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Do I need a new life insurance for each BTL mortgage?
VictoriaW9876
Posts: 2 Newbie
We have a few Buy-to- lets and currently have several life insurances running.
Do we need to pay out to several concurrent life insurances?
i wonder if they will all pay out, or whether we can do without some/most
it is an expensive extra monthly payment i would like to cut out
any advice please?
Do we need to pay out to several concurrent life insurances?
i wonder if they will all pay out, or whether we can do without some/most
it is an expensive extra monthly payment i would like to cut out
any advice please?
0
Comments
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Only you can decide if life insurance is necessary /desrable.
eg if you have no dependants, why do you care what happens after your death?
Assuming you DO decide that you want all your mortgages paid off on your death, then just do as any sensible person does and shop aound for the cheapest policy, or group of policies, that will pay out the amount of money on your death that you decide you need.
I'd guess (but it's just a guess!) that a single policy paying of an amount equal to all your mortgage redemption costs would be cheapest, but till you do your research ........ who knows?0
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