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| Homeowner Life Insurance |
With the impact of the credit crunch and the increase in food prices, it is clear that the British public are looking to cut out unnecessary expenses. One worrying development, however, is the decision many homeowners are making to opt out of life insurance.
It is estimated that in recent months thousands of consumers have decided to go without life cover. One study by My Mortgage Direct puts the number of new homeowners choosing to have life insurance as part of their mortgage plan at only 20%.
Most experts agree that this can be a very risky strategy, as it has the potential to leave families facing not only tragedy but also an uncertain financial future.
A spokesperson with My Mortgage Direct commented, “Considering the huge financial commitment of a mortgage and what it represents to borrowers’ lives, trying to save a few pounds by going without life cover is a big mistake.
“Life insurance is not an expensive commitment. In fact premiums have been revised recently and cover can cost considerably less than borrowers might think.”
Selecting the right decreasing term plan is undoubtedly a serious business. Fortunately, Protected can help you compare plans now with our simple quick-and-easy form.
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