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decreasing temporary assurance with critical illness cover
scousepab
Posts: 9 Forumite
Hi,
just reveiwing our finances, and read Martins comments on insurance policies, particuarly critical illness cover, i took out a joint decreasing temporary assurance with critical illness cover 8 years ago, term of policy has another 6 years on it ,premium is £64 per month, this was to cover a mortgage we had at the time. however,we no longer have a mortgage ,as we are now renting. i would like to reduce the amount of premiums we are paying, the current policy is reducing each year, and has no cash in value at end. i have been looking at a basic policy to cover my wife and i,
i am interested in the over 50s plan, this covers you for life with a modest guaranteed sum on death ,we now feel this would be adequate, kids have left home now, so no dependants as such, over 50s plan costs about £10 per month each for aprox £3000 of cover each. good move to change policy or not, opinions welcome
just reveiwing our finances, and read Martins comments on insurance policies, particuarly critical illness cover, i took out a joint decreasing temporary assurance with critical illness cover 8 years ago, term of policy has another 6 years on it ,premium is £64 per month, this was to cover a mortgage we had at the time. however,we no longer have a mortgage ,as we are now renting. i would like to reduce the amount of premiums we are paying, the current policy is reducing each year, and has no cash in value at end. i have been looking at a basic policy to cover my wife and i,
i am interested in the over 50s plan, this covers you for life with a modest guaranteed sum on death ,we now feel this would be adequate, kids have left home now, so no dependants as such, over 50s plan costs about £10 per month each for aprox £3000 of cover each. good move to change policy or not, opinions welcome
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