Do I have to have a mortgage to get Life Insurance?
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No, your life insurance policy does not have to be connected to a mortgage - many people take them out just to provide additional financial security for the family in the event of their death.
Life Insurance is thought to be a vital aspect of financial protection because it enables people to leave a tax-free lump sum for family or relatives in the event of death during the policy term, so you can be sure they will be financially looked after.
Whilst there is no legal requirement to cover a mortgage with Life Insurance, you
may find that you are not allowed to take out a mortgage with certain mortgage lenders
without getting some form of life insurance.
