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life assurance and trust

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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

Comments

  • dunstonh
    dunstonh Posts: 119,623 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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