Does mortgage protection insurance make sense for you?
Does mortgage protection insurance make sense for you ?
Many people are confused as to whether paying mortgage protection insurance makes good economic sense. Let’s take a look…
Mortgage protection insurance is an invaluable product for those who have a mortgage, helping to provide peace of mind in the event of the early demise of one or both of the life assured during the term of the mortgage, the outstanding balance on the mortgage will be repaid in full. You can also protect the loan in the event of the lives insured being diagnosed with a serious illness throughout the course of the mortgage term.
Without mortgage protection insurance, those who do experience a life-changing turn of events may also be faced with the stark prospect of losing their home, making an already traumatic situation more distressing.
Starting to Understand?
There are plenty of people who understand the importance of mortgage protection insurance, but are unsure whether the product represents value for money for them. Let’s see if mortgage protection insurance could work for you:
* Do you have a mortgage?
* If the worst were to happen, do you have a life insurance policy with enough value to pay off your mortgage and still provide for your family’s needs for an acceptable period of time?
* Serious sickness and accidents are impossible to predict, are you covered in the event of this occurring?
If you have a mortgage, then mortgage protection insurance is be the product for you.
One of the main benefits of mortgage payment insurance is that you are free to shop around for the most competitive premium, giving you peace of mind that your home will not be in jeopardy in the event of a serious illness or death of the life assured.
Secondly, for those who already carry existing life and disability coverage, there is also the benefit of being able to review your insurance protection to ensure that you are paying the most competitive price knowing that your family are fully provided for in the event of death or serious disability.