UKC

Have a wife & house thus thinking of taking out life insurance (pays off mortgage for wife if I die climbing)

I have been offered cover for £40/month.
Does this seam realistic? (covers alpine climbing also)

Any advice on this tedious topic appreciated.

In reply to Nick U: Seems ok as you've included Alpine stuff. It also depends on the amount of the mortgage, is it 50k or 500k.

In reply to Nick U:
fook it don't tell em just doit. if yer die yer die

In reply to Nick U:

Who was this with? As can't get insurance for love nor money (to include climbing)

In reply to Nick U: Used an independent financial advisor to sort out mortgage insurance policy, covers climbing as part of its ocnditions. Cost around £40 pm. Quote slightly cheaper than quote from the BMC's financial brokers; my IFA used Norwich Union. Just arranged Life Insurance too using the IFA, again a better deal than BMC's financial brokers. It's good practice to ask around for quotes and then try an IFA. With respect to not having it or not declaring that you climb, wife and baby wouldn't appreciate losing house if I die or am unable to work. Consider what happens if you have a car crash:- if you don't declare a material fact to your insurers, then you risk your insurance being declared void. Happy hunting!

In reply to Removed User:

thanks jan.
My quote was with the bmc's brokers. maybe I'll look elsewhere also.

In reply to Removed User:

Norwich Union will certainly not pay out on life insurance if you die from a cause attributable to something you didn't tell them about. A friend of mine died of cyrhosis of the liver and they didn't pay out because he didn't tell them he drank more than the recommended limit of alcohol. Ditto if you don't tell them about your climbing they won't pay out if you kill yourself climbing.

And the premium will be based on the amount of insurance - it sounds like about £100000 there?

In reply to Father Faff: Yep, honesty is the best policy... and it certainly is the most expensive! It's also worth remembering that any request you make for, say, life cover is available to other insurers - not only the one you are getting a quote from - so that it's not worth changing your story to get cheaper cover! However, the charges for such policies do vary considerably depending when you take them out; I had a difference in monthly premium of £30 with exactly the same conditions and the same insurer, the two quotes being some eight months apart. Regards

In reply to Nick U:

I've got life quotes easily enough but cannot get anyone to cover me for mortgage protection/critical illness, any thoughts folks?

Insureres are wary as I work as an instructor. Anyone else in the industry had this problem?