Mortgage insurance
I was told by my less than helpful mortgage adviser that I would be required to take out sufficient mortgage insurance before they agreed to put my mortgage in place and this was done through a term insurance policy. Fortunately once I investigated this I found out that term insurance is very straight forward and unlike many other forms of insurance you don’t need a degree in quantum physics to understand how it works. This may be as there is no investment element of value so the insurer doesn’t need to confuse people, we all know it is dangerous for them when they understand why their policies don’t work!
