Life Insurance – What You Need to Know
If you are looking at taking the step of getting a mortgage, the chances are you are thinking long term about your future – financial and otherwise.
At My Mortgage Force, we can help you secure life insurance as you embark on this next step to ensure those closest to you are protected when it matters most. We can talk you through different policies available, and demonstrate the pros and cons of each to help you make an informed decision.
What is Life Insurance?
Life insurance is put in place so that your dependants will receive money after you die.
This can be paid out as either a lump sum or in regular payments, depending on the policy you choose. Life insurance exists to ensure that your family left behind does not fall into financial difficulties, and can be used to cover the cost of not only mortgage payments, but also other bills and expenses (some policies even cover the costs of funerals). One option is to enrol in term life insurance, during which the policy covers a specific period of time. Should you die during the term of your policy, your loved ones will receive a pay out. The other option is to enrol in a whole-of-life policy, which means your loved ones will receive a pay out regardless of when you die. This normally comes with a higher premium, but it also provides a higher level of reassurance to your loved ones as well.
Do I Need Life Insurance?
The decision to take out life insurance is a personal one, and is by no means reliant on on you getting a mortgage.
Ultimately most people decide to take out a policy if they have dependents for which they are the sole provider. It is ideal for people that want to protect their partners and children so that they are not left to struggle financially, and so many people consider taking out life insurance at the time of moving house and making a big life change. With a life insurance policy, you can make sure that your family are protected, and we can help you make this crucial decision.
Compare policies today
At My Mortgage Force, we understand that the most important thing in life is family.
That’s why we make it easy for you to compare coverage and different types of life insurance policies all in one place. We offer advice and support as you make this important decision, and save you time having to search for this insurance through a separate broker. With our comprehensive array of insurance and protection services, you can find more than just a mortgage with our help.
To learn more about procuring life insurance with My Mortgage Force, give us a call now.