I'm looking to switch our mortgage protection policy- joint life.
It costs 850 per annum.
Mortgage covered is 230k with 17 years left .
Death benefit only
Decreasing benefit .
The only thing it has that cheaper mortgage protection policies don't is a conversion option.
But since we can't lengthen mortgage term anyway (we're 50s) I guess that's useless?
Price wise cheapest option I can see is 600 approx per annum-Royal London with no conversion option.
There are a few other small differences like accidental death cover -150K with current policy.
But we have life insurance anyway so I'm thinking of switching.
Am I missing anything?
It costs 850 per annum.
Mortgage covered is 230k with 17 years left .
Death benefit only
Decreasing benefit .
The only thing it has that cheaper mortgage protection policies don't is a conversion option.
But since we can't lengthen mortgage term anyway (we're 50s) I guess that's useless?
Price wise cheapest option I can see is 600 approx per annum-Royal London with no conversion option.
There are a few other small differences like accidental death cover -150K with current policy.
But we have life insurance anyway so I'm thinking of switching.
Am I missing anything?