A recent poll revealed that many British mortgage holders do not have enough life insurance to cover their mortgage debt if they should die.
Nearly a quarter of UK mortgage holders have not made enough provision for their mortgage taken care of after their death, according to a study by Friends Provident and the FTSE 100 life and pensions company.
The study revealed that two per cent of adults would die before they reach retirement age . However, mortgage holders still see life insurance as an unnecessary expense.
A third of mortgage holders in London have no life insurance. In Scotland, the average is 14 per cent of mortgage holders.
According to the head of protection at Friends Provident, Peter Hamilton, most people are happy to take out home insurance, car insurance, travel insurance and insurance for home contents or things like mobile phones .
However, he says they often give little thought to insuring the income that pays their mortgage and funds their lifestyle.
"Life assurance cannot lessen the emotional impact of events but it can soften the financial difficulties should the worst happen," he concluded.
Quarter of mortgage holders have no life insurance
Mortgage Quote Line
0845 108 0505
Quarter of mortgage holders have no life insurance
Tue, 14 Jun 2005
Recommended links
Mortgage lenders selling more lifetime productsMany homeowners remortgage for better lifestyles
Mortgage rate cut at Standard Life
New mortgage scheme a lifeline, expert claims
Prudential to start lifetime mortgage calculator
Mortgage rates cut at GE Life
Caution in the lifetime mortgages market
Shop around for lifetime mortgages, report says
Prudential named best lifetime mortgage lender
Lifetime mortgage changes at Scottish Widows
Parents without life insurance for mortgages at risk
John Charcol launches new lifetime tracker mortgage
Equity release mortgages help lifestyle choices, expert claims
Mortgage holders need life insurance, bank claims
John Charcol launches lifetime tracker mortgage
Standard Life "ahead of schedule"
Quarter of mortgage holders have no life insurance
More financial advisers specialising in lifetime mortgages, website claims
The Pru cut rates on flexible lifetime mortgages
Buy-to-let mortgages for flexible life
Lifetime mortgage product available from Pru
First-time buyers the lifeblood of mortgage industry, expert claims
Mortgage lender launches new lifetime mortgage equity release product
Lifetime mortgage rates reduced
Woolwich revives lifetime tracker mortgage
Prudential named best lifetime mortgage provider
Demand for lifetime mortgages keeps growing
GE Life cuts mortgage rate again
Standard Life in new mortgage offer
Mortgage packager joins life and pensions company
Lifetime mortgage uncertainty
Lifetime mortgages a must say Prudential
Pru receive lifetime mortgages award
Mortgage lender expands lifetime mortgages
Lifetime mortgage rates cut at Saga
Lifetime mortgages results announced by FSA
First-time buyers adapt lifestyle to afford mortgage
Flexible drawdowns could save thousands on lifetime mortgages
Spending of life mortgage money revealed by survey
First time buyers consider lifestyle over mortgage affordability
BandW hopes remortgage will help live life to the full
| mortgages news |
|---|
| Yorkshire Building Society makes mortgage more accessible - Thu, 02 Sep 2010 |
| Lloyds TSB launches new fixed-rate mortgage - Thu, 02 Sep 2010 |
| Skipton launches new mortgage range - Wed, 01 Sep 2010 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage