Buying a house is exciting and overwhelming all at the same time. There are so many things to do and several things to pay for- so when you finally have the keys, it’s easy to assume it’s finally over…
However, a mortgage is the largest loan and biggest financial responsibility most people will ever take on. Therefore, it’s important to protect yourself and your family against the unexpected.
How will you afford the mortgage payments if you become unable to work following a sickness or accident?
If you own your home with someone else, what happens if one of you passes away unexpectedly? Will the surviving spouse be able to maintain the mortgage payments alone or will they have to give up their home?
There are different types of insurance you can implement to protect you, your family and your mortgage. You may be surprised at how low cost these actually are!
Policies can be setup to pay off the entire mortgage if you pass away. This ensures that the loan is cleared, removing the burden of payment for the surviving spouse.
You can also setup a policy to protect your income so that your regular expenses, including mortgage payments, are covered if you are unable to work due to sickness or accident.
Our advisers can review your circumstances and discuss the most suitable protection options for you to consider.