Mortgage customers advised to get life insurance
People looking at houses for sale in the UK have been told to get
life insurance when securing their mortgage.
This is after Sainsbury's Finance revealed that nearly half of all
mortgage holders in Britain do not have life cover, which will
protect the payment of their loan should they die.
It also revealed that since January 2006, there has been a 47 per
cent increase in the number of home loans that are not covered by
Sainsbury's life insurance manager Lucy Hunter said that cover is
"particularly important for homeowners".
"It can help to ensure peace of mind that the property is paid for
upon death, allowing loved ones to continue living in the family
home and it could also alleviate any financial burden, therefore
providing financial security," she stated.
There could be more people who choose to take up life insurance
policies after the Building Societies Association revealed that
mortgage lending had increased by ten per cent from August to