Our live change over time – change of jobs – family and dependents – change of health. During these changes – often turbulent, do you consider the effect this could have on your mortgage?
There are different types of protection you may consider – but probably the most obvious is Life Cover.
Ignite Financial Services in Epsom have found some interesting information about Life Cover in the UK.
A recent survey by Sainsbury’s states that four in 10 Britons who hold a mortgage do not have their contributions covered by life insurance.
Sainsbury's Life Insurance suggested that nearly seven million people with a collective outstanding mortgage balance of £245 billion have no such provision to cover their repayments on their death. (Source: Press Association, November 2011).
Many people will insure their pets or TV sets before they consider taking out a life insurance policy. Mortgage protection is seen as an expensive monthly outgoing. But how would you cope if you suffer a serious illness?
Would your love ones have adequate financial backing if you were to die?
(For just £6.90 per month would buy you £100,000 life cover. Aviva quote November 2011, based on male 35, non-smoker.)
Sadly it often takes a tragedy for us to find out the problems – so act now.
Check if the protection you have in place is adequate.
Give Ignite Financial Services a call.
To learn about Ignite Financial Services in Epsom – see our feature.
Your home may be repossessed if you do not keep up repayments on your mortgage.
