Life insurance question

[*elizabeths-mum*]

'Beloveds' life insurance policy is due for renewal 'on or around the 24th September' and at nearly $1700 its now out of budget so I rang up to say we dont want to renew it when it comes due. The insurance company (MLC) is happy to cancel it from today but given the renewal date I still want him covered for the period we have paid for just in case he does pop off in the next fortnight or so.

My problem is that the insurance company cant give me a firm date when it expires. I am told it will cease when I give them a date on my cancellation letter. 

Surely they must have set dates like house and every other insurance?

I will probably ring Fair Trading tomorrow to ask but thought I see what the CS brains trust thought. 

[**meep**]

Add up what you have spent on the policy and work out if you had put that money in an interest account for the same amount of time how much would you have ?

nowhere near  the amount that will be paid out.  (i have been contributing for 15yrs)

[j*oono]

Have you got something planned during the next couple of weeks Em? 

[*elizabeths-mum*]

Considering the options, joono... 😉

[*elizabeths-mum*]

..and of course, despite written correspondence to say I no longer wish this insurance, they took the $1660 out. Banks!