We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
6 yr life insurance tie-in. Can I cancel??
wilsons
Posts: 87 Forumite
Hi,
Can anyone advise??…
If you have a life insurance policy to cover a period of six years (which was a requirement from the mortgage loan company), can you take out another life insurance policy from another provider that has a lower monthly premium and cancel the existing one? Will there be any comeback from the existing insurance company?
Thanks in advance….
Can anyone advise??…
If you have a life insurance policy to cover a period of six years (which was a requirement from the mortgage loan company), can you take out another life insurance policy from another provider that has a lower monthly premium and cancel the existing one? Will there be any comeback from the existing insurance company?
Thanks in advance….
0
Comments
-
If the terms of business with the person arranging it states that their fees are paid out of the commission and cancelling a policy will mean you have to pay the fees, then you need to take care. If the terms of business says nothing of the sort, then you can cancel life cover after the event if you desire.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.2K Banking & Borrowing
- 254K Reduce Debt & Boost Income
- 454.9K Spending & Discounts
- 246.3K Work, Benefits & Business
- 602.4K Mortgages, Homes & Bills
- 177.9K Life & Family
- 260.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards