life assurance and trust

drmjafri

currently i am paying for life and critical illness. the premiums are high. So, I am about to sign for term life assurance and also sign it in trust

my query - can i cancel the policy in 2 years from now if needed and take entirely new policy- ie whole of life, pension. does putting in trust prevent me from cancelling the policy in furure

thanks

dunstonh

you can cancel later if you wish. Obviously, cover may be more expensive then and you may have a medical condition that makes it more expensive or prevents you getting cover. So, it is something you shouldnt really aim to do.

Putting it in trust doesnt prevent you as owner cancelling the policy.