Thread: Critical illness cover with endowment

Having just recently moved to Spain, I have been reviewing all my endowments. I am aware of the possible shortfall with all of them, however this is not an issue. I have a different mortgage now and am using them purely as a savings plan.
The last one I took out included Critical Illness Cover. I think I might have been a bit naive about this. I would like to know from the learned members on here whether it is possible to remove this part from the policy but still continue to pay the premiums for the endowment until term is reached.
It would appear that the critical illness cover is taking approx 1/2 of the amount I pay each month.
I have not approached the company about this yet as I would like to take advice first.
Can anyone point me in the right direction please

Jon

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Thanks for the reply. I don't suppose I could prevail upon you for the details of how you are going about this could I?
By PM if you prefer not to give away secrets on an open forum!

Jon

Hi Jon,

I see that you have recently moved to Spain, therefore, it is unlikely that the CIC policy will cover you. However, before you cancel it based on that, please contact your insurer who will give you more information. Also, you should be able to ask your insurer to remove this aspect from your endowment.

I would advocate talking to your insurer sooner rather than later.

HTH

D x

Thank you for the replies. I am keeping these policies going as a form of savings plan. I'm sure I can do this as I am still paying full UK tax as I work offshore in the North Sea. I will have to check on this before I make any decisions as to whether or not I want this payment stopped or not.
Jon