Tag: over insured

You Do Not Need Life or Income Protection Insurance to Get a Mortgage

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life insurance mortgage protection insurance what is the difference

There are many rumors that surround getting different types of insurance. One of the most prevalent ones is that you need life insurance or income protection cover to get a mortgage. Research shows that 30% of borrowers are told that life insurance is a legal requirement for applying for a mortgage while a further 50% of people who apply for a mortgage are told that they also need life insurance. Life Insurance and Income Protection Are Both Sensible Options Life insurance pays out a lump sum to your beneficiaries once…

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3 types of insurance coverage you might have but don’t need

Insurance can be exceptionally useful for helping to bring you peace of mind and assisting you in case catastrophe occurs. However, just because it can be handy doesn’t mean that you need every form available. It is important to have a look at the types of coverage you have so that you know that you’re not buying coverage for something you don’t have or need. Some of the main types of coverage that many people don’t need include the following: • Rental car insurance – though the agents at the…

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