Nearly 1 in 2 Mortgage Holders Do Not Have Life Insurance
Nearly 1 in 2 Mortgage Holders Do Not Have Life Insurance
According to high street supermarket and insurance provider Sainsbury's, 43% of mortgage holders do not have any life insurance protection, meaning that 318bn worth of mortgages in the UK are unprotected from fatal circumstances. This shockingly means that 7.1 million people are at serious risk of leaving their dependants in major financial trouble if the unthinkable happens.
Life insurance policies are widely available, but before you go and sign up to the first policy you can find, make sure you seek advice from an independent mortgage protection adviser who has access to the whole of market and takes a personal interest in your needs. Whilst having life insurance is important, it will only be useful if it is the best policy on the market and fits your needs specifically.
Protecting your mortgage payments is as important now as it has ever been. Remember that life insurance as well asincome protection plans andredundancy protection are ways to offset the impact of death or redundancy. The last thing you will want to do is worry about repaying the mortgage if you find yourself without work or leave your family with no means to pay the mortgage if you are no longer around.
For advice on all types of issues includinglife insurance, speak to a whole of market mortgage adviser today. Mortgage brokers will be more than happy to help you protect your mortgage and your family.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.