Hello,
I thought I'd check if anyone has any useful advice about a Life policy I no longer need before I call Norwich Union to see what they say.
Many years ago my wife and I took out a joint Life Insurance policy with Norwich Union (Joint Mortgage Security without Bonuses) to cover a Clydesdale bank mortgage. We paid off that mortgage last year and now have a Nationwide mortgage on a new house. We are still paying into the NU life policy so want to find out as quickly as possible if it can be converted into something more useful. I presume that NU will suggest that we transfer it to the new mortgage but I wondered if I could convert it into something else. We currently pay £12 a month and that adds up to around £2,600 paid to NU over the years.
All advice most welcome,
Rob

I'm under the impression that you will need to ensure you have life cover to accompany any mortgage, and the only important point is that in the event of death of a mortgage policy holder, that this life cover will pay off the mortgage.

If you are talking about dropping the NU life cover, does this mean you already have alternative life cover in place?