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life insurance on increased mortgage
girlsmum
Posts: 472 Forumite
I have recently increased my mortgage by about £20k I have mortgage term decreaing life insurance with CI cover, but not to cover this £20 k,
I have asked about increasing the cover, but the premium would more than double (i guess DH and i are a bit older now)
So i was just going to get a fixed joint one (first death only) to cover this amount its for about 20 years, the premiums seem reasonable about £10 per month. can anyone see a problem with me doing this. only think i can see is the CI cover?
not really clued up on LI policies to be honest
thanks
Amanda
I have asked about increasing the cover, but the premium would more than double (i guess DH and i are a bit older now)
So i was just going to get a fixed joint one (first death only) to cover this amount its for about 20 years, the premiums seem reasonable about £10 per month. can anyone see a problem with me doing this. only think i can see is the CI cover?
not really clued up on LI policies to be honest
thanks
Amanda
0
Comments
-
Is that for a complete new one or top up?
Is it guaranteed or reviewable premiums?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 -
its for the top up one and as far as i could see it was guaranteed premiums, but now that you mention that i will look into it more
thanks0
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