Personal insurance - need some

[NonnyMouse]

I have none and i'm not sure what exactly need.

I was thinking level-term for the mortgage (with add on critical illness) and a medium level PMI. However FA has suggested Permanent Health Insurance (aka long term Income Protection) which typically pays up to 60% tax free whilst unable to work, which i guess would pay most of the mortgage/bills.

What do other folks do?

[Pondlife]

which typically pays up to 60% tax free whilst unable to work, which i guess would pay most of the mortgage/bills.

Of your salary or total income including dividends?

[NonnyMouse]

Of your salary or total income including dividends?

I dont know - will check.

[TheFaQQer]

Term life insurance to cover me until I'm 65. Same for my wife.

[kaiser78]

Have you considered Relevant Life Assurance Cover, which is supposed to be a good life cover offering for small number employee ltd company set ups ?

[Alan @ BroomeAffinity]

Was just about to mention Relevant Life Cover. Life insurance paid by the company with no BiK. Not every company offers it though.

[kevpuk]

What these guys said ^^
MyCo has a Relevant Life plan in force - kind of replaces the Death-In-Service benefit that permies have - as it is the most tax efficient way to have life insurance cover for me. Wifety and kids are set up as Trustees.........speak to IFA

[TheCyclingProgrammer]

Level term policy for me for the next 20-25 years or so (can't remember the exact term) and soon to also have a joint decreasing policy for my wife and I once we complete on our house purchase, to cover off the mortgage balance.

My broker had to shop around a bit for me because even though I had quotes as cheap as £10-15/month the cheaper insurers wanted to load my policy due to some previous health issues. Ended up with L&G at £19/month for £400k level term cover. Relevant Life was an option but due to above issues, there wasn't one that would work out cheaper overall after the tax saving.

I considered things like critical illness cover but decided I was happy to maintain my savings and war chest at a reasonable level instead.

[kaiser78]

Level term policy for me for the next 20-25 years or so (can't remember the exact term) and soon to also have a joint decreasing policy for my wife and I once we complete on our house purchase, to cover off the mortgage balance.

My broker had to shop around a bit for me because even though I had quotes as cheap as £10-15/month the cheaper insurers wanted to load my policy due to some previous health issues. Ended up with L&G at £19/month for £400k level term cover. Relevant Life was an option but due to above issues, there wasn't one that would work out cheaper overall after the tax saving.

I considered things like critical illness cover but decided I was happy to maintain my savings and war chest at a reasonable level instead.

Critical illness shoots up the premium, but worth having a level of cover as well as life IMHO.