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Life Insurance!

Rhi2468

Rhi2468

Newbie
Messages
1
Type of diabetes
Type 1
Treatment type
Insulin
Hi everyone, I've recently moved into my first house and i have been advised to take out life insurance to protect my mortgage. I have been quoted a very high amount from legal and general for someone who is only 19. Can anyone suggest any other companies I could try for a quote? It seems there aren't many providers who would be willing to cover for a type one, however i just feel the amount legal and general are asking for is way too much.

Thanks Guys :)
 
Here's my view as somebody who really shouldn't be trusted with these things.

Think about the reasons for having life insurance for a mortgage. It's so if you die, the mortgage gets paid off and your dependents keep their house. So if you have children, it's definitely worth considering. If it's a joint mortgage with a partner, and they need to stay in the house in the unlikely event of you copping it, maybe. But if not, is there much point? The house gets sold, that pays off the mortgage. Also what's the chance of dying? At 19, should be very low - and the insurance cost really ought to reflect that.

What's rather more likely is staying alive and losing the ability to pay the mortgage - illness, accident, losing job, stuff like that. The premiums for that insurance are likely to be even higher than for life insurance though, and I took the risk instead.

(similar thoughts is why I never get to say yes to any PPI people, because I never took it out in the first place).
 
I was told that having T1D you can't really get life insurance because if you cop it and it turns out to be because you had bad control in the past which may have been the cause of your passing away then the insurance company will not payout.
 
The Insurance Surgery site is where I went and they found me a policy.......they are broker....

AVIVA it was initially but I have now changed to Zurich.......

its not cheap, its about 30 quid a month to cover a three bedroom terraced house and some extra for the kids....
 
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