Reduce mortgage term do I need to reduce mortgage protection?

bearbear

Registered User
Messages
9
Hi,

I took out a mortgage protection poilcy for 30 years (same as mortgage) but I've recently reduced the term of my mortgage to 24 years.

Do I need to reduce the term of my mortgage protection also or does it matter?

thanks,

BB
 
Doesn't matter and unless very expensive I wouldn't bother redoing it, it will still payout even if mortgage is finished although if a decreasing one then obviously the amount will be lower as the years go on.