Life Insurance?

[earwig999]

If you have a mortgage is it a necessity or is it optional?

I canceled mine when I got laid of work and never renewed it, but now the financial advisor I arranged it with has written to me basically saying I need to set it back up again now I am working

 

[Bilals]

life insurance dont belive in it man.....

 

[mozr]

If you have mortgage you do not need life insurance or assurance. Some mortgages require you sign up as part of a mortgage agreement.

I would get it though. I really is worth it. If a bus hit you tomorrow, your partner wouldn't have to worry about the house.

Also if you do, look into putting the policy in trust to each other. Otherwise if it happens, the government will want their cut.

 

[hatab]

well he wants his cut every month......

but seriously it aint for you its for mrs and kids, if something does happen to you then they at least have the house paid up.

just make sure u arnt paying over the odds, b4 you sign up again find out how much is left on the mortgage and get a few quotes, u want a reducing cover arrangement.

 

[mozr]

In my experience financial advisor are crap anyway.

They have never found me anything I could not get my self, and also try to push rubbish on you for commission.

Do your research and scour the net for prices, and you will be fine. Balls to the IFA.