legal and general mortgage insurance

-taff

Life insurance with fixed cover is more expensive than decreasing term insurance.
The first gives you a payout regardles of what you owe on the mortgage, the second only pays off your mortgage

[well, not you, or your mortgage obviously because you'll be dead, your dependants, or benficiaries would benefit...]

jojomomo

dunstonh wrote: »

Although you did say that you were told that insurance was compulsory.

It is not unknown, especially for estate agent advisers (which is the worst for reputation) to use wording that makes it sound like its the lender. So, it is quite possible, indeed, probable you were told in a way that was not totally correct. However, I bet none of the paperwork says that and you can bet your life, if you did complain, that nothing would be found to say that. They would then look at suitability of product and advice and as what you have is suitable, they would reject the complaint.

Was told that the insurance was required by the lender, never said that her service came with the obligation of taking out an insurance product.
Yes, I know there is nothing in writing about this, so there is no point of making a claim.
I'm not anti-insurance, just felt a bit annoyed with that sales tactic.