Get The Best Mortgage Protection Coverage

If you have a mortgage commitment then you should also consider some form of mortgage protection coverage.

Of course you could rely on the bank where you have a mortgage to provide the cover for you or you could get the cheapest options online, but the biggest problem is knowing what is required – the types of insurance cover and the amounts of each type of cover.

There is also the issue of knowing which of the policies is the best.

Asking Advice About Mortgage Protection Coverage

Many financial products are complex and therefore just like you would ask a mortgage adviser for help with home loans, you should seek expert advice when you are trying to get insurance like mortgage protection coverage to protect yourself.

So who do you ask?

There are some experts that you could ask and when you do you might find that some of those whom you may have thought of as experts have little idea about the various insurance options.

Banks – if you have had much dealing with banks you will understand that most people within the banks no very little about insurance. They maybe should know about the banks own products but even that is not very often the case.

Mortgage Brokers – there are some mortgage brokers that are quite good with insurance; however most are too busy arranging mortgages and keeping up to date with the many changes in the industry and with the banks and other lenders. Most mortgage brokers that ‘sell’ insurance products have limited knowledge and tend to offer a limited range of options. Still better than the banks, but limited all the same.

Financial Planners – while they may know the need is there for mortgage protection coverage they generally they do not like talking about insurance.

Accountants – are generally more interested in tax