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    • Amanda_Cm
    • By Amanda_Cm 14th Mar 18, 8:14 PM
    • 166Posts
    • 200Thanks
    Life insurance questions
    • #1
    • 14th Mar 18, 8:14 PM
    Life insurance questions 14th Mar 18 at 8:14 PM
    Hello all.
    We just exchanged contracts on the purchase of our first home. Thinking about life insurance. Never had life insurance before. Don't know anything about it. I was looking around for quotes and noticed that every company is asking about period of time I would like to be covered. 25 years? As our mortgage? Can I cancel the policy if I don't want the insurance anymore or circumstances change?
    Are they any other things I need to be careful with?
Page 1
    • Weighty1
    • By Weighty1 15th Mar 18, 8:28 AM
    • 306 Posts
    • 124 Thanks
    • #2
    • 15th Mar 18, 8:28 AM
    • #2
    • 15th Mar 18, 8:28 AM
    Yes, you can cancel a policy if your circumstances change or if you decide you don't want it. Some brokers will charge a fee if you cancel within the first 2-4 years, however, you'd have to sign a client fee agreement before that became enforceable to it's something you'd know about up front.

    Things to be careful with...................take some advice! I mean, why take life insurance? Why not critical illness cover or income protection. You're infinitely more likely to be ill over the next 25-years than to die so protecting yourself against ill health would be a bet you are more likely to "win" on. If you speak to a broker who offers advice then they can go through the various options available to you both.
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