Life insurance disregarded by a third of mortgage borrowers
Almost a third of new mortgages do not have life insurance associated with them, new research from Defaqto has revealed. The financial research company has highlighted the risk of taking on debts such as mortgages without having sufficient protection in place should something happen to the borrower, leaving their family to repay the debt. The report points to figures from the Association of British Insurers from 2009 which show that 363,973 new mortgage-related life insurance policies were written, whereas the Council of Mortgage Lenders recorded a comparatively high 925,000 new mortgage advances for the same period. Read more…