It’s tempting to sit back and relax once you’ve moved into your new home but hang on, have you made sure that you’re insured against all the risks that could stop you from paying your mortgage? Many things could go wrong and make it impossible for you to work, and in this article we go through each risk, and assess how important it is that you take that into account. If you are responsible for a family, then it is particularly important that you take heed of the following five issues:
What happens if interest rates increase and you can no longer afford your monthly repayments
What if you get made redundant
What happens if you become ill or have an accident and you can’t go to work
What if you have a serious accident or become critically ill, and you can never go back to work
What if you die and your family is left to cope with the outstanding mortgage
These are all questions that new homeowners have to ask, and find answers to. The good news is, the insurance industry have it covered, and there are policies out there that can provide peace of mind against all these possibilities.
On the subject of...