If you’re arranging a new mortgage, or have an existing one, you have made a commitment to make regular repayments to your mortgage lender. They don’t care what happens to you in life, they just want their regular payments. If life deals you a blow (such as illness, disability, or the fatal blow of actually dying), it is your sole responsibility to continue making those monthly payments, or have the funds to repay your debts in full.

This is why protection planning is so important, even more so if you leave loved ones behind who are relying on you to provide for them (spouse, children or possibly elderly parents). If you’re a single person, do you want your beneficiaries to inherit your property with or without a mortgage to repay?

Aviva have made a short video that explains the need clearly.

If you feel the need to have a conversation about protection arrangements, we are ‘whole of market’ for insurances as well as mortgages, and all our advisers are suitably qualified to discuss protection planning with you.