# Cancel Life Insurance Policy??????????



## slimJim3600 (4 Feb 2004)

I have an Irish Life education policy since 1990. Its costing me €27 per week. And it seems to have made very little money.

Would n ow be a good time to cash it in, I really dont feel like spending 1400 euro a year in the hope that it will increase in value.

Any suggestions would be very much appreciated.

Slim


----------



## rainyday (4 Feb 2004)

What are the charges on your investment?


----------



## slimJim3600 (4 Feb 2004)

Not sure on that. the money is stopped out of the wages, so i have just been paying it over the years without question.

Maybe its just me but I think these types of products dont always produce the goods.

There is €200,000 worth of life cover on it.

It was supposed to be saving for a rainyday (sorry couldnt resist)

Slim


----------



## rainyday (4 Feb 2004)

These combined products (life insurance & investment all together) make it difficult to compare these products.
First of all, you need to decide if you actually want/need that life insurance cover. Then you need to check out the charges being deducted from your policy (contact Irish Life or your broker for details). Then you can compare against other optionis in the market.


----------



## Freddie (4 Feb 2004)

If you never needed the life cover then don't go back to the original vendor of this policy.

Contact Liam Ferguson.


----------



## jukeboxhero (6 Feb 2004)

*life*

cash in policy - invest proceeds as a single premium for 70 euro with www.labrokers.ie and buy  €200k worth of convertible term cover for say 20 years again with www.labrokers.ie - you will not get cheaper but they are execution only ie you have to know what you want - no questions


----------



## <A HREF=http://pub145.ezboard.com/baskaboutmoney.s (6 Feb 2004)

*Re: life*

Might the option to sell the policy (at least the savings part) be available and perhaps more prudent than simply cashing it in?


----------



## gerry (7 Feb 2004)

*not Irish Life......*

Not on an Irish Life policy since the year dot.


----------



## slimJim3600 (7 Feb 2004)

*Re: life*

yes,

thanks for for all your help folks, i think I might ring john in LA brokers to get some sort of cover for the next 20 yrs.

However I don t have a whole a whole lot of confidence in Irish life ( the company i am with) i have paid in 1`400 euro a year for 14 years and the thing is worth bo didley despite promises to the contrary.

Howewver I am sure I am not the only one in this situation

Its all a scam as far as i can see!

Once again 

ThANKS GUYS


----------



## rainyday (7 Feb 2004)

*Re: life*



> Its all a scam as far as i can see!


If this is really what you think, then surely you should run a mile from taking out any further life insurance policies.


----------



## Novice Investor (10 Feb 2004)

*Re: life*

Not to well up on these things,  but can you not stop paying into it, and leave it there to gain the maturity bonus whenever its due ?


----------



## gerry (10 Feb 2004)

*Irish life policy*

Maturity Bonus ? :lol  :lol  :lol


----------

