Term Assurance
This type of insurance is for people with loved ones that they do not wish to suffer financially on their demise. If you're single, it is unlikely that you will need this type of policy.

Many people require two incomes just to keep pace with the cost of living. Should one of those incomes be lost on death then the financial ramifications for the survivor can be devastating.

Where a mortgage exists it makes sense to have this repaid on death. To leave a loved one with less income on which to manage and a mortgage could lead to the repossession of the family home. To avoid this it might be prudent to sell the family home and move into something smaller but the credit crunch and falling house prices have made this very difficult right now - how long would it take before the mortgage payments were unbearable?

If mortgage payments were to go into arrears while the house was waiting to be sold it would almost certainly prevent a new mortgage from being arranged on a smaller property. Anyway, why be forced into selling a home that you may wish to continue living in just because a life assurance policy had not been arranged - life assurance is not that expensive.

To find out more about life assurance policies please contact us. As independent financial advisers we are able to trawl the market for the most comprehensive policies at the best prices.

 

Call free on 0800 0196626

Mortgages-Online: awarded 2nd place best online mortgage adviser 2007

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE SECURED ON IT

Mortgages-Online Ltd 19 Weekday Cross The Lace Market  NG1 2GB