Aviva / Legal and Gen question

georgiks

So coming out of my acc each month are equivalent payments to Aviva Life and Legal and General MI C/L - Am I paying twice for the same thing or is one covering me in terms of sickness and one in terms of death? (Got I think for various mortgages at different times). And if I should ditch one, which one should i keep? I'm assuming it's not possible to get a penny back if i have duplicated - or that money accrued could be transferred to any of their other products, for instance a pension... ?

Sandtree

No way of knowing from just DD Payee names.

The L&G one can be life, critical illness or income protection and would imagine Aviva Life isnt dissimilar. Even if its the same class of product doesnt mean its wrong to hold more than one... you mention having various mortgages and so they may or may not have been decreasing term Life or CI products associated with those mortgages but they're not tied products so dont end when the mortgage is paid off early.

You need to get information from L&G and Aviva on what the products are and then assess them against your current needs. Most products sold these days as straight insurance products rather than the hybrid insurance and investment of a couple of decades back and therefore they hold no surrender value if you decide you no longer need their protection.

dunstonh

Aviva and Legal & General are large issurers that offer cover in a wide range of areas.  Life assurance, income protection, critical illness cover, home insurance, car insurance, pensions and a whole range of other general insurance products.    
We cannot know what you have.

Old_Lifer

Why not read your documentation ?      Presumably you keep it in a safe place.