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Take out life cover for your shop mortgage

Date: Thu, 27 Oct 2005

Businesses are being encouraged to take out life insurance to cover their shop mortgage commitments.

Many people neglect to ensure that their relatives will be able to continue the family business if the worst should happen and AA insurance is hoping to simplify the life protection buying process.

The AA will be offering life insurance policies via its online website next month in a bid to encourage more people to take out adequate cover.

"Many people find applying for life assurance confusing and tend to put off buying decisions" said Kevin Sinclair, managing director of AA Insurance.

He added: "The risk of a death in the family is not something people like to think about and, as a result, there is huge life under-insurance in the UK.

The AA estimates that nearly two out of every 100 people will suffer a premature death due to illness or an accident but that 72 per cent of property owners do not have enough cover to protect their mortgages.

Shop Mortgages from Endsleigh Financial

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