Mortgage or Loan protection is a very basic type of insurance cover often set up when people take out a mortgage or re-finance a loan. Mortgage or loan protection policies are usually more expensive and less comprehensive than regular Life Insurance and Trauma policies. Often they are not medically underwritten when they are set up, which can make it difficult come claim time.
Whilst having some cover in place is better than having no cover, if you have a mortgage or loan protection policy it is probably worth reviewing and looking at alternative personal insurance covers such as Life Insurance.
To review or upgrade your current mortgage or loan protection policy click here for a free consult with a personal insurance specialist.
