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homerjay1973
Starting Member
15 Posts |
 Posted - 07 November 2011 : 11:59:09
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I am filling in the 6.28 form and I have a question about a life insurance policy.
I live with my girlfriend, she owns the house and pays all the bills, nothing is in my name as she bought it before we got together. However, during a financial review last year her Bank convinced her to take out an insurance policy on me just in case something happens. The policy is in my name but is paid by her and is linked to her mortgage to pay off any outstanding balance owed should the unthinkable happen. I have today noticed while checking the paperwork that this policy also cover me for critical illness, so if I become seriously ill, the mortgage will still be paid off but I will still be around to benefit from it.
Does this class as a beneficial interest in her property?
If so, am I allowed to ditch the policy and restart one after I have been discharged? and will I have to declare that I have done this?
Thanks for any help. |
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Life Insurance policy question....
