Can anyone give me some advice on the following.
We have two properties, one an investment and the other our primary residence. We currently have three insurance policies. Two policies that are linked to the mortgage lenders and the other is for a lump sum payment if either myself or my husband died. Because we pay over 300 a month for these three policies, we would like to get rid of the one covering the investment property. Does anyone know if this is possible and more so advisable? I am wondering if the mortgage lender will allow us do it?
We have two properties, one an investment and the other our primary residence. We currently have three insurance policies. Two policies that are linked to the mortgage lenders and the other is for a lump sum payment if either myself or my husband died. Because we pay over 300 a month for these three policies, we would like to get rid of the one covering the investment property. Does anyone know if this is possible and more so advisable? I am wondering if the mortgage lender will allow us do it?