Insurance, also known as protection, is something you should put in place to ensure that no matter how your circumstances change you will still be able to cover your mortgage repayments or repay your lump sum amount. Remember, your lender has a right to repossess your property if you don’t keep up with these payments.
The exact type of protection you need to help you achieve this will depend on you and your family’s circumstances. Your mortgage adviser will be happy to talk to you about this.