ISA with Life Insurance included

SavingDad_3

I have an ISA that I pay into that provides LI and CIC during the term of the agreement to cover my mortgage. I want to set up another to provide additional life cover. I cant find a product like it anywhere. Do they still exist??

dunstonh

Effectively what you have is two individual products bolted together for administration purposes. It isnt really one product.

Its not a good way of doing things and was only a couple of bank/building societies did it that way to suit their purposes (rather than yours). You can still achieve the same thing but in a better way. Any local IFA will be able to help you with his.

kingstreet

You can now get the best/cheapest life cover and the best ISA in two separate plans, instead of having to buy a "bundle" where you could have been paying over the odds and not getting the best return.

marathonic

With separate products, you can choose to cancel or suspend contributions to either at any point in time should you enter tough financial times - leaving the other product in place.

With a combined product, you don't have this flexibility and are unlikely to be paying a lower premium due to the decreased flexibility.