B bearbear Registered User Messages 9 6 Feb 2021 #1 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
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
M Monbretia Registered User Messages 2,891 6 Feb 2021 #2 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.
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.