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!
Do I need life insurance
bluelee75
Posts: 6 Forumite
This may sound a bit silly but I get v confused about insurance!!
Basically, I have a buy to let mortgage for a flat that I lived in for a year but have been renting it out for the past 7 years. When I bought the flat, I took out life insurance with Scottish Provident to cover me in case anything went wrong (redundancy, illness that kind of thing). However, now I am living with my husband and we have insurance on our residential mortgage, it has just occurred to me that I am probably paying out £23 for insurance each month that I don't need! I have buildings and contents insurance on the buy to let - is that enough, or should I have mortgage payment/life insurance on it as well? Any advice is gratefully received!
Basically, I have a buy to let mortgage for a flat that I lived in for a year but have been renting it out for the past 7 years. When I bought the flat, I took out life insurance with Scottish Provident to cover me in case anything went wrong (redundancy, illness that kind of thing). However, now I am living with my husband and we have insurance on our residential mortgage, it has just occurred to me that I am probably paying out £23 for insurance each month that I don't need! I have buildings and contents insurance on the buy to let - is that enough, or should I have mortgage payment/life insurance on it as well? Any advice is gratefully received!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards