My husband and I have a whole of life assurance policy taken out in 1986 for €63487.00 payable on the first death. The Policy says it will pay out the guaranteed death benefit along with the value of any units attached to the Policy. The Policy has just been reviewed by the by Aviva and they say the premium we are paying at present is adequate but will be reviewed in 2016. The value of the units in the Policy have dropped dramatically and it is now worth a lot less than we have put into it.
We have received a letter from the Insurance Broker who sold us the Policy and he is recommending that we cash in the Policy as on the next review date we could be asked to pay a much higher premium. He then says we should take out a level term insurance policy instead.
We would very much appreciate any opinions as we do not know what to do.
We have received a letter from the Insurance Broker who sold us the Policy and he is recommending that we cash in the Policy as on the next review date we could be asked to pay a much higher premium. He then says we should take out a level term insurance policy instead.
We would very much appreciate any opinions as we do not know what to do.