and I took out a whole of life double payout Canada Life Protection Options Life Insurance plan at a premium of 84.00 monthly.
First Life Second Life
Sum Assured: 96,500
DITTO
Serious Illness: 50,790
Childrens Serious Illness: 21,000
After the 11th year review we are now paying 250.00 per month with a current surrender value of 450.00.
Present Benefits: 174,000 each Life Cover
92,000 each Serious Illness
As I am afraid this premium will not be sustainable in the long term I would appreciate any cheaper suggestions. Also I have been hearing very bad views on Serious Illness cover in the sense that the condition would have to be terminal before payout. Is this true?
We are in our mid fifties with two children in their twenties and one a student.
Any ideas would be appreciated as I am not very au fait with all this.
Also we do not have a mortgage.