strange world of exh.....i got a letter from scottish equitable saying i have stopped paying direct debit ....i dont have any plans with them ...or so i thought till i ranmg them up...he has been paying it even tho we split in 1999..so should i start...

[zippitippitoes]

..........ok i had a letter today saying they couldnt take the hune payment because i have cancelled it

the letter is addressed to me at this address

which has only ever been my house not exhs

so i rang up to find out what it was

it is term assurance taken out in 1993 and they wouldnt tell me where they have been taking the money from

not me

so exh has been paying this since we split in 1999

and has presumably just realised

so if i found out how much my life has been insured for on a payment of 21.25 per month what would be a reasonable cover for me at 51

i would struggle to get cover now because of mental health issues so i am wondering if it would be worth starting paying it myself tho it sounds expensive to me a i have no money

i am sure he hasnt noticed he was paying it lol

if you want to leave £90K to your kids pay it, if not, don't bother.

2019 is only 11 yrs away - surely you are not planning to leave us before then?

fiodyl - why the hesitation? Claim and get the money

i dont know

it would go into his estate rather than to you wouldnt it?

this one of mine would be paid out to my estate and that wouldnt have included exh as we are long divorced and so he isnt going to inherit from me which would have included this

We have one of those, it was a requisite for the mortgage, DexH is still paying it, which is good because if either of us dies the mortgage gets paid.

Does the cover amount is the same as the money you owe on the mortgage loan? If so, there.

i have only had a mortgage since 2005 before that i owned the house outright

this was for a mortgage we had in 1993 i guess

i wasnt asked for term assurance on my mortgage or at least if i was i didnt have it

Would it cover you if you were say to become disabled in some way, pay off some of your mortgage with it etc? I've kept all my insurances going as best I can, because although my original life insurance won't cover my whole mortgage if anything were to go wrong, I know that it will cost me a HUGE amount to take out a new or extra one because of my mental health happenings over the last 20 years. It could be worth your while to find a way to continue it zippi. Get a financial advisor to come and see you as an urgent matter and tell insurance people that you will be in touch with them asap. Ask them how much time you can have before the policy is irretrievable.
Hope that all makes sense. I just know how hard it was when I tried to up my insurance just to cover my life over mortgage term.

fiodyl, fill them out. If you weren't entitled to it they wouldn't send them. If it turns out after you've filled them in and returned them that you aren't entitled, then you wont get anything, but it has to be worthwhile to try, surely?

well mental health would make it a problem for me

but this is only on death

any mortgage we had in 1993 is long long gone

i moved out of his house in 1999 and have had my own since then with no mortgage until 2005

no it owuldnt copmpletely cover my mortgage

as you say it would be 90k the children would get if i died in the next 11 years

so not much good to me

only them

tho ni thought some people do think about leaving stuff for their kids lol

maybe i should ask the kids if they want to pay it between them lol

without seeing the policy docs im not sure im entitled to it because we had split up 3 years b4 he died and I don't know if my name should have been taken off(probably wasn't as he was unlikely to get insurance in his name alone IMO) I dont want to claim it and then end up in even more debtand charged with fraud bcos im not entitled IYKWIM

zippi - fab idea, unless you think one of them might bump you off to get their hands on the money

I have term insurance but my brats are small - it runs out when they are adults

i have filled in the form but not sent it.

its the part where i have to sign that says' I confirm that I am entitled' that gets me.

it says that I am the 'life assured' not sure what that means-

if the money was meant to go to his estate to pay his mortgage then wouldnt they have done that already? i know the house is being sold as I saw it in estate agents window recently.

i imagine 2019 was the date that the mortgage we then had would have run oput

lol at bumping me off

well i guess they might think it worthwhile anyway

i think youre right the trem is usually the length of the mortgage.

but if it is linked to the mortgage, the does the money from it have to pay off that mortgage only?

i dont think they are linked in the sense of tied just co existent so no

but the mortgage has to be paid off somehow if the mortgage holder dies

yeh so thats why i think it may have to go towards paying it off.

although if the house is being sold then that would pay the mortgage- its for sale at 4x the amount of the mortgage

so bloody confusing and stressful thats why i keep puting it off

who are the executors of the will

what does the policy say

I have no idea about executors, but I am guesing his sister and BIL as they were sorting the house out. Dont even know if there was a will.

Ive never seen the policy so only know what Ive been tol in letters from Insurance company- that it was a joint policy, I am the life assured and the amount covered.

fio, could you ask the CAB for advice or get the ins co to explain to you exactly what has gone on and get them to check your entitlement? tell them you are very unsure about any of it and don't want to end up in trouble if you aren't entitled. Do you think exdp might've left you it in his will? could you speak to his solicitor?
On the other hand, I've not heard of anyone who wasn't on the mortgage having to have life ins for it before. After all, if you were not on the mort, then your death would be irrelivant to his mort, therefore a waste of time/effort and money to pay for a policy. Perhaps he put you on it without you knowing? ask ins co again for copies of the policy so that you can check through with someone who knows the ins and outs of it all...
Was just thinking.LOL. It wouldn't happen to me, my ex's would take everything from me(and have done too)rather than make sure I was ok!
Please check it out. If it is yours, think how much more comfortable it could make your life.
I wish you the best for it, I really do.xxx

hang on you say you are the life assured

so you are still with us

so they arent paying out if it was a death benefit

are they just asking if you want to continue the payments on the policy

I guess I am going to have to speak to someone about it really, its just part of me wants to forget about it as I had put that part of my life behind me so I didnt have to think about all the crap that hapened when we were together.

I am wondering now if at some point my name was on the mortgage, although obviously i dont think it is now or the bank would be after me for payments by now wouldnt they.The mortgage was changed from an endowment to a repayment one, and I thought the life ins. was a condition of it being changed.

Im pretty sure I was included as it was the only way he could get life cover for himself, in fact this was the only company prepared to offer it, the premium was quite high and there were also conditions iirc. Thats why i guess i was left on it after we split.It was all sorted out through a family friend and I was only involved when I was needed to sign something.

both names are listed as life assured- so i think that means it pays ou when one dies?

Anyway the leters they have sent say nothing about continuing the payments- just paying out this large(to me anyway)amount of money.

does anyone know if its possible to find out if your name was ever on a mortgage? Ive seen my credit file on checkmyfile.com in the past but was nothing about it on there.

i think you should ask for advice get copies sent to you of the documents and take them to a slicitor