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Thread: Life Insurance/Critical IllnessCover

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    Life Insurance/Critical IllnessCover

    I currently have none. And I feel guilty to the point it has now become a priority.

    The reality is that if I drop dead tomorrow I leave my 13 year old son nothing and I leave my family a bill for my funeral

    Looking at quotes some are ridiculous. And I am not too sure about the Critical Illness Cover.

    What would Bouncers think is a sensible amount to cover funeral and to leave a teenager? And what cover do others have?

    A nice cheery Friday thread!

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    I have none either,my auld boy says worry about being deid when your deid 👍
    Insurance companies are generally $#@!s too.
    There's no other way
    There's no other way
    All that you can do
    Is watch them play

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    Cheer up Smurf!

    Just had a quick look on a comparison site, to get £500,000 cover- excluding critical illness cover- for 30 years works out about £90pcm with cover being the same if you pop yer clogs tomorrow or in 29 years.

    My wife generally takes care of that kind of thing, but I had a look at outgoings last week and some of them are genuinely shocking. We're gonna look at all these things- pensions/mortgage/life cover next month. I'm convinced there's big savings to be made...that's not even mentioning electricity/Sky/mobiles, which is ridic.

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    Quote Originally Posted by PILTONSTANY View Post
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    I have none either,my auld boy says worry about being deid when your deid 👍
    Insurance companies are generally $#@!s too.
    The problem with that is debt doesn't die when you die? A degree of planning is sensible I think?

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    Quote Originally Posted by PILTONSTANY View Post
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    I have none either,my auld boy says worry about being deid when your deid 👍
    Insurance companies are generally $#@!s too.
    How I have always thought but I'd hate to leave nothing for my son and my family the worry of paying for my funeral. I have concluded that by not having life insurance I am being a selfish b'stard!

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    Quote Originally Posted by southfieldhibby View Post
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    Cheer up Smurf!
    Feeling happy it's Friday and great Scotland result last night. However, being a parent you do start thinking of what you are or are not passing on...


    Quote Originally Posted by southfieldhibby View Post
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    ust had a quick look on a comparison site, to get £500,000 cover- excluding critical illness cover- for 30 years works out about £90pcm with cover being the same if you pop yer clogs tomorrow or in 29 years.
    £90?!! That's a night oot!!


    Quote Originally Posted by southfieldhibby View Post
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    My wife generally takes care of that kind of thing, but I had a look at outgoings last week and some of them are genuinely shocking. We're gonna look at all these things- pensions/mortgage/life cover next month. I'm convinced there's big savings to be made...that's not even mentioning electricity/Sky/mobiles, which is ridic.

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    I actually think there's a business idea in that...

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    Quote Originally Posted by Smurf View Post
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    I actually think there's a business idea in that...
    In making my wife spend less on $#@!e? Do tell!!

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    Quote Originally Posted by southfieldhibby View Post
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    The problem with that is debt doesn't die when you die? A degree of planning is sensible I think?
    That's only a problem if you have debt....

    Quote Originally Posted by Smurf View Post
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    How I have always thought but I'd hate to leave nothing for my son and my family the worry of paying for my funeral. I have concluded that by not having life insurance I am being a selfish b'stard!
    I used to think i was bein selfish but i once met two Aussie women in their 80s doing a world tour (on a train from Kings Cross going to Falkirk ),they were of the opinion that their kids had their own money now and it was time they spent money they'd earned over the years.

    It's a wee bit different from dying and leaving a kid with nowt but i kinda agree with the sentiment,Me and Sis tell my Dad to enjoy his old age and let us worry about costs when the day comes.
    There's no other way
    There's no other way
    All that you can do
    Is watch them play

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    Quote Originally Posted by PILTONSTANY View Post
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    That's only a problem if you have debt....

    True, but it's pretty difficult to have zero debt, whether it's a mortgage or a loan or a credit card or whatever. And getting rid of your corpse aint free either...

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    Quote Originally Posted by southfieldhibby View Post
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    And getting rid of your corpse aint free either...
    Average cost 4K+

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    Quote Originally Posted by Smurf View Post
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    Average cost 4K+
    I would go for £7k to cover a funeral. Are you self-employed now? I have death in service benefit with my work - 3 times my salary which will cover the necessary.

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    Quote Originally Posted by southfieldhibby View Post
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    True, but it's pretty difficult to have zero debt, whether it's a mortgage or a loan or a credit card or whatever. And getting rid of your corpse aint free either...
    Everyone has different circumstances,i'd avoid critical illness cover like the plague if folk have the choice.
    There's no other way
    There's no other way
    All that you can do
    Is watch them play

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    Quite a bit past it radge






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    Quote Originally Posted by PILTONSTANY View Post
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    Everyone has different circumstances,i'd avoid critical illness cover like the plague if folk have the choice.

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    Quote Originally Posted by Smurf View Post
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    I currently have none. And I feel guilty to the point it has now become a priority.

