# Total Care Plan, €177pm... too dear?



## Gency (8 Feb 2007)

I've been given a quote by New Ireland of €177 per month for cover for myself, husband and two young children. This includes my mortage cover (€120,000). We are both smokers and in our 30's.

I was just wondering is this too expensive or is it about right. Also I would really be grateful for opinons on whether you think Total Care is worth it or should I just pay the Mortgage Life Cover (about €45pm) and take out some other policy.

Please advise me on this as I'm really confusted.


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## ClubMan (8 Feb 2007)

*Re: Total Care Plan, €177pm... too dear???*

What does _Total Care _offer? Why not just get basic decreasing term cover for the mortgage and then deal with your general life assurance needs separately with a more comprehensive plan? Why are you covering the lives of your kids? Surely only the earners should be covered to cater for the dependents in the event of their (earners') deaths? Why are you looking at this particular policy? Are you getting advice? Is it independent?


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## PM1234 (8 Feb 2007)

Check that some of the benefits you're paying for in your plan aren't covered by your private health insurance also.


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## ClubMan (8 Feb 2007)

And check if your job(s?) offers any death in service or other life assurance cover.


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## Gency (8 Feb 2007)

*Re: Total Care Plan, €177pm... too dear???*



ClubMan said:


> What does _Total Care _offer? Why not just get basic decreasing term cover for the mortgage and then deal with your general life assurance needs separately with a more comprehensive plan? Why are you covering the lives of your kids? Surely only the earners should be covered to cater for the dependents in the event of their (earners') deaths? Why are you looking at this particular policy? Are you getting advice? Is it independent?



Thank you for replying to me 

The policy seems to offer Life Cover Benefit for €120k should either myself or my husband die (like a normal policy) but then it continues again for the remaining partner, which would make a payment of €120k again should that partner die (I think this would go to the kids). Also the policy can be cashed in, however looking at it, it would take 20 years to break even on what I'd of paid in.
It also would pay up to €4000 for the death of a child.

I'm just not sure if it's really worth it.
My husband is self employed, I don't work. 
I'm just looking for some kind of security if anything should happen to either one of us.
We're moving homes and taking out a new mortgage and we figured that this would be the best time to do it now, The insurance adviser with our mortgage broker advised us on this policy.

What do you think.
Also what seperate plan do you recommend?


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## Gency (8 Feb 2007)

*Re: Total Care Plan, €177pm... too dear?*



PM1234 said:


> Check that some of the benefits you're paying for in your plan aren't covered by your private health insurance also.



We don't have health insurance. We've never needed it (healthy so far, touch wood lol) and just figured that if it ever came to it that we'd use our savings


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## RS2K (8 Feb 2007)

A classic case for getting proper independent advice.

Total Care isn't a bad policy, but the question is do you need it?

To satisfy the lender a mortgage protection policy is sufficient. New Ireland are frequently not too competitive in that area.


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## ClubMan (8 Feb 2007)

I agree. Shop around. Get independent advice. Consider getting a basic/cheap decreasing term mortgage protection life assurance policy and then getting something more comprehensive for general life assurance cover. Be wary of possibly useless add-ons such as a savings plan element as you would well be better off saving/investing separately. Carefully consider what your life assurance needs are and how your dependends might be fixed in the event of the death of breadwinners/carers.


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## NHG (22 Feb 2007)

*Re: Total Care Plan, €177pm... too dear?*

My reading on the Total Care Plan is that it is life assurance for all of your life (therefore guaranteed payout at some stage) and it can be cashed in at any stage in later years if one decided that they did'nt need it anymore.

Life assurance gets more expensive with each birthday and a term policy covers a specified number of years and if one pops her/his clogs the following year (or day after) after the policy has reached its term then there is no payout!

Am I missing something else here....

Are we crazy to be even considering whole of life policies.... its just to provide for family in case of the unexpected....


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## PM1234 (22 Feb 2007)

*Re: Total Care Plan, €177pm... too dear?*



> its just to provide for family in case of the unexpected....


 

Its an awfully big 'just' for anyone who has a young family ........

and one which depends totally on personal circumstances and existing financial commitments.
Its a whole other debate really. I think its covered in another thread 'is life cover playing on our fears'?
(will try and find the link but may take be awhile to link it!)


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## NHG (22 Feb 2007)

*Re: Total Care Plan, €177pm... too dear?*

Thanks PM1234, I have read through that thread that you mentioned.


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## ClubMan (22 Feb 2007)

Crazy opting for whole of life cover? Perhaps. Term life assurance might be a better option. And personally I would forget about most or all savings plans linked to _LA _policies that give some encashment value since they are often hard to understand and bad value for money.


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