Insurance Cover
On a mortgage it is all very well paying monthly costs but what if you lose your job, can’t pay your repayments, fall ill or in the worst case scenario – die? This is something we don’t want to think about but when buying a house these things do have to be considered. Mortgage insurance cover, life insurance and critical illness cover are all recommended but purely a choice by the mortgage payer. If someone can’t pay the mortgage because they are no longer alive or too ill to work then someone still has to be made accountable. This is where insurance comes in and covers the costs.
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Posted by Paul