Half of mortgage owners have no life cover
According to latest research from Scottish Widows, half of those with a mortgage have no life cover in place. This means that they could be leaving themselves or their families financially exposed if something happened to them.
The research also shows that only 20% have cover for Critical Illness, which means they could be at risk of financial hardship in the unfortunate event that they were to become seriously ill.
This was reported on the Mortgage Introducer website in June*.
What this means for home owners
Adam Nanson from Your Mortgage Expert in Salisbury comments:
“When speaking to people, we find that they often know they are not adequately protected against the financial impact of illness, injury or death. However, they often don’t want to think about this difficult subject or don’t think they can afford the additional cost of personal insurance.
“At Your Mortgage Expert, we would urge people to have these challenging conversations with their loved ones and set aside the money to take out some form of protection insurance such as life cover.”
How Your Mortgage Expert can help
Adam Nanson continues:
“At Your Mortgage Expert, we offer advice on a range of protection products to help look after you and your family. Whether you need Critical Illness, Income Protection or Life Cover, we can help. And, if you are concerned about the cost of protection, we will work with you to find an arrangement that is both affordable whilst providing you with an appropriate level of cover.”
If you’re still not sure whether you need protection, why not read about some customers of Your Mortgage Expert. Hannah and Steve took out Life Cover and Income protection to ensure their family was looked after should the worst happen to either of them.
We don’t charge for an initial consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.