Changing life insurance

[DeanR32]

Good morning PH

Bit of a strange one, but me and my wife have life and critical illness cover, but want to change it to a more competitive price. Problem is, I don’t know who I’m covered with!

We’ve been with the same company for around 10 years, and in that time the policy was moved to another trading name/company, and they notified us of the change. They also send us a yearly statement, but I never keep them, so I don’t know who to contact to cancel and move the policy.

I pay a direct debit to Synpro, but I can’t find anything about them on google. Can I cancel the direct debit and just open up a new policy with someone else? I’m not sure how it works. I thought I’d cancel the DD, and they’d write to me saying they’re cancelling it. That way I’d know who I was with for a start.

I don’t want to incur penalties for cancelling it early (thinking it must be like car insurance), but could do with slimming it down, as it seems pretty steep for the pair of us (in my eyes).

Cheers in advance

[Jockman]

DeanR32 said:

Can I cancel the direct debit and just open up a new policy with someone else?

Yes, though I would not cancel until you have received quotes elsewhere and signed up to one.