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Discussion in 'Pay and conditions' started by newmummy1, Jan 12, 2016.

  1. newmummy1

    newmummy1 New commenter

    Hi, I wonder if anyone can help. My husband and I are both teachers in our 30s and are currently paying over £60 per month for life and critical illness cover which will pay off our mortgage if one of us dies or becomes very ill. I know there are teachers pensions benefits which will cover some of this so is it really necessary to be paying all this money?
  2. TheoGriff

    TheoGriff Star commenter


    Hullo there @newmummy.

    I'm afraid that I cannot give you any advice on this, and you would be better off consulting an insurance or pensions expert rather than taking advice from strangers on a public forum.

    Sorry that I can't give you the help that you hoped for.

    Best wishes

  3. Piranha

    Piranha Star commenter

    @TheoGriff is correct. I worked in finance for many years, and I could venture some sensible ideas, but to be sure, I would need to spend a lot of time looking at your personal circumstances. However, I can suggest that you look at what your financial needs are and check with the TPS what the benefits would be, and then decide if you would need more. If you do, then shop around to find the best deal.

    If you really need help on deciding, I would suggest trying to find a qualified advisor who would do it for a fee rather than one who gets their money from commission on whatever they sell you. I doubt if the latter would be keen to say "don't buy anything"!
  4. coppull

    coppull New commenter

    If you are in a Union,they can direct you to their financial consultants,who will be dealing with teachers all the time. Thus just checking one Union web site NASUWT . Their consultants are Wesleyan.
    Clearly we cannot give advice nor can your Union.
  5. newmummy1

    newmummy1 New commenter

    Thanks all. I wasn't going to discuss details with strangers on a public forum. Just wondering what others do. I have a financial advisor. Just not sure about the advice!
  6. wanet

    wanet Star commenter

    The TPS will give you information on the death in service amounts that you will be entitled to!

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