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Decreasing Term Assurance help
mdoran1974
Posts: 6 Forumite
Hi all.
Wondering if someone could offer a little advise....
Bought our first home last year and we had to get Decreasing Term Assurance with critical illness. Now this costs us £138 a month, which I feel is too much. Am I able to go looking for a better deal, if I am do I need to inform our mortgage company etc? Or our we stuck with this for another 24 years?
Thanks for looking
Mike
Wondering if someone could offer a little advise....
Bought our first home last year and we had to get Decreasing Term Assurance with critical illness. Now this costs us £138 a month, which I feel is too much. Am I able to go looking for a better deal, if I am do I need to inform our mortgage company etc? Or our we stuck with this for another 24 years?
Thanks for looking
Mike
0
Comments
-
Check the wording of your mortgage offer for any conditions surrounding this insurance requirement
Also check any agreement you signed with whichever salesman you used to buy the policy regarding any commission clawback penalty you have agreed to pay should you cancel the policy early and factor any penalty cost against any savings you can make going elsewhere0
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