For anyone on a split mortgage, once you get your redress and the warehoused amount has been reduced by whatever amount, don't forget to go back to your insurance company to change your policy. The amount you need to be insured for is now less. Should save you a few euro.
Split Mortgage - Mortgage protection after Redress
- Thread starter AppleSun
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Brendan Burgess
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Interesting point and well worth checking.
But sometimes the higher insurance might be worthwhile.
If your health has deteriorated since you took out the policy, then you should be very slow to reduce the sum insured.
The policy is separate from the mortgage. So if you die when the sum insured is €150,000 and the mortgage balance is €50,000, your estate will get the €100,000.
Brendan
But sometimes the higher insurance might be worthwhile.
If your health has deteriorated since you took out the policy, then you should be very slow to reduce the sum insured.
The policy is separate from the mortgage. So if you die when the sum insured is €150,000 and the mortgage balance is €50,000, your estate will get the €100,000.
Brendan