Decreasing term life assurance help

panda_pop

Been reviewing my financial policies following the sale of my property and full repayment of mortgage.

Have discovered a 12 year old policy for mortgage life insurance. It's a decreasing term without profits sum assured with Aviva.

I only pay £5 per month and have been informed by Aviva that it has critical illness cover included.

As the payout decreases over time, is it worth keeping this policy open or taking out a new life insurance policy in the event of my death?

Any advice gratefully received thanks.

InsideInsurance

If its worth it depends on what other protection you have in place and what your plan is if tomorrow you fall down the stairs, break your back and spend the rest of your life in a wheelchair? How do you pay your mortgage/ rent? How do you fund adapting your property?

Really you'd be better off having a review of all your current policies inc any from work and your plans/ objectives with an IFA or protection broker to get a more informed opinion based on the bigger picture

panda_pop

Ok thank you as I thought.

Best book an appointment with an IFA.

Many thanks