At the time you completed your mortgage, you probably took out life cover to protect your original mortgage.
Please do not think that you do not need to review this and have another conversation because your circumstances may have changed, and new policies are more competitive may have enhanced cover, including children’s critical illness.
Here are 5 top reasons to review your protection needs.
- You might be raising more funds on your mortgage and your original cover does not meet the increased amount or term, therefore there may be a shortfall.
- Your job or income has changed, you may be earning more and changes to your work-based benefits, you may have gone self-employed and do not have the luxury of sick pay. What would happen if you were sick, and unable to work?
- You have had children, it is expensive to raise children, there are policies like family income benefit to help you pay the bills if the worst were to happen.
- Your health and lifestyle may have changed, you have improved health, stopped smoking or new medical conditions, it is more important to take out cover now.
- Insurance providers are now offering more benefits and encouraging you to live a better lifestyle to hep you stay healthy. They offer additional support for mental health, physiotherapy and provide second opinions.
Can you afford not to take out protection cover?
