This is one of the most obvious needs for protection if you are taking out a mortgage because of the significant commitment a mortgage loan represents. Lenders will expect you to put in place basic life assurance to repay the loan should you die. But the risks don’t stop there.
What often gets overlooked when making one of the biggest decisions in your life is how you can protect your assets? For sure your home will count as probably your biggest asset, along with the furniture, valuables and car, for which it is prudent to protect with home and car insurance. We protect this because it does not bear thinking about if a disaster were to destroy them.
However what we take for granted is our ability to generate income for the family, what if a disaster were to happen which would impact on your ability to generate that income, especially if the absence from work runs into months if not years? It does not bear thinking about.
Our advisers will take you through how to ensure your home, family and income are protected should there be any potential interruption to your ability to meet your ongoing bills.
Your home may be repossessed if you do not keep up repayments on your mortgage