L
Luna
Guest
Looking for some advice on Canada Life "Whole of Life" (unit linked) life assurance. When I was sold my mortgage a few years back I took out this type of life assurance, which includes critical illness cover. At the time I would not have known a whole lot about the various types of life assurance. The premium is reviewed every 10yrs up until approx 55 yrs of age, with subsequent reviews then taking place every 5yrs. After doing some research on the internet recently, it looks like this type of Life Assurance is not really popular because as you get older the premium gets so expensive that it becomes un-affordable. Given that I'm almost 8yrs paying premiums into this policy, should I try switch to a Term policy OR should I continue with my current Whole of Life Policy ? The cash-in value of the policy would be approx 1100 euro.