I have an Ark Life Convertible Protection Plan with cover of 266,000 and monthly premium 28.80. I have no idea if this is good or bad value.
Hi @LDFergusonIt's impossible to say without knowing your age, whether or not you smoke, the same for any second person covered on the policy (if applicable) and how long is left on the policy.
That said, if you have no dependents and no other debts, I wouldn't see the point in having more life insurance cover than the bare minimum you need. How long is left on your mortgage now?
Regards,
Liam
www.ferga.com
Hi @LDFerguson
Non Smoker
46
Single
Male
Policy runs until 2040.
I left the term of the mortgage unchanged and reduced the monthly repayment. Remaining Bal 11K approx. My thinking was primarily to avoid having to take the deeds and leave open the option of a top up.
Assuming that you're in good health, you could have life cover of >€11,000 for the next 18 years for €10.10 per month - minimum premium.
Hi there, you seem like a person in the knowIt's impossible to say without knowing your age, whether or not you smoke, the same for any second person covered on the policy (if applicable) and how long is left on the policy.
That said, if you have no dependents and no other debts, I wouldn't see the point in having more life insurance cover than the bare minimum you need. How long is left on your mortgage now?
Regards,
Liam
www.ferga.com
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