The best way to look at this issue is to ask; how important is it to you to have your own home for you and your family? Most people would obviously answer; VERY IMPORTANT! Now, how important is it for you and your family to be able to keep your home in case of premature death, serious illness, accident, sickness and/or redundancy? These are dreadful eventualities and the worst that can happen to a grieved family or someone bedridden in a hospital, or disabled and wheel-chaired, or someone made redundant is an EVICTION NOTICE. We all work so hard to get to own our homes, why should keeping them be left to chance? Don’t be part of the ugly house repossession statistics, get mortgage protection insurance NOW!
Owning your home is really a dream come true for most people, but for as long as you have a mortgage on the property you will never have the original title deeds. They are kept by the lender as their security. If you fail to pay your mortgage, the lender would sell the property to recover their monies. The idea of insuring is based on the acceptance that something is important and needs to be insured. Most people insure the building, the contents in the house but don’t insure themselves. In other words the contents are more important to their families than they are.
The main reasons for mortgage arrears which lead to repossessions are loss of income due to premature death, critical illness, accident, sickness and/or unemployment. These eventualities are all insurable.
If you are the breadwinner for your family consider what will happen to your loved ones if you and your income were not there!
Nowadays, Mortgage Protection Insurance and Mortgage Payment Protection Insurance are not always conditioned by the mortgage lender, but the issue is not whether the lender makes it compulsory or not it’s about you and your loved ones, THINK!