Hi Peeps

Just wanted some advise on this matter from you all.

I have DIS provided for me by my employer. However, I also pay for a Level Term Assurance life policy which I personally took out a few years ago. Individually, neither would be enough to pay off my mortgage or my financial commitements if the worst was to happen, but they would, combined. As figures go, DIS at my current level would be 90K, and LTA is also £90K. My Mortgage is 100K, plus 10K on loans. I also wish to leave some money behind for the family.

Someone at work was telling me that some life insurances dont pay out if you have mulitple policies in place. Would that scenario perhaps apply to me? Whats the general view on this? Do you feel I should contact my level term provider and ask them directly?

Thank you for your help

HI Moffitt,

You should look at DIS as iceing on the cake as you would more than likely lose the right to it if you moved employer, and the employer could change it at a later point anyway. Multiple policies will pay out, your work colleague is confused!! Contact an IFA to discuss as there may be other options such as Family Income Benefit as far as leaving money to your family is concerned etc.

Brian