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Mortgage decreasing insurance or level term insurance
Fur156
Posts: 65 Forumite
Hi all MSE's.
I finally have my mortgage but I am wondering about insurances.
Would I be best off going for say a level term insurance so that if I die my partner gets enough to live on as well as being able to pay off the mortgage, or do I go with the decreasing mortgage cover.
My mortgage is over 35 yrs at the moment, but I do plan to be mortgage free a.s.a.p.
Any help out there would be much appreciated.
Thanks in advance.
Chris.
I finally have my mortgage but I am wondering about insurances.
Would I be best off going for say a level term insurance so that if I die my partner gets enough to live on as well as being able to pay off the mortgage, or do I go with the decreasing mortgage cover.
My mortgage is over 35 yrs at the moment, but I do plan to be mortgage free a.s.a.p.
Any help out there would be much appreciated.
Thanks in advance.
Chris.
Why do people feel the need to keep up with the Jones's ?? Why do some people feel the need to out do there friends and family ?? is this real happiness ??
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Comments
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Would I be best off going for say a level term insurance so that if I die my partner gets enough to live on as well as being able to pay off the mortgage
No.or do I go with the decreasing mortgage cover.
You have two needs. One is mortgage protection and the other is family protection. You take the decreasing term assurance for the mortgage and do a family income benefit or level term assurance for the family protection.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 -
Many thanks.
I hoped that it was yourself who replied.Why do people feel the need to keep up with the Jones's ?? Why do some people feel the need to out do there friends and family ?? is this real happiness ??0
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