    The reality is that if I drop dead tomorrow I leave my 13 year old son nothing and I leave my family a bill for my funeral

    Looking at quotes some are ridiculous. And I am not too sure about the Critical Illness Cover.

    What would Bouncers think is a sensible amount to cover funeral and to leave a teenager? And what cover do others have?

    A nice cheery Friday thread!
    I got my bro's life insured for £27 a month, cannae actually mind what that pays oot but I think its 10K plus. That should cover yer funeral and leave a few bob for a bevvy for us Bouncers K..

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    Quote Originally Posted by PILTONSTANY View Post
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    Everyone has different circumstances,i'd avoid critical illness cover like the plague if folk have the choice.
    And if yi die fae the plague M?????


    Think I might nip over to Gorgie Farm and count some Chickens before they've hatched

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    Quote Originally Posted by Wannabehibee View Post
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    I would go for £7k to cover a funeral. Are you self-employed now? I have death in service benefit with my work - 3 times my salary which will cover the necessary.
    Yeah, i was worth dead than alive while I worked! When the kids were teenagers they were sorted with lump sums and an income while they were less than 21 or in full time education.

    I'll leave my kids something other than funeral costs which we're still looking at - we've got a brochure now!

    My kids are all now in their 20s so it's a race between me spending what I've got or the bank of dad frittering it away.

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    Quote Originally Posted by hibbybilly View Post
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    And if yi die fae the plague M?????
    Don't come near my funeral
    There's no other way
    There's no other way
    All that you can do
    Is watch them play

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    Quote Originally Posted by PILTONSTANY View Post
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    Don't come near my funeral


    Think I might nip over to Gorgie Farm and count some Chickens before they've hatched

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    Best policies/recommendations obviously differ depending on everyone's circumstances such as employment type, dependents etc so best ignoring generalised comments such as avoid critical illness cover.

    That cover might be more than useful for example for self employed people to provide a lump sum in the event they cannot earn and don't pop their clogs. I have it included with Life cover and it would return a sum that would tide me over for a year of not working or pay out enough for a right good holiday or two (and celebration party) for the family if I snuffed it.

    Decreasing term assurance policy would be good for those worried about leaving behind a mortgage debt and is fairly low cost as the sum assured reduces in line with your mortgage balance.

    Some employed folk will be eligible for Death in Service lump sums (4x salary in Banks I worked in) which should take care of the family in the event of being squashed by a massive lorry for example.

    Best solution - get a qualified expert to assist who can tailor their suggestions to your unique circumstances.

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    Quote Originally Posted by PILTONSTANY View Post
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    Everyone has different circumstances,i'd avoid critical illness cover like the plague if folk have the choice.
    I kept my critical illness cover going until my house was paid for, then cancelled it. I no longer have life insurance either as my family will be left a roof over their heads and a pension pot - if that's not enough, hell mend them. Critical illness cover is very expensive and mine went up every year but it gave me peace of mind at the time.

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    on a similar cheery note have just done a will under Will Relief month I think it's called where your fee / donation goes to a charity.

    property aside my most valuable assets are probably a fine collection of Hibs home and away shirts and tracksuits from 1979 - 95.

    might look at life insurance next..

    are there any pensions experts on here? am looking for some advice
    until the sky turns green

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    Quote Originally Posted by tricky View Post
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    on a similar cheery note have just done a will under Will Relief month I think it's called where your fee / donation goes to a charity.

    property aside my most valuable assets are probably a fine collection of Hibs home and away shirts and tracksuits from 1979 - 95.

    might look at life insurance next..

    are there any pensions experts on here? am looking for some advice
    Legally I'm pretty sure no-one can give you advice on here. I don't think even the Torys would change that!

    ... other than get financial advice.

    Much depends on your occupational scheme if you have access to one.

    If you have access to an occupational scheme the administrator will be able to give you the options within that scheme but to cover all the options you should seek INDEPENDENT financial advice and that might/will cost you.
    Space to let

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    Quote Originally Posted by Jack View Post
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    Legally I'm pretty sure no-one can give you advice on here. I don't think even the Torys would change that!

    ... other than get financial advice.

    Much depends on your occupational scheme if you have access to one.

    If you have access to an occupational scheme the administrator will be able to give you the options within that scheme but to cover all the options you should seek INDEPENDENT financial advice and that might/will cost you.
    didn't mean advice on a public forum..might be someone I know on here who could help..

    my recent experience of IFAs has not been very positive at all, independent in name only.
    until the sky turns green

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    My son had Critical Illness Cover......it benefited his loved ones.

    BIG G


    Everyone's words of support are helping me thru this. I appreciate every comment, prayer and positive thought.

    Guys and girls I can't emphasise how much your words are encouraging and helping me. This battle has barely started but I know you'll be by my side every step of the way - it's giving me great strength - Shaun 16/03/2016

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    I have seen both life cover and critical illness benefits many. Just recently a friend passed away too early and without any warning. Family are left debt free and with money to in many ways replace his income. As a regulated independent financial adviser I see the benefits. Happy to offer no cost no obligation confidential consultations if it is needed

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