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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
MFW with question about Life assurance
spinney123
Posts: 8 Forumite
Hello everybody,
This is my first time posting so apologies if this is in the wrong place! I am a long time lurker who reads everyones posts with interest and have been on my own Mortgage Free Journey for some time now. I hopefully will be Mortgage free the December which I am very proud of.
I am a married 33 year old with a 2 year old boy and another well on the way (due in 4 weeks). Myself and my husband have been overpaying our mortgage for a number of years. We bought the house in Dec 2003 for £170k and took out a mortgage then for 125k over 25 years. However we also took out a life assurance policy with critical illness at that time (the type that reduces with every year you pay off your mortgage) Its just dawned on me that this won't be correct anymore. I'm looking for some advice...should I cancel this policy? change the terms on this policy? or do I need to be looking at another form of life insurance? I've very confused so any advice/thoughts would be much appreciated.
Thanks for reading
This is my first time posting so apologies if this is in the wrong place! I am a long time lurker who reads everyones posts with interest and have been on my own Mortgage Free Journey for some time now. I hopefully will be Mortgage free the December which I am very proud of.
I am a married 33 year old with a 2 year old boy and another well on the way (due in 4 weeks). Myself and my husband have been overpaying our mortgage for a number of years. We bought the house in Dec 2003 for £170k and took out a mortgage then for 125k over 25 years. However we also took out a life assurance policy with critical illness at that time (the type that reduces with every year you pay off your mortgage) Its just dawned on me that this won't be correct anymore. I'm looking for some advice...should I cancel this policy? change the terms on this policy? or do I need to be looking at another form of life insurance? I've very confused so any advice/thoughts would be much appreciated.
Thanks for reading
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards