Life Insurance Q

GoonhillyGirl

Is there any issue with me paying the monthly premiums on a life policy for my partner that is written in trust for my benefit? I do not trust him to pay the premiums as he has been dishonest financially and is a gambler. We have a mortgage, not married, own property as joint tenants. I have a life policy through my job that would pay off the mortgage but he does not.Thanks

csgohan4

As long as he puts your account details for the Direct debit and the insurer is happy, you are after all the policy holder's partner there shouldn't be an issue


http://www.nhs.uk/Livewell/addiction/Pages/gamblingaddiction.aspx


for his gambling issues


Stepchange for debt issues

Weighty1

You may be best arranging the policy on a "life of another" basis. This means you not only pay the premiums but are also the policy owner and therefore have full control over the policy and will automatically receive the proceeds in the event of a claim.

GoonhillyGirl

Thank you both for taking the time to come back to me- your advice is really useful and much appreciated.