Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I own my own property and have done for 3 years. I have recently tried to change my mortgage, because its at the end of its fixed rate, with L&G however they've tried to make me take out Life Insurance. Now I dunno if I actually need this. I have no dependants or anything, not married. If I popped my clogs surely my mortgage would be written off and no one would have to pay this so why would I need to invest in Life Insurance.
The mortgage wouldn't be written off, the bank/building society would sell your house to get the money back. As long as you don't want to leave the house to anyone (ie a relative) then I don't suppose it would matter too much.
A lot of employers provide free Life Insurance (to the value of 4 times your annual salary) which is included with a company pension. Does your employer provide this?
In my view, the suggestion that you should have Life Insurance is perfectly reasonable as it protects your wealth and potential wealth.
Further, you have no idea how your circumstances may change in the future. In particular buying life cover now gives an element of protection should your health deteriorate in the future and it becomes more expensive for you.
Something else to consider - have you made a will?
A lot of employers provide free Life Insurance (to the value of 4 times your annual salary) which is included with a company pension. Does your employer provide this?
Be wary of relying on this.
As part of the pension scheme is paid at the trustees discretion. It may not be paid at all if the trustees cannot identify a dependent (under the rules of the scheme). They do not have to pay in accordance with the expression of wish form.
Do i need life insurance??
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, because its at the end of its fixed rate, with L&G however they've tried to make me take out Life Insurance
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Re: Do i need life insurance??
Originally Posted by LemonTwist
