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life insurance term
slacky1230
Posts: 44 Forumite
hey guys
looking to get life insurance for me and my partner. now i was looking at the one which decreases as your mortgage term goes down. Whats the difference if i take the policy out for 5-10 years then start again when it finishes or pay more a month and take it out for 35 years (mortgage term)?
Cheers
looking to get life insurance for me and my partner. now i was looking at the one which decreases as your mortgage term goes down. Whats the difference if i take the policy out for 5-10 years then start again when it finishes or pay more a month and take it out for 35 years (mortgage term)?
Cheers
0
Comments
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You take a policy with term to match your mortgage.
Any other way involves risk ur cover may run out and you may not be able to renew.
Say you take a 5 year policy and in year 4 you have a heart attack - you'll be almost uninsurable and your policy will end and you have nothing.I am a Financial Adviser specialising in Mortgages, Protection, Health and Medical Insurance. I also write wills. All information posted on this site is for discussion only, and should not be taken as advice.0
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