Protecting your mortgage and your life is more important than you may think, these aren’t things we may think of often but that doesn’t mean its not important. If you aren’t able to pay your mortgage payments due to a range of circumstance changes then who’s going to pay? This is what we will discuss in this post so read on to find out more.

Life insurance is something that protects you if you pass away during the term of your mortgage, this type of insurance will pay out and cover the remainder of your mortgage which will give your friends and family peace of mind when it comes to sorting your assets. This is so important because things are uncertain in life and nobody knows what’s round the corner.

Life and critical illness cover is an upgraded version of life cover as this covers more severe illnesses that the insurance company may deem too advanced to pay out on life insurance which means you may not be covered without this added cover. We don’t tend to think about the bad things that can happen to our health because we never expect it to happen to us, this is why protecting your life is vital when you enter into a mortgage because this is one of the biggest investments a person can make.

Income protection is there for when unexpected accidents occur or if an illness develops that means you are unable to work, if you don’t receive sick pay or sick benefits from your current employment then this is the best option for you.

 If your wages stop if you were to be off work for a long period of time then you will still need income into your household to pay your bills, this is when income protection becomes very useful because they pay out after your set deferred period has ended which will be used to cover your bills. After all, you insure your phone and your car in case accidents happen and your life is the most important thing to you so insuring your life is the best decision you can make.

Even though mortgage protection isn’t a requirement it is still very important and beneficial at the time its needed. Its better to be safe than sorry when it comes to your life and household income because we can’t predict the future. If we fall ill or in recovery the last thing we want to think about is money and bills, focusing on your health in that moment is what matters and having protection in place will take the stress of bills/income away.

Insuring your property is just as important as protecting your life as things can happen unexpectedly and sometimes the cost of these repairs are unaffordable, this is where home insurance helps because when a claim is made that is covered within the policy, they will pay out and cover the costs of the damage. This type of insurance is vital if you own a property because nobody wants to be without a home due to damages out of their control that they can’t afford to fix.