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how much insurance do you have for mortgage?

(14 Posts)
southeastastra Sun 02-Mar-14 11:48:54

we are going through our finances and seem to be paying �260 on five lots of insurance, seems really alot and dp doesn't seem to know what they are for ;/

We have an endowment mortgage

Rockchick1984 Sun 02-Mar-14 12:07:02

Most of that will be the endowment policy.

Ring up and get statements for any policies you have, ask for projection forecasts for them, and you can check if you would be better off switching to a repayment mortgage.

southeastastra Sun 02-Mar-14 14:23:04


peggyundercrackers Sun 02-Mar-14 14:24:04

We don't have any insurance on our mortgage.

Christelle2207 Sun 02-Mar-14 14:25:24

Neither do we! We have life insurance separately tho.

NoArmaniNoPunani Sun 02-Mar-14 14:29:39

We have buildings and contents and life insurance but not insurance on our mortgage.

Mandy21 Sun 02-Mar-14 20:12:08

Do you mean mortgage protection (i.e. it pays out if you can't pay your mortgage?)

reup Sun 02-Mar-14 20:18:26

We have none nor life insurance nor mortgage protection.

southeastastra Sun 02-Mar-14 20:44:24

yes mandy, except we seem to have lots of different insurances. seeing a financial advisor to sort out this week. it's really annoying but hard to find out what they all are (dp not the most financially savvy). we seem to be over insured! god knows how much the companies have made out of us over the past 20 years!

Mum2Fergus Sun 02-Mar-14 21:02:28

I've house and contents insurance and a life policy that will pay balance of mortgage in my demise hmm

Mandy21 Sun 02-Mar-14 22:18:52

You need to find the policy documents themselves too - we looked at claiming under a critical illness policy but couldnt find the document. The insurer was really unhelpful. If you can get the FA to review them so you keep the most relevant. Good luck!

Facebaffle Sun 02-Mar-14 22:28:50

Are they all to the same company? If they are all set up to pay off the mortgage at the end of the term then they will have a maturity value and should be worth something. It does seem a lot to be paying but I suppose it depends on the amount and term if your mortgage. Why did you opt for endowment rather than repayment?

peggyundercrackers Sun 02-Mar-14 23:48:48

We don't have life insurance or ppi.

TalkinPeace Mon 03-Mar-14 15:07:56

I have my (crap) endowment that was meant to cover the mortgage in the event of our deaths
the life insurance part of it would do

we have privately arranged life insurance : nothing to do with the mortgage
we have house and contents insurance (compulsory if your property is mortgaged)

not sure what other mortgage related insurance you'd have

a quick call to each of the providers with the reference number from the DDR will tell you what they are

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