Sarah, 32, and her husband Mark, 34, live in London. They have two daughters, Lisa and Becky, aged four and two. Sarah is a primary school teacher and Mark is a train driver. Their combined salary is £55,000. They do not have any kind of insurance, but after recently buying their first house, they know they need some form of protection. Their budget is tight as their monthly mortgage repayments are £1,000 a month. At most, they can afford £50 a month. What recommendations can you make?
Penny O'Nions, The Onion Group Sarah and Mark have responsibilities in the form of debt and dependants. These should be covered by a comprehensive protection portfolio as few new home owners could support a mortgage on their own - but this couple are constrained by the cost of two small children and a budget of £50 for insurance. This means the package chosen will have to be from a company offering menu-based benefits and will ultimately be a compromise, so it is important to dovetail (not overlap) the benefits offered by their respective employers. In general, teachers and train dr...
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