J
jericho
Guest
I'm moving my mortgage after spending only a year with my previous provider. (Its a staff mortgage so worth moving as all fees/ costs are paid) Problem is that my life cover is now only for 29.5 years, and so my new lender said I can either sign a waiver, or get new life cover. Taking out a new life policy is a big hassle since I need to sign off the mortgage within the next 2 weeks. My understanding is that according to the policy I'll just be slightly underinsured, (ie, cover will be slightly less than the mortgage at any given time) which is not that big a deal. Are there any other potential issues that I've not taken into account?