Can you clarify please? Do you have a general life assurance policy already and want to know if you can assign it to a lender for the purposes of mortgage protection life assurance cover? If so please post details of the policy. If not then why focus on Acorn Life rather than just shopping around for the best deal on mortgage protection life assurance?Does anybody have any information in relation to Acorn Life Insurance that can be used as life assurance for your mortgage and also as a life policy?
I said there some thing wrong here how in the hell do Acorn make money out of this. He didn't give me a straight answer, but mentioned that people pull out and they invest etc etc.
that's how reviewable whole of life policies are designed - cheap when you are a young low risk life but then become prohibitively expensive as you get older until the premiums become so expensive that the policy in cancelled by the insured.
The provider pockets years of paid premiums without having to pay out a cent.
If you want whole of life cover opt for the guaranteed premium type with no reviews. Do not purchase a hybrid policy consisting of a life insurance policy with some savings element. Keep your protection and savings needs separate.
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