Mortgage cover is perceived as an unnecessary policy by a high percentage of homeowners. This general attitude could be attributed to the fact that the majority of mortgage cover options can be very expensive and that nobody actually sees how it could come in handy in the future. It is this last point that significantly contributes to the argument that mortgage cover is essential for all homeowners, regardless of the value of their property or their personal circumstances.
Nobody ever envisions having to use a mortgage cover policy because very few individuals actually consider all of the bases in terms of what could happen in the future. The majority of people do plan ahead in the medium term but not in the long term and fail to think of all possible eventualities.
For example, how would you pay your mortgage repayments if you had a long term illness and needed time off to recover? Or how would our household cope with the mortgage if you were made redundant? You would not be able to get a loan because you would have no way of repaying it, so where would the money to live come from?
Mortgage cover takes care of all of the above, but will not be able to do...
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