Just want to ask a couple of questions , not advice as to which is needed .

Not an expert but can tell about the one we have. Its like a life policy based on a reducing mortgage value. Premiums a bit cheaper .. it assumes you don't need as much money to pay off your mortgage in the future (as it gets less with the years you've paid off) should you become ill or die. Has a table telling what you would get paid out with in a particular year.

Many thanks fish,but not the question I had, was wondering amongst other stuff how easy it was to move between different types of protection . . Seems my offspring has managed to 'phone a friend' lol for the advice needed.

It may also be worth looking at standalone PPI instead of MPPI which would increase future flexibility.

Personally I get half-way through the small print on protection insurances and realise your only definitely eligible for a claim if its an eclipse of a blue moon on a tuesday, every other claim has a degree of subjectiveness.

Best of luck.

Thats exactly my feelings on it too DD , but its a matter of
"Do yer feel lucky, punk ?" you can be screwed without it sometimes . Having said that , an old neighbour never ever insured his property for the whole of his life , and saved thousands in premiums . The week after he sold it , it got horrendous freak storm damage. Presumably the buyers could have been 'unlucky' if they hadnt put insurance in place in time

To be fair, in real terms house contents and building insurance has come down in price substantially, I know some people paying around £200 a year for the combined policies.

Its the mortgage protection (health/unemployment) that I have an issue with. I spent about 30 mins with a seller asking them to describe a circumstance where I could claim - the result was that if I got redundancy lump sum or ill health retirement lump sum I couldn't claim within at least the first 6 months (it was a cash handout from employer so classed as as income), but any claim could not be deferred more than 6 months, in other words it was useless to me. Hopefully the rules are better these days, that was a long time ago.

Well its a lot more regulated that it used to be , so fingers crossed the kids will get better deals than with all the misselling of the past.It gives me a major head ache just by thinkiing about reading the small print!