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Many expats will experience the largest purchase of our lives to be our home. It is natural to want to protect it against a happenstance of a debilitating illness or loss of life of a loved one on whom the mortgage repayments depend.
As the number of people purchasing property world-wide has risen sharply over the past few years, the market for mortgages has expanded rapidly. Lenders vying for business have relaxed the requirement for borrowers to take out life insurance cover to protect their mortgage repayments. This has led to borrowers being able to secure long-term debt at more favourable rates, however, it has also created a shortfall in protection for the family home.
How would you make repayments on your home if either you or your spouse were unable to work due to developing a critical illness or a severe disability? What if the major income to your household were to stop suddenly as a result of the death of you or your partner?
Decreasing Term Life Insurance can provide peace of mind as it can be used for the purpose of mortgage payment protection since both the amount and the term of the mortgage are fixed.
Expat Insurance is here to make sure you find the right Life Insurance plan to suit your needs. Why not speak to one of our advisors today?