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
Decreasing Term Assurance
MRSDPE
Posts: 3 Newbie
My husband has an assurance policy which includes Terminal Illness Cover running from 2005-2015, he has recently sold the house it is for so our question is: does the policy still cover my husband for death until 2015? Or is it purely on the house so now null and void?
We are prepared to continue to pay as my husband is ill so it may eventually be to my benefit but obviously there would be no point in continuing if it is against the house only?
We are prepared to continue to pay as my husband is ill so it may eventually be to my benefit but obviously there would be no point in continuing if it is against the house only?
0
Comments
-
The term assurance is standalone and has no direct link to the mortgage. It pays out whether there is a mortgage or not.
However, the benefit in the later years may not be worthwhile keeping. So, you need to consider if it is worth it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you for the prompt response!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