We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage Critical Illness
jimmy_boy81
Posts: 47 Forumite
Hi all
Bit of a random question. Im selling my flay and a price has been agreed and my buyer has had his mortgage agreed. Im extending my lease on the flat and Section 42 notice has been served and all seems to be going swimmingly.
Im expecting completion on the sale in mid august - what im looking for an answer is is it worth cancelling the critical illness cover in advance as ive got 6 weeks left before the mortgage is effectively settled?
Bit of a random question. Im selling my flay and a price has been agreed and my buyer has had his mortgage agreed. Im extending my lease on the flat and Section 42 notice has been served and all seems to be going swimmingly.
Im expecting completion on the sale in mid august - what im looking for an answer is is it worth cancelling the critical illness cover in advance as ive got 6 weeks left before the mortgage is effectively settled?
0
Comments
-
Why would you cancel it at all?
Don't you want to protect your lifestyle if your health fails?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Having any insurance is not part of the mortgage so you can have one without the other (mortgage and no insurance or insurance and no mortgage). However, not having one, does not mean you do not need the other.
What would happen if something were to happen to your health? Would you still want a lump sum of money to come in? It could pay for private treatment, allow you to take time off work etc.I am a Mortgage AdviserYou 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 -
What if the sale doesn't complete?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards