Hi there,

Thanks for your advice.

I think I will look elsewhere for cover. I sure there must be better options available.

Kind regards

Hi.

These types of 'whole life' plan typically include a ten year review, whereby the premium is reviewed, there is little you can do about it if you choose to stay with Zurich. If your health is good you could try re-insuring with a new company, but I would suggest you talk to an IFA as they are best placed to find you the best cover / premium.

Hi,

In 1999 we took out a Lifestyle Plus Plan with Zurich Insurance as advised by an independent Financial Advisor. Since 1999 we have been paying £61.00 per month for £60,000 cover. (we have never needed to make a claim - thank goodness)

Zurich have recently reviewed our plan and we received a letter from them outlining 2 options

Option 1. To keep our current level of cover at £60,000 for a further ten years but to secure the current level of cover we need to increase our payment from £61.00 to £99.00 per month.

or

Option 2. Not to change and keep our monthly payment of £60.00 but the cover will reduce from £60,000 to £24,551.

To us the increase seems a bit hefty. As we have had the cover for so long we don't want to be without it, but we need some advice before we decide what to do.

Can you advise how we can bring down the premium without losing or compromising on cover or can you suggest another way forward.

Thank you