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Mortgage Protection Insurance for an over-50 year old
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Trolley1
Posts: 1 Newbie
Hello everyone - I need some advice. its been a long time coming but ive re-entered the property world and have just got myself a new pad after years of renting. thing is I am now over 50 and there is that cloud over me - as mortgage protection insurance. Do I need it? I tried a broker recently who shal remain nameless but they have been on telly recently and they told me that the "couldnt find anything suitable" So would i mind if they shared my details to a "special broker". obviously I said NO!!! so here I am - with a new mortgage and I need some help please!
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If you are single with no dependants, are you bothered if the mortgage is not paid off in the event of premature death?Trolley1 said:Hello everyone - I need some advice. its been a long time coming but ive re-entered the property world and have just got myself a new pad after years of renting. thing is I am now over 50 and there is that cloud over me - as mortgage protection insurance. Do I need it? I tried a broker recently who shal remain nameless but they have been on telly recently and they told me that the "couldnt find anything suitable" So would i mind if they shared my details to a "special broker". obviously I said NO!!! so here I am - with a new mortgage and I need some help please!
That's my status, and at age 67 I have remortgaged on the basis the mortgage will remain outstanding on death as part of an IHT mitigation strategy.0 -
What are you defining as mortgage protection insurance?Trolley1 said:Hello everyone - I need some advice. its been a long time coming but ive re-entered the property world and have just got myself a new pad after years of renting. thing is I am now over 50 and there is that cloud over me - as mortgage protection insurance. Do I need it? I tried a broker recently who shal remain nameless but they have been on telly recently and they told me that the "couldnt find anything suitable" So would i mind if they shared my details to a "special broker". obviously I said NO!!! so here I am - with a new mortgage and I need some help please!
Life assurance, critical illness cover, income protection insurance, payment protection insurance?
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.0 -
If they wanted to refer you to a 'special broker' it sounds like there could be medical disclosures which are outside of their knowledge base. Ultimately, it's not much harder to find mortgage protection as a 50-55yr old than it is as a 20-25yr old IF you are in good health.
What help is it that you feel that you need?0
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