M
mrssummer
Guest
I am looking for some advice & am hoping somebody can help me. I am looking into changing my life assurance, have looked at other posts here but still very confused!!
We are a couple in our early 30's with mortgage of €172,000, 22 years left. have one ds and another baby on the way. No other debts. We took out life assurance and critical illness when we took out our mortgage in 2007. TBH didn't look into it at all (different times), just went by mortgage provider's advise. We currently are insured for €190,000 critical illness each and have €190,000 each dual life convertible and indexed. Premiums are about €130 per month and tbh we can't afford to pay this much!!
I have decided to cancel critical illness policy but not sure how much life assurance we should have. Was thinking maybe €400k dual, no conversion or inflation. What do ye think? Does that sound enough? How should we calculate this. Also looked at some websites offering 70% of the first year, is there any clause to this?
Thanks
We are a couple in our early 30's with mortgage of €172,000, 22 years left. have one ds and another baby on the way. No other debts. We took out life assurance and critical illness when we took out our mortgage in 2007. TBH didn't look into it at all (different times), just went by mortgage provider's advise. We currently are insured for €190,000 critical illness each and have €190,000 each dual life convertible and indexed. Premiums are about €130 per month and tbh we can't afford to pay this much!!
I have decided to cancel critical illness policy but not sure how much life assurance we should have. Was thinking maybe €400k dual, no conversion or inflation. What do ye think? Does that sound enough? How should we calculate this. Also looked at some websites offering 70% of the first year, is there any clause to this?
Thanks