woods said:I have stopped paying cover that was listed as a requirement by the lender and they did not even notice. I paid the first year and then cancelled.
You can always get cover again if they make a stink about it but I think that they will not.
RS2K said:In general any debt should be covered by life assurance.
I dont see what the problem is if a party to the loan dies. The building will continue to generate the same amount of income and the payments will continue to be made. The only time that you need to have protection cover is when the building is not generating income (either business or investment) and when the death of the person will lead to an inability to pay off the mortgage.RS2K said:...false economy? What would happen if a party to the loan died?
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