Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • Amanda_Cm
    • By Amanda_Cm 14th Mar 18, 8:14 PM
    • 152Posts
    • 162Thanks
    Life insurance questions
    • #1
    • 14th Mar 18, 8:14 PM
    Life insurance questions 14th Mar 18 at 8:14 PM
    Hello all.
    We just exchanged contracts on the purchase of our first home. Thinking about life insurance. Never had life insurance before. Don't know anything about it. I was looking around for quotes and noticed that every company is asking about period of time I would like to be covered. 25 years? As our mortgage? Can I cancel the policy if I don't want the insurance anymore or circumstances change?
    Are they any other things I need to be careful with?
Page 1
    • Weighty1
    • By Weighty1 15th Mar 18, 8:28 AM
    • 278 Posts
    • 104 Thanks
    • #2
    • 15th Mar 18, 8:28 AM
    • #2
    • 15th Mar 18, 8:28 AM
    Yes, you can cancel a policy if your circumstances change or if you decide you don't want it. Some brokers will charge a fee if you cancel within the first 2-4 years, however, you'd have to sign a client fee agreement before that became enforceable to it's something you'd know about up front.

    Things to be careful with...................take some advice! I mean, why take life insurance? Why not critical illness cover or income protection. You're infinitely more likely to be ill over the next 25-years than to die so protecting yourself against ill health would be a bet you are more likely to "win" on. If you speak to a broker who offers advice then they can go through the various options available to you both.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

116Posts Today

1,447Users online

Martin's Twitter