Does anyone know whether any of the insurers will sell a life assurance policy of just one year's duration, which could be used as a mortgage protection policy? Or is 10 years the shortest duration (and cancel after year 1)? ...I assume the monthly premium for a 10 yr policy would be higher than that for a 1 yr policy since there's a greater chance of death during a 10 yr period than a 1 yr period so that's what an agent would try to sell, but if a one yr term is possible that's all I need...
(I have a separate investment which will mature in a year's time which I will use to pay off the mortgage, so I don't need more than one year's protection.)
Thanks.
(I have a separate investment which will mature in a year's time which I will use to pay off the mortgage, so I don't need more than one year's protection.)
Thanks.