Quote: Originally posted by Free2013 on 13/2/2014
That's a lot cheaper then the £35 per month I pay I will need to chat with see what I am paying for.
But. I was only 18 when I took it out (so hopefully low risk of dying!). I don't drink or smoke and didn't have any health issues.
It also wasn't for a massive amount of money, and was a reducing term policy (or something like that) where the amount of cover decreases each year in line with the mortgage. So by year 20, I'm still paying the same amount, but covered for a lot less than in year 3. I can't give you exact numbers because I really can't remember!
But it wouldn't do any harm to get a new quote, or make sure you're not paying for extras that you don't want.
Quote: Originally posted by jasie on 14/2/2014
just another thought...there is an old statute created around the time of the 1st world war re "insurable interest". this was created to stop you insuring your neighbour when they were drafted for example and you could only then insure someone that would cause direct financial detriment.
i wonder, does this apply after divorce and or any form of legal separation. as technically each party no longer has an insurable interest.
Insurable interest only exists after divorce if there is a financial implication of the death of the other party.
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Topic: Life insurance
