Life assurance.

[samcogle]

Well diabetes.uk have sorted me out with a quote for death within the next 10 years to cover my mortgage but they don't do redundance cover. They gave me a number of someone else but to be honest I would like just one payment covering everythig so back to the drawing board as I am more worried about losing my job...if I die I am happy to let someone else sort out my debt

 

[deadwood2]

Glad you're sorted on one front but I think loss of employment cover is going to be very hard to get n the current conditions.

 

[samcogle]

yep, very true. I am in education so we are doing quite well out of the recession as everyone is signing up to re-train in things but even so we have been hit by redundancies...middle management at the mo but you never know

 

[11vie]

wonderful! thanks for the info..

 

[deadwood2]

yeah, the training side of our little enterprise is going well at the mo - only problem is, if they get the middle management, the top brass and the bottle washer goes too

 

[samcogle]

The beautiful people from AXA have accepted me for a mere £12/month. Yay for them

 

[Dennis]

Is that for a 10 year term assurance Sam? It's certainly a surprisingly low premium.

 

[samcogle]

\hi Dennis, it certainly is..one of those decreasing ones. It's for £40,000.

 

[chocnuts]

cool! for that price month might get one!

 

[Dennis]

Hi Chocnuts and welcome to the forum.

The policy that Sam got wasn't straightforward life assurance, if that's what you are after. Sam's policy is what is usually called a limited term mortgage protection policy. Her policy lasts only 10 years and each year the amount that they would pay out in the event of your death reduces (that's where the "decreasing" comes in).

If you are looking for a "whole life" policy - one where you pay a regular premium every month until you die - then you will need to talk to one of the specialist diabetes insurers because the big insurers (like AXA, Norwich, Prudential, L&G, etc) usually don't want to know when it comes to diabetes, or they will quote you an astronomically high premium in the hope you will go somewhere else!