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Mortgage Assurance
christabell
Posts: 427 Forumite
I look forward to getting advice please.
On my 60th Birthday I got a lump sum and paid off my Santander Tracker Mortgage.:j As I have no dependants in the UK what do I with my Legal and General Mortgage Protection Insurance?
Its £11.25:eek:
Thanx
On my 60th Birthday I got a lump sum and paid off my Santander Tracker Mortgage.:j As I have no dependants in the UK what do I with my Legal and General Mortgage Protection Insurance?
Its £11.25:eek:
Thanx
Today, my BEST is good enough.
0
Comments
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If you keep it running and pass away before it expires then the sum assured will be added to your estate to be distributed as per your will.
If you cancel it you will have an extra 11 quid a month disposable incomeI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you for your reply
I have just looked at the policy...this is what it says...
Decreasing Term Assurance without profits
Policy Expires 28th July 2021
Do I keep it or not?
ThankxToday, my BEST is good enough.0 -
Up to you, which would you value the higher:
1. A lump sum payable if you die before 28th July 2021 equivalent to what your mortgage would have been (decreasing, remember), or;
2. An extra £11.25 per month in your pocket.
That's the question really.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
me thinks I will take the money
many thanksToday, my BEST is good enough.0 -
What could 11.25 get you now a days? a packet of crisps and a pint?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I suspect in a certain well known pub chain one of each a week "Wether" permitting.0
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