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Mortgage Life Insurance
Magic_Numbers
Posts: 17 Forumite
I have been SO disorganised with money/financial stuff over the years, and have given myself more than a few headaches in the past. I have been trying to savvy up a lot more recently & have sorted out a whole lot of things, including a reclaim for PPI on an old credit card, which landed me a nice cheque for around £1500.
I have been living in my current house for 8 years. We bought it (my wife & I) via Your Move.
At the time we were told we must take life insurance to cover the value of the mortgage - fair enough we thought - and they proposed us there & then to what is now Aviva (Norwich Union). The insurance wasn't agreed immediately and we had a few days wait until it was approved.
I have (stupidly) kept this policy going since then, and I admit I thought it was reasonable, but I didn't have any benchmarks to compare it to, and being naive I trusted Your Move to look after us.
I recently re-mortgaged - well, re-structured it somewhat & decided to see what life cover was out there as an experiment.
I am shocked to say the least. I was approved for cover (again, after a few days wait) by another insurer (Beagle Street) for more cover than Aviva, for around a third of the price!
I will be shopping this around, but is there any mileage in trying to claw back some money from Aviva/Your Move, or am I wasting my time & should I just move on & forget about it?
Lesson learned though...
I have been living in my current house for 8 years. We bought it (my wife & I) via Your Move.
At the time we were told we must take life insurance to cover the value of the mortgage - fair enough we thought - and they proposed us there & then to what is now Aviva (Norwich Union). The insurance wasn't agreed immediately and we had a few days wait until it was approved.
I have (stupidly) kept this policy going since then, and I admit I thought it was reasonable, but I didn't have any benchmarks to compare it to, and being naive I trusted Your Move to look after us.
I recently re-mortgaged - well, re-structured it somewhat & decided to see what life cover was out there as an experiment.
I am shocked to say the least. I was approved for cover (again, after a few days wait) by another insurer (Beagle Street) for more cover than Aviva, for around a third of the price!
I will be shopping this around, but is there any mileage in trying to claw back some money from Aviva/Your Move, or am I wasting my time & should I just move on & forget about it?
Lesson learned though...
0
Comments
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answered on your duplicate post. However, the answer is no (detail given on your other thread)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
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