Why you need a back up plan

What springs to mind when you think about why you’ve purchased or are considering purchasing property? Is it to invest and prepare for your future? Create wealth? Or simply to provide a consistent home for your family?

Whatever the reason, as a mortgage adviser it’s greatly rewarding when I can help people into their own home and see them invest into their future. And its why I want to see them protect it with the appropriate level of life insurance cover.

Before you opt out of the conversation, it’s important for you to understand that life insurance doesn’t just mean a payout if the worst was to happen. I’m talking about being confident that your investment and hard work don’t go to waste if your situation were to unexpectedly change.

When you become a property owner you need to think about what would happen if one day you weren’t able to pay the mortgage. Or if, out of the blue, you lost your job, became injured, disabled or ill. What’s your back up plan?

Not being able to meet your loan repayments can have serious consequences, not only for you but also your loved ones. This is where life insurance plays a significant role in your back up plan. There’s a huge range of very affordable policies out there that could be the difference between losing or keeping your home during an already tough time.

Premiums can be personalised to your needs and are based on your cover amount, gender, age, and budget. Just like home loans, you could do the research yourself but it makes sense for me to do the legwork for you.

If you’re a seasoned property investor you’re likely to already have cover in place. Great! Just make sure you review your policy if your situation changes so that it stays relevant.

The consequences of not having the right cover in place can be pretty devastating. On the other hand, the reason you purchased property is likely worth having insurance for. If you’d like to talk about your options or check if you’ve still got the right policy in place, give me a call.