[Joe H]

The tragic loss of Lincoln Harris, the guy from the Alltec setup (see "truckmount for sale") and one of our colleagues earlier this year highlighted the need to make provision for whom we leave behind.
I think a big lesson to be learnt for us all as self employed.
We need insurance (of different sorts) and its something that we perhaps gloss over when starting in business.
We insure our van, the contents, the clients property, our employees, but we need personal insurance too.
All of this needs to be reflected in the price we charge.

[Ricky M]

Joe ur so right After JG and my mother passing away a few weeks later im now insured for £225k , its not masses but it will help my family in the event of me kicking the bucket

[Barry Livingstone]

Tell that too the happy slappers that charge £45 to clean a suite and carpet!! Half this INDUSTRY are happy slappers Id say only about 10% of carpet cleaners Charge more than £70.00 to clean a suite..

[Mike Osbourne]

It's more about personal choices and your attitude to risk. How many smoke, have the latest fancy phone on contract, yet have three kids and no life insurance. They could afford it but it's not going to happen to YOU.

[clinton]

Was just thinking the same as you posted mike..

[Joe H]

Thinking a long time Clinton.
Mike posted 08.52am you posted 03.22pm   

Where was your phone call today whilst I was cleaning that suite with the remote in my hand?

[markpowell]

Tell that too the happy slappers that charge £45 to clean a suite and carpet!! Half this INDUSTRY are happy slappers Id say only about 10% of carpet cleaners Charge more than £70.00 to clean a suite..

I think you will find that its the other way round, only 10% of cleaners will do a 3pc suite and a carpet for £40.00.
Your right Joe we should all have personal insurance, i do not have any, i have thought about it several times but never got round to it.
I will sort some out online tonight, can anyone recommend the best providers.
Cheers Mark

[Bob Robertson]

Does anyone have private medical care like BUPA? If so how much does it cost.

Bob

[Doctor Carpet (Ret'd)]

Bob

Yes. But the answer is the same as saying how long is a piece of string.

You can get different levels of cover so more or less illnesses or the like are covered. You can defer the time before you can claim to keep down the premium and also by agreeing an excess on each claim.

There are also "no claim discounts" available.

Your general health and lifestyle can also affect it (eg smoking) and also your age. Premiums will always go up and there are age-breaks as well when larger than normal increases can kick in. Some companies have these every 5 years other every 10.

Also depends if you have any existing ailments which they may exclude or possibly include if you have had no medical consultations about it in the previous 2 years. Finally it can also depend upon how many people you wish to cover eg. spouses and children.

To put the theory into practice I have lost my no claims for the moment. I'm mid 40s and to cover both myself and my wife costs just over £100 per month. My excess for each claim is £250 per claim year.

I consider it money well spent.............especially as I've claimed over £30,000 worth of use for premiums of about£5500.

Roger

[Len Gribble]

Bob

Yes about £60 per year Beneden tagged on to brother-in-laws

Len

[Ricky M]

I think I pay £22 ( mrs is covered too) a month but its all linked into the biz so thats cover as well and its all deductible , if anyone wants my financial advisors No. I will gladly pass it on .
Nice bloke , not up his own arse and doen to earth   

[Doctor Carpet (Ret'd)]

Ricky

You probably won't find it's tax deductible as it would be covered on your P11d or equivalent as a benefit in kind.

Roger

[Dave_Lee]

Some good advice to those who are some years younger than myself (yes, I know that means almost everyone).
With each year life insurance becomes more expensive - get it now!
Do not wait until you suffer an unexpected health problem, as you may be refused cover all together.
The younger you are, the cheaper LI is, after 50 it rockets by comparrison.
Earnings protection insurance will only give you cover up to your 65th birthday.
Whole life insurance gets very expensive for new cover, as you get older.
Term insurance cover is still available for even for the over 60's like me. Ive just had a quote for 10 year policy cover of £100,000 at monthly premium of £70.
Insurance = Peace of mind.
Dave.

[derek west]

but then you hear horror stories of them not paying out cos you eat macdonalds or your wife has a middle name and you didn't put it on the form.
read the small print, sometimes they won't pay out if you die a certain way.........etc.......etc.....

derek

ps..... no i haven't but its got me thinking, maybe i should. its a gamble either way.

[Doctor Carpet (Ret'd)]

Correct Derek

It's because contracts are known as "urberimae fideii" or in English "Utmost good faith". In other words you self certify many applications and if you tell porkies then if found out the company won't pay out and you've wasted good money.

Incidentally life insurance is always cheaper than life assurance. You get insurance because you may die before a certain date. If you don't die there is no pay-out. Assurance means that the policy will (eventually) pay out no matter what.(Unless your called Methusula!)

The trick with life insurance is you've got to die to win

So also consider Permanent Health Insurance which will give a nice pay-out if you say have a heart attack, or lose a limb; or perhaps Critical Illness which will payout if you get say cancer. In which case you get lots of money to allow you to live even though you can't earn it because of your illness.

[Barry Livingstone]

Mark READ what i said.... ONLY 10% of carpet cleaners on here charge MORE than 70 tp clean a suite!!! No where did I say 10% of cleaners do a suite and carpet for £40.00!!!!

Tell that too the happy slappers that charge £45 to clean a suite and carpet!! Half this INDUSTRY are happy slappers Id say only about 10% of carpet cleaners Charge more than £70.00 to clean a suite..

I think you will find that its the other way round, only 10% of cleaners will do a 3pc suite and a carpet for £40.00.
Your right Joe we should all have personal insurance, i do not have any, i have thought about it several times but never got round to it.
I will sort some out online tonight, can anyone recommend the best providers.
Cheers Mark