Not sure if Im posting in the right section, so if not sorry!
About 3 or so years ago myself and my boyfriend went about buying a house, our mortagage broker got all things sorted for us on the house, house insurance, life assurance etc...anyway the house fell through at the last minute (thank god) but the mortage broker said sure keep the life assurance policy in place and you can apply it to another house when you get one. I didnt really think much about it after that, totally forgot about it.
Then 2 years ago we did buy a house and took out a new life assurance policy and I forgot about the one that we had out, stupid I know but I didnt notice the money coming out of my account as I dont really check that often, so I started thinking about it one day and thought there is no point in having this is place as we have a new one relevant to our new house (different location, different size house) and sent the insurance company a letter to cancel the policy and ask for a return premium as there was no insurable interest in the house and they sent back a letter saying that they could not refund premium because if there was a claim (like one of us died or something the policy would be in force) but I wondered how that was possible as the point of the insurace was to cover mortage payments should a partner die etc.. so I sent a letter back statng that since we did not buy the house there was no insurable interest, they got back to me saying as a gesture of good will they would refund me one month. This was a while ago now and I just accepted it, however I read something today that got me thinking about it again and wonder if this is correct or if there is actually something I can do to get my money back (around €1,000 over a year or so).
I realise I have been stupid by not stopping the policy when the first house fell through.
This is a really long post....sorry!
Any help would be great!
Thanks a million.