Mortgage Protection Policy

[DaveOC]

I will be drawing down on a mortgage for a new house in the next few weeks. I got the mortgage protection policy at the end of last year having been a little hasty and now the bank have said this policy will not cover the initial amount because of the time passed. Can I get the original policy adjusted or will I have to get a new policy?

Thanks in advance.

 

[Tessi]

You will have to get an new policy as far as I know but do ring them. I wanted to keep our mortgage protection but cancel our serious illness which was on the same policy but my insurance company insisted on our writing to cancel the first policy and setting up an new policy. I did cancel and ended up getting a better quotation from a different company. It certainly pays to shop around.