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dilbert27
Guest
Got a mortgage 4 years ago and my dad went on it to secure it for me. All repayments are made by me.
The life assurance had to cover us both as we were both on the mortgage.
Dad in his 60's and smoker at the time.
Me (male), mid 20's non smoker.
Cover is 117 euro a month. I didn't think anything of this until a bank manager told me 2 months ago that it seemed really high for me.
I checked a recent survey and the company I'm with offer life assurance for a 30 year old non-smoker for about 26 euro a month which means I'm paying 90 euro a month to have my dad's name on the mortgage!
So the query is, does my dad have to be on the life assurance policy?
The life assurance had to cover us both as we were both on the mortgage.
Dad in his 60's and smoker at the time.
Me (male), mid 20's non smoker.
Cover is 117 euro a month. I didn't think anything of this until a bank manager told me 2 months ago that it seemed really high for me.
I checked a recent survey and the company I'm with offer life assurance for a 30 year old non-smoker for about 26 euro a month which means I'm paying 90 euro a month to have my dad's name on the mortgage!
So the query is, does my dad have to be on the life assurance policy?