life insurance??

[pinkcowprint]

hi,we(me and prtner) have had life insurance for 8years,since we bought our first flat,we then bought a house 3 years later and took another life insuarance out to cover the extra money we was borrowing on the house,we are paying nearly £70 a month altogether for the 2 insurances,i want to see if we can get a better deal but im scared of changing in case the covers not the same?our financial advisor at the time sorted it so dont really even know what to choose if i compare to get a new deal?we have critical insurance and out of work is covered aswell.anyone know anything about this who could advise us?thanks

[bednobs]

errrrrr, why don't you look at your policy which will tell you what's covered? Then get a policy that covers the same things

[pinkcowprint]

errrr,do you not think i might have done that??some other insurances dont cover you for the first 18 months after changing so was wondering if its worth risking changing?
its something i know little about thats why i'm asking.

[pinkcowprint]

its the small print where they get you.....

[bednobs]

Well all you have to do is read the small print, or simply ask whoever you pick as your new provider if there is a period before you can claim before you decide. One thing i will say is that you are now 8 years older so expect a hike in price!

[bednobs]

ps, your question really made it sound like you hadn't read it so no, i didn't think you might have done that

[pinkcowprint]

ok,thanks

[factor-fiction]

You may find that to cancel the policy earlier you will have to surrender it, and the surrender value will probably mean you get back less than you've paid in. You need to get a quote and tehn get teh cost of a replacement policy

[boxtops]

I've got decreasing term assurance on my mortage and like you, had kept adding to it, with bits and pieces of extra policies - last year I just rang the insurance company and asked them if I could combine all the policies just to cover the amount now owing. I did and I saved quite a few pounds in premiums each month.
I don't understand the 18-month gateway, what sort of policy is it? Mine pays out if I die, nothing else.