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Endowment policy - does your change in circumstances affect the policy?

wazza
wazza Posts: 2,595
1,000 Posts Combo Breaker
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in Mortgages & endowments
Does any change in circumstances affect your endowment policy?

My policy was taken out in 1990. Since then i have remortgaged. Rang up the endowment people and they said it is fine. I am now unemployed. Do they need to know that?

Was wondering what affects the policy.

thanks in advance for any replies.
Problem with having access to internet is that i get asked by many to solve their problems :( Well at least i learn something on the way :D

Comments

  • dzug1
    dzug1 Posts: 13,535
    10,000 Posts Combo Breaker
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    Changes in circumstance rarely affect endowment policies - other than sometimes to remove the need for them

    The risk they cover (you dying prematurely) is fully accounted for when setting the original premium.

    being unemployed certainly has no bearing
  • McKneff
    McKneff Posts: 38,857
    Part of the Furniture 10,000 Posts Name Dropper
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    Maturity or Death !!!!!!!!!!!
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • McKneff
    McKneff Posts: 38,857
    Part of the Furniture 10,000 Posts Name Dropper
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    Sorry Wazza, couldnt resist, it's my Geordie sense of humour that is pure instinct

    Good luck to you.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Thrugelmir
    Thrugelmir Posts: 89,546
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    McKneff wrote: »
    Maturity or Death !!!!!!!!!!!

    Factual though. :eek:
This discussion has been closed.
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