Need advice
Hi, i recently got a property with an mri tied to it.
I already have a term insurance for 15years but unfortunately I wasnt able to change the bene to the bank when I was applying for the house loan.
Should I renew my term insurance (15yrs) of 12k/yr (+100 or 200php every suceeding year after) with face value of 1M w/CI/ADD/(one more rider which I forgot)
Or terminate it by not paying the premium this year since I have MRI which also covers 1M for the loan.
It feels like Im paying double for the same thing that I want to cover (house)
Background: 31y/o F, Married w/o kids
Hi, i recently got a property with an mri tied to it.
I already have a term insurance for 15years but unfortunately I wasnt able to change the bene to the bank when I was applying for the house loan.
Should I renew my term insurance (15yrs) of 12k/yr (+100 or 200php every suceeding year after) with face value of 1M w/CI/ADD/(one more rider which I forgot)
Or terminate it by not paying the premium this year since I have MRI which also covers 1M for the loan.
It feels like Im paying double for the same thing that I want to cover (house)
Background: 31y/o F, Married w/o kids