Do I need Life Insurance?

Posted on 02. Nov, 2009 by Homes Etc in Ask the Experts, Mortgages

Q. Do I need Life Insurance?

Mr W, Littledown

Our Mortgage and Insurance Expert says…

Unfortunately, you have not provided me with your personal circumstances, so this information is general and is not personal advice for you.

In short, if you have loved ones who rely on your income to support their home (mortgage, other loans, bills and living expenses etc) then the answer is most definitely “YES”!

Whilst many people have life assurance to cover the outstanding mortgage, the ongoing cost of running that home is often forgotten, and families lose their home anyway.

We are able to arrange life assurance as either a lump sum (usually to cover the mortgage and loans) and as an ongoing income which is linked to inflation. The latter can even be arranged in parts, so that more is available whilst children are young, reducing after it is anticipated they would leave home or become financially independent.

You may even be surprised at how little a month it would cost to protect your family!

We do not charge a fee for insurance advice as we receive commission from the provider, so call either Debbie or Yvonne on 01202 874100 to arrange a time to have a chat over a coffee to make sure that if your family lost you they would not lose their home.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

We do not charge a fee for insurance advice; we only receive commission from the provider. For residential and buy to let mortgages we can be paid a fee of £695 and may also receive commission from the lender. Alternatively, you can pay a fee of 1% of the loan amount for our services and we will refund to you any commission we receive from the lender, subject to a minimum fee of £1500.

Mortgage Advisor:
Debbie Boyes
Debbie J Boyes, Professional Mortgage Advisors, 01202 874100
www.djboyes.co.uk
mortgages@djboyes.co.uk

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