Life insurance should be used for more than mortgages
Sainsbury’s Bank has called on Britons to make sure their life insurance covers more than just their mortgages, as this could leave their loved ones exposed.
The bank is calling on people to remember the true benefit of life insurance - the ability to provide your family with long term financial security should the worst happen.
Research for Sainsbury’s Bank reveals that only 16 per cent of people with life cover said they had bought it to protect their family, while 44 per cent of people said they took out a policy to cover a property or remortgage.
This would appear to explain why nearly three quarters of people with life insurance (73 per cent) have less than £150,000 worth of life cover, a figure close to the average mortgage loan in the UK.
Life insurance should be used for more than mortgages
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