When I took out my mortgage I assigned my life policy to my lender. Some years later I remortgaged and was again asked by the lender to take out a new life policy for a higher amount and assign it also to them which I did.
I happened to be going through some paper work the other day and realised I should have initially canceled the origional policy as the second policy I took out would on my death have paid my mortgage three times over.
I canceled the direct debit and now the bank aren't very happy and want it reinstated immediately.
Why should I pay for a policy that is three times the amount of the loan I took out?
I happened to be going through some paper work the other day and realised I should have initially canceled the origional policy as the second policy I took out would on my death have paid my mortgage three times over.
I canceled the direct debit and now the bank aren't very happy and want it reinstated immediately.
Why should I pay for a policy that is three times the amount of the loan I took out?