Life insurance less than mortgage term? Possible

[Dreamingofthishouse]

So took out a mortgage on 25yr term, DO NOT intend to have it for 25years and would be keen to overpay/ reduce years over the next few years when childcare bills ends. When doing our life insurances we were told it was for the mortgage term but found out from several people than they didn’t cover the full term. There would be approx £20-30 saving per month for having insurance for 20 years not 25years but mortgage advisor is getting on like this is the worst idea ever and all but refusing to do it. We will definitely pay extra/ reduce mortgage term to least most 20yrs and overplaying is planned for . I’d like to save the £360 per year ( 1200 minimum for 5yrs) now and only have the plan for 25yrs. Is this a done thing?
also the critical illness aspect is for full mortgage about- someone else suggesting capping it to reduce costs?sensible?
basically want to reduce our insurances monthly as current quote is £160 for my HB and I ( no illness, 1 Minor declarion but we are both over 40 !) which I think is a lot!!

@hauntedvagina brokers aren't equal, I have been given some AWFUL advice in the past from a previous mortgage broker on life insurance, really poor service, it was clearly about rattling out as many policies as possible. But I also have a fantastic broker for insurance that I found separately (she does mortgages too so I'm not saying they can't do both- but I agree with the PP don't default to your mortgage broker, do some research).

@jfshu ah and here lies the issue. My mortgage broker is fab and I trust him implicitly.

@hauntedvagina that's the thing I thing, finding a good one, I'm going to do my mortgage with my insurance broker next time, she's a goodun!

I realise you have plans to reduce your mortgage but you can never really tell what will happen in the future. I know people who were left in very precarious circumstances financially one due to serious illness meaning they couldn't work and were on statutory sick pay, another redundancy in 2008 not only lost their job but all work related benefits and a family member lost her spouse who was the main earner and she had 3 young DC. It seems like a lot of money for this type of cover but just think of the what ifs and how you would manage in the situations I mentioned above.

Also the younger and healthier you are when you take this cover out the cheaper it is.