Just looking for some advice from those more knowledgable than us;
Myself and OH currently have endowment that obviously covers mortgage...
joint critical illness insurance-covers same amount as endowment....
and term insurance for each of us covering ¡ê135000

My question is were we done by financial advisor looking for commission?
Do we really need all this or are there better options?


Thanks all opinions welcome ||| ¡ê135k is actually very little by todays standards.

If you work on the 5% income rule, then ¡ê135k only provides ¡ê6750 income a year. If the main earner is on ¡ê25k a year say, then losing that and only getting ¡ê6750 is going to cause financial hardship potentially.

Nowadays, its normal for term assurance for family protection to be closer to ¡ê200-500k. ||| not sure I explained myself properly...
What I meant was....do we really need all these types of insurance?
Endowment also covers for critical illness so do we need separate C.I?
Hope this is clearer ||| Quote: What I meant was....do we really need all these types of insurance? No-one here knows your circumstances.

Quote: Endowment also covers for critical illness so do we need separate C.I? You will if you have a critical illness. Although a permanent health insurance policy ought to be prioritised before CI.