J
Joe1968
Guest
I had to get mortgage protection insurance when I got my mortgage a few years back. I got the least expensive product I could find and got it separately from the Bank that gave me the mortgage. I think its called term insurance. Anway, I didn't want to get this insurance as i have no family but was told i had to get it. It is paid monthly from my account.
I resent spending money every month on this insurance that I don't need and a thought has crossed my mind: Can I simply cancel the direct debit paying my insurance?..surely this would lead to it being cancelled.
Will the bank find out since after all the insurance is separate to the bank? Will they or anybody else care?What is the worst case scenario if I do cancel the insurance?
Thanks
I resent spending money every month on this insurance that I don't need and a thought has crossed my mind: Can I simply cancel the direct debit paying my insurance?..surely this would lead to it being cancelled.
Will the bank find out since after all the insurance is separate to the bank? Will they or anybody else care?What is the worst case scenario if I do cancel the insurance?
Thanks