Y
yendor
Guest
Hi,
last year I took out a Life Assurance policy with a well known Agent/Broker. The beauty was that the first year costs were effectively nil.
Now I've received the new premium for the year at full whack. What's the downside in simply dropping this policy and triggering a new one, again with the first year for free more or less.
Both myself and the missus are in our 30s, non smokers so in that sense we're good risks. I appreciate that we wouldn;t be able to do this forever and at some stage be it turn 40/50/whatever companies might refuse cover, or charge additional. Though I would expect that they might do that anyway regardless of me building up 10+ years with them.
I can't see anything wrong with continuing this pattern for the next X years, thereby saving 500+ euros each year.
Am i missing something ?
TIA
last year I took out a Life Assurance policy with a well known Agent/Broker. The beauty was that the first year costs were effectively nil.
Now I've received the new premium for the year at full whack. What's the downside in simply dropping this policy and triggering a new one, again with the first year for free more or less.
Both myself and the missus are in our 30s, non smokers so in that sense we're good risks. I appreciate that we wouldn;t be able to do this forever and at some stage be it turn 40/50/whatever companies might refuse cover, or charge additional. Though I would expect that they might do that anyway regardless of me building up 10+ years with them.
I can't see anything wrong with continuing this pattern for the next X years, thereby saving 500+ euros each year.
Am i missing something ?
TIA