Get expert opinion. This is the place for new questions to be posted.
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Martin.lp
- Posts: 1
- Joined: Tue Aug 05, 2014 10:05 am
Can I take out life insurance while in an IVA ?
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Adam Davies
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
- Location:
Hi and welcome
Yes you can, not sure if creditors will agree in in your expenditure but you could fund the monthly cost from savings that you make from other agreed expenditure allowances
Regards
Andam Davies
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
- Location:
Hi and welcome. I would think that's very sensible, if you took out a low premium one now it can always be increased after the IVA concludes. I rejigged all my life insurances after IVA ended to ensure things were in place.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Random Lady
- Posts: 277
- Joined: Thu Oct 14, 2010 11:16 pm
- Location: United Kingdom
Hi - we were allowed to include payments against the life insurance that would pay the mortgage off but not against additional life insurance (i.e. critical illness). We are going to look at sorting that when we receive our Completion Certificate.
F&F approved May 13 - just awaiting Completion Certificate - moving to a new Debt Free life !!
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Struzzo39
- Posts: 1820
- Joined: Sun Jan 24, 2010 5:56 pm
- Location: United Kingdom
Hi we were allowed to have personal life insurance in regard to redundancy and life insurance for a mortgage within our I/e but it was something we had prior to the arrangement
Steven & Debbie
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seagulls
- Posts: 318
- Joined: Thu Jun 07, 2012 8:28 pm
- Location: United Kingdom
We were allowed to pay life insurance to cover the mortgage . Good Luck with it
