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Critical illness cover vital in strong house market

Date: Tue, 09 May 2006

Consumers are being warned to make sure they have adequate critical illness cover to ensure they can maintain mortgage repayments if they are forced to give up work.

New figures show that average house prices in England and Wales have increased by five per cent – meaning the average property now costs £192,745.

The latest figures from the Land Registry's residential property price report for the first three months of the year show that house buyers are having to take out larger mortgages to secure the property of their dreams. However, many buyers are not considering how they would manage to meet such large mortgage repayments if they were unable to work because of illness.

Shopping around for critical illness cover could help many homeowners find a policy that would meet their needs and ensure they have a income to cover standard household bills such as mortgage repayments and utility costs.

Anyone interested in purchasing critical illness cover to help cover their mortgage commitments are reminded to ensure they declare any existing medical conditions, otherwise they could find any future claims automatically rejected.


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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.