HELP!!! Advice needed on Life Insurance Policy!

colocasidou

I really would appreciate any advice from anyone regarding Life Insurance.

Ever since I can remember my dad has been paying life insurance. He recently passed away and we have found out he stopped paying it. I have found about 10 - 15 Life Insurance Policy's which he used to pay, some dating back from 1980's up until around 2005/6?

He also had many private endowment policy's which unfortunately he cashed in early as he was in serious financial difficulty.

Is there any way any of the money he paid into Life Insurance can be claimed back? I don't care even if it takes 5 years to claim! We have been left with a huge mortgage that even our combined wage of 3 will struggle to pay back monthly, infact the repayments are interest only and for some reason are going up £8 a month!

Any advice would be greatly appreciated.

TEDDYRUKSPIN

Simple. Even he has'nt paid up the premiums they will be cancelled within 28 days. Therefore, none of his life cover was valid.

Does he have any death in service from his company? Any pensions?

If not, could you take on the mortgage?

If not.... you will have to sell.

Just remember that you mother if still alive will be able to receive a widows pension, something around £500 or less.

The mortgage repayments will only be helped out by the government until week 39. Allowances are the interest upto a maximum of £100k. Not arrears will be paid.

Phone the lender up! They are obliged to help out on such a scenario. You will still have to pay the mortgage though but may be stretched out further.

colocasidou

Hi

Thanks for the response.

He was actually self employed, I know he has always paid his NI and Tax upto date as that was important to him to receive his pension.

The mortgage is too huge for me to take on unfortunately I mean me, my husband, my brother and my mum all live in this house too. If we sell it we will have no where to live and to be honest the early repayment fee to get out of the mortgage is £30,000 upto end on 2009.

I will call the lender and speak to them as you have suggested.

Thanks again!