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£318 BILLION WORTH OF MORTGAGES NOT PROTECTED BY LIFE INSURANCE

Nearly half of mortgage holders don’t have life cover to protect their mortgage01-11-2010

Nearly half of mortgage holders in the UK (43%) don’t have their mortgage contributions covered by life insurance according to new research from Sainsbury’s Life Insurance.... around 7 million people owing £318 billion in total on their home loans have no life insurance to cover them.

In recession when you’re tightening your belt and need money for the immediate priorities, insurance against what might happen in future does seem like the best thing to cut. But think about what might happen if you were to die and leave your nearest and dearest with a mortgage to pay. If they couldn’t afford to make the mortgage repayments they might have to sell their home – at what is already one of the most stressful times they have to deal with. If you can afford if life insurance gives you the peace of mind to know that if you die the mortgage will be paid off and your family can go on living in their home as long as they want to.  

Life insurance doesn’t have to be expensive. Sainsbury’s Finance offers premiums which start from £5 a month. Nectar card holders taking out a new policy before 30th November 2010 will receive £50 of Sainsbury’s vouchers and 1,000 Nectar points.

Shop around to find the best deal for you.

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