An estimated 1.7 million mortgage holders aged 18-40 have not safeguarded their family’s financial future. If they were to die, their loved ones could be left to cover the cost of the mortgage themselves. In fact, in 2023 there was thought to be over £433bn in uninsured mortgage debt in the UK.
“Not a priority”
When asked why they didn’t have life insurance, 23% of respondents said that they did not view it is a priority expense.
We understand that no one wants to think about what will happen when they die, particularly if they are still young. However, taking out a policy now could save you money in the future, as life insurance premiums are usually cheaper at a younger age.
Struggling to afford it?
22% of homeowners without cover said they couldn’t afford it because of the cost-of-living crisis. But imagine how much more difficult it would be for your loved ones if they lost your income and did not have a life insurance payout to support them.
Get in touch – we can help you manage your finances and prioritise vital protection.
As with all insurance policies, conditions and exclusions will apply
Your home may be repossessed if you do not keep up repayments on your mortgage
* Beagle Street, 2024
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