N
Noirin08
Guest
We took out a Laser Life Assurance policy with Hibernian Insurance (now Aviva) in May, 1986, Whole of Life, IR£40,000 first death, IR£30.00 premium per month.
The policy included a savings element and we withdrew £2,500 in September 1999, leaving a balance Life Assurance of £37,500. In Euro terms, this is €44,695 and premium of €45.20.
We've just been informed that the premium will be €154.70 pm (an increase of €109.50 pm, approx. 342%). They said the current premium is not enough to sustain the life assurance. They said they do reviews. I asked why they didn't realise it in the last review or the previous one, 8/10 years ago, when, if they had increased it to say €60 pm, we could afford it.
Any advice would be very welcome. Thank you.
The policy included a savings element and we withdrew £2,500 in September 1999, leaving a balance Life Assurance of £37,500. In Euro terms, this is €44,695 and premium of €45.20.
We've just been informed that the premium will be €154.70 pm (an increase of €109.50 pm, approx. 342%). They said the current premium is not enough to sustain the life assurance. They said they do reviews. I asked why they didn't realise it in the last review or the previous one, 8/10 years ago, when, if they had increased it to say €60 pm, we could afford it.
Any advice would be very welcome. Thank you.