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Article DetailsAdvice on mortgage payment protection policies |
| Date Added: August 18, 2008 09:38:37 PM |
| Author: |
| Category: Mortgage payment protection insurance uk |
Mortgage payment protection insurance when taken with your mortgage can sometimes lead to insufficient advice being given at the point of sale. Insurance Purchasers would be better informed if they consulted their Independent Financial Advisor.
Mortgage payment protection insurance may not be suitable for all Insurance Purchasers and depending on their circumstances and savings, it is important they are covered for events such as accidents, sickness and unemployment.
To this end, it is critical that Insurance Purchasers receive proper independent financial advice when taking out these insurance policies.
It is further critical that Insurance Purchasers investigate the correct mix of insurance products which are suitable for them. The end result may be increased protection for them and their family.
The Financial Services Authority state that this type of insurance provides value for money when it is sold correctly and Insurance Purchasers have received the best independent advice. Insurance Purchasers who take up such insurance have a cooling off period and can withdraw from the insurance transaction if it is not suitable or if a better product comes on the insurance market.
This way the risk of mortgage arrears and repossessions can be reduced.
Article reference 018.
Note The opinions expressed in this article are those of the individual writers and are not representative of Insurur.co.uk.  |
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