Long story short - took out a policy over 6 years ago via a broker with Acorn Life.
Finally seen the light today and I am in the process of cancelling this as I realise this type of policy does not have my best interest at heart.
Just wondering after paying 6 years of premiums for Life Cover and Critical Illness Cover can I get anything back after I cancel.
To give people an idea:
Life Cover for 320k
Illness Cover for 130k
Monthly premium at 81 euros.started out at 50.
29 years left on mortgage
Tbh it is probably good cover as of today as we are young and only 6 years Ito the policy but can see this increasing and increasing as the years go by.
Have decided to go with a term life which I understand will involve the same monthly premium for the termof the mortgage.I also did not realise that besides the inflation rise which is fine that I can expect a review after 10 years which will likely drive up the premium.
Any thoughts appreciated.understand Whole of Life policies are no longer offered.
Mods, feel free to adjust as necessary.
Finally seen the light today and I am in the process of cancelling this as I realise this type of policy does not have my best interest at heart.
Just wondering after paying 6 years of premiums for Life Cover and Critical Illness Cover can I get anything back after I cancel.
To give people an idea:
Life Cover for 320k
Illness Cover for 130k
Monthly premium at 81 euros.started out at 50.
29 years left on mortgage
Tbh it is probably good cover as of today as we are young and only 6 years Ito the policy but can see this increasing and increasing as the years go by.
Have decided to go with a term life which I understand will involve the same monthly premium for the termof the mortgage.I also did not realise that besides the inflation rise which is fine that I can expect a review after 10 years which will likely drive up the premium.
Any thoughts appreciated.understand Whole of Life policies are no longer offered.
Mods, feel free to adjust as necessary.