Consolidating Life Insurance Policies.

horseykitty

I have been doing a SOA on our finances - I have found out that we are paying 87.69 a month in life cover:eek: and I don't really know what is covered by them i.e. what we would get if the worst happened. I'm assuming lump sums and the mortgage paid off but i don't really know.

I pay just under £10, my husband £25.54 and a joint one of £52.80 we took out when we remortgaged the house. As the remortage was only £25,000 and I'm sure we are only in for a payout of around £150k if one of us snuffs it - I'm just wondering what we could get if we paid the total amount into one joint policy.

Sorry if I haven't explained this very well, any answers would be gratefully received.

magpiecottage

It is generally worth reviewing life cover periodically because your needs will change and also because anything running over a defined period is likely to be able to be replaced by something cheaper over the balance of the term.

Speak to a whole of market independent financial adviser - not a tied agent and certainly not a bank employee.