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endowment (critical illness)
mooted
Posts: 13 Forumite
approx 2yrs ago switched my mortgage to straight repayment, but kept my endowment running. my health state is not good and policy is covered with critical illness.
now my mortgage is straight repayment if policy pays out would i recieve whole money or would part be taken to cover mortgage.
cheers m.
now my mortgage is straight repayment if policy pays out would i recieve whole money or would part be taken to cover mortgage.
cheers m.
0
Comments
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The proceeds of an endowment policy are paid to the policyholder unless the policy has been assigned as security for the loan. Do you have the original policy document?
If you do, that's a good sign it isn't assigned.
If it was assigned previously, you may have the policy document back with a notice of reassignment included with it.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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