Life Life insurance, just sold house.

Not_near_it

Registered User
Messages
27
Hi all.

So I just closed on my house sale which I had a life insurance policy for.
Do I now cancel the policy or can I leave it run for the sake of a few €€ per month.
I don't plan on buying again in the near future.

Thanks.
 
if it was a mortgage protection policy, cancel immediately as you cannot now benefit as there is no mortgage to protect! If it was a life assurance policy, then consider Stephen's reply above.
 
You can benefit from a mortgage protection policy when there is no mortgage.

Mortgage protection is a life cover plan that decreases in value over time. Once the mortgage is gone, the bank unassigns its interest in the policy and in the event of death during the policy term the amount of cover is paid to the estate of the deceased.

Steven
www.bluewaterfp.ie
 
You can benefit from a mortgage protection policy when there is no mortgage.

Mortgage protection is a life cover plan that decreases in value over time. Once the mortgage is gone, the bank unassigns its interest in the policy and in the event of death during the policy term the amount of cover is paid to the estate of the deceased.

Steven
www.bluewaterfp.ie
........
Not -Near.
Might be a good time to review what insurances, cover ,pension etc you have,
Just a suggestion.
 
A mortgage protection is a form of life assurance and the policy can be kept if required even if you have no mortgage.
 
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