Life Leverage existing Life insurance when trading up


Frequent Poster
Let's say I have current life insurance running to age 55 for €250,000. Policy was started at age 30 so premiums are low for this amount but the policy is not convertible.

At age 40, I am looking for a mortgage for an amount that is larger than that with a longer term, let's say to age 65 for €350,000.

I could just cancel the existing life cover and take out mortgage protection to run until 65 for the full amount.

I'm wondering if there's some better way of splitting the cover?
I thought about taking out a life cover policy for €100,000 to age 65 but the problem is that at age 55 the outstanding mortgage capital balance will still be greater than €100,000. I think I'd need €150,000 to cover the gap.