If you're like most Australian adults, then chances are that you are currently paying for a mortgage or are applying for one. It could be that you are buying your first home, or are looking to buy an investment property. Either way, you need to protect your future and that of your property. The reason for this is that unless you are healthy, then you won't be able to come up with the funds to help pay for your monthly mortgage repayments.
Now let's say that you suddenly died while you're still paying for your home loan. If you are the head of a family, then you would likely risk their future with this massive financial obligation you left unsettled. They might have to sell off your assets just to be able to pay off the mortgage. On top of that, they would also have to find the money for your funeral.
You could prevent these things from happening if you have life insurance. Here are some reasons why it is important to be insured if you are currently paying for your home loan:
All in all, getting life insurance is all about protecting the people you love the most. It therefore makes sense to apply for one, especially if you have debts to take care of such as your mortgage.
Here at Rate Detective, our professional advisors are ready to help you find the best life insurance for your needs. They will assess your personal circumstances, such as the cost of your mortgage, and provide you with personalised rate comparisons of Australia's top insurers. Contact us today for more details!