UK ADULTS AREN’T SUFFICIENTLY PROTECTED

A survey has found that 30% of UK households would need to sell their family home if their partner or co-owner were to die unexpectedly.

Affording mortgage repayments was the biggest financial worry in the event of an unexpected death, with 27% saying this would be their primary concern. Despite this, 60% of borrowers don’t have life insurance that covers their mortgage, leaving them without a safety net at a time when they may need it most. Moreover, 80% don’t have any savings in case of a financial emergency. Many UK households would therefore be in a precarious financial position if they experienced an unexpected bereavement.

Your home may be repossessed if you do not keep up repayments on your mortgage. As with all insurance policies, conditions and exclusions will apply

Sources:
https://protectionreporter.co.uk/uk-households-unprepared-for-unexpected-bereavement-as-30-would-need-to-sell-the-family-home.html