Why is Life Insurance so important when you have a mortgage?
If you are worried about how your family or loved ones would cope financially in the event of your death you should consider life insurance. It is important to make sure your loved ones are not left vulnerable financially, and a life insurance premium can make sure they are safe and catered for should something happen to you.
It is also important to have some form of life insurance if you have a mortgage or have borrowed on credit because, without it, your partner or family may inherit your debt. If you don’t have any dependents or a mortgage it may be worth considering critical illness or income protection instead of life insurance.
What does Life Insurance Provide?
The majority of life insurance policies pay out a lump sum to your family or loved ones on your death. This sum can be used to pay off a mortgage or meet financial obligations, pay for childcare, education or to just supplement a smaller household income.
With so many different types of Life Insurance available it’s essential you get the right plan from the outset, so to safeguard your family today simply request a quotation and one of our specialists will be in contact to discuss the right plan for you at the best price. Our advice is completely free and if for any reason you’re not 100% happy with our propositions then you are under no obligation to buy.