Protecting your home


What to consider

What you want to happen to your home in the event of your death? Do you have family or dependents who share the home with you? If so, are they in a position to continue to pay the mortgage without you and without your income.

If not you need to put mortgage life insurance in place to ensure that your mortgage is paid off in full should you die.

If you are unable to continue to work your mortgage deal needs to be paid.

Your savings may help you for one month, two months, even three months, and you may be able to enlist the help of friends or family to manage some continued absence from work.

What happens if you are unable to work for many months? Or even years?

Example – protecting your home

Tom is a 35 year old buying a new property on a 90% mortgage of £225,000. He wants to be sure that if he were to contract a critical illness such as heart attack, cancer, or stroke, he will have sufficient cash to pay off his mortgage in full.

Premiums for this cover over 25 years will be in the order of just £12 per week

To find out how to best protect your home call us now on 020 8979 9684

Our example is based on non-smoker rates. Smokers* should expect to pay more for the cover is their risk of death or illness is considerably higher increasing the risk for the insurer. Under gender equality laws brought in by the EU, male and female rates for life and sickness insurance are the same. *Insurers are very careful when considering applications from ‘ex-smokers’ and will require a ‘cotinine’ test which can establish if there is any nicotine in the system of the applicant indicating recent smoking.

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