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Consider life insurance options when taking out a mortgage

Date: Thu, 05 Jan 2006

More people should consider life insurance cover when taking out a mortgage, especially as borrowing levels increase.

Figures from the Bank of England show that the number of mortgages taken out for house purchases during November recorded the largest annual rise in over 20 years.

Mortgage approvals for house purchases rose to 115,000 in November; however, many new home buyers are neglecting to make sure they have adequate life insurance to protect their loved ones if the worst should happen.

In particular, consumers looking to buy insurance are being encouraged to shop around for the insurance cover that most suits them rather than simply opting for the one offered by their mortgage provider. Doing research to find out the basics and double checking the small could ensure savings in the long-term.

New mortgage holders are also advised to be open with insurers about any pre-existing medical conditions as this could have a major influence on the ability to receive a payout.


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.