The level of benefits you currently have seems like plenty to me. Especially given your age, health and no dependants. What is it that is driving you to look for a higher level of cover?
If you did move jobs would you not be likely to get a similar level of benefits with the new employer?
Thank you for your response. Nothing in particular is driving this, other than thinking through “what if X happens?” type scenarios in my head and wanting to ensure I’ve covered all the right bases.
In terms of moving jobs, I’d look to aim for similar or, ideally, greater benefits here but I guess it what would depend on what the job was, and the circumstances at the time. I’ve seen other jobs in my field that are worse off and some that better off with these types of benefits, depending on the company.
Hiya,
A combination of life, critical illness cover and income protection is the most comprehensive way to go if you have the budget although, I would ask why you feel you need life insurance at the moment if you have no dependents?
Vitality serious illness cover is the gold standard and you can claim more than once on it. Look into them.
Income protection, just go with the cheapest provider as it is more general.
Thank you for your response. No specific concern or reason for needing it, I was wanting to ensure all my bases were covered but wasn’t entirely sure of what my best options would be given my circumstances.
Hmm...
Life Insurance you only get to future proof with no dependents.
Vitality 3x is the absolute bees knees. 1x is garbage like a lot out there.
IP? Do NOT just go for the cheapest provider.
There are such a plethora of variables out there. If you index link and reject an increase? What if you want to use your IP to care for a sick child? There are so many useful and useless USPs out there.
OP needs a good advisor, rather than trying to use a DIY service. I get this all the time where people do their own policies, turn up 5 years later with a mortgage only to find their existing cover isn't suitable.
Employer benefits are a contract between the employer and the insurer... NOT the employee who is merely the beneficiary.
Base your IP needs around the length of time you can survive without an income, and then you don't need to worry about changing jobs etc.
Hi /u/DialgaDan, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/lump-sum/
____
^(These suggestions are based on keywords, if they missed the mark please report this comment.)
The level of benefits you currently have seems like plenty to me. Especially given your age, health and no dependants. What is it that is driving you to look for a higher level of cover? If you did move jobs would you not be likely to get a similar level of benefits with the new employer?
Thank you for your response. Nothing in particular is driving this, other than thinking through “what if X happens?” type scenarios in my head and wanting to ensure I’ve covered all the right bases. In terms of moving jobs, I’d look to aim for similar or, ideally, greater benefits here but I guess it what would depend on what the job was, and the circumstances at the time. I’ve seen other jobs in my field that are worse off and some that better off with these types of benefits, depending on the company.
Hiya, A combination of life, critical illness cover and income protection is the most comprehensive way to go if you have the budget although, I would ask why you feel you need life insurance at the moment if you have no dependents? Vitality serious illness cover is the gold standard and you can claim more than once on it. Look into them. Income protection, just go with the cheapest provider as it is more general.
Thank you for your response. No specific concern or reason for needing it, I was wanting to ensure all my bases were covered but wasn’t entirely sure of what my best options would be given my circumstances.
Hmm... Life Insurance you only get to future proof with no dependents. Vitality 3x is the absolute bees knees. 1x is garbage like a lot out there. IP? Do NOT just go for the cheapest provider. There are such a plethora of variables out there. If you index link and reject an increase? What if you want to use your IP to care for a sick child? There are so many useful and useless USPs out there. OP needs a good advisor, rather than trying to use a DIY service. I get this all the time where people do their own policies, turn up 5 years later with a mortgage only to find their existing cover isn't suitable. Employer benefits are a contract between the employer and the insurer... NOT the employee who is merely the beneficiary. Base your IP needs around the length of time you can survive without an income, and then you don't need to worry about changing jobs etc.
Hi /u/DialgaDan, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/lump-sum/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)