How much does life cover really cost?
Published ¤ 11/06/2009
Around 20% of people with a mortgage do not have any kind of protection, and when asked why, they said because of the cost.
When you consider the average house is now worth around £160,000, and the average mortgage is about £100,000, most people have a pretty large investment in their homes - £60,000 on average.
So, what does it cost to protect this investment? First, lets look at what people pay to protect their car; most people pay around £3-400 per year, when the car is worth about £10,000.
For a married couple, both aged 30 and non-smokers, it would cost just £10 per month to protect a £100,000 mortgage over 25 years - that is just £120 per year.
So, when, what is probably your largest ever investement, is at risk, don't leave it to chance! Life cover is exceptionally cheap, and a lot cheaper than it was 10 years ago.
See just how much it would cost to protect your mortgage. Click on the link below:
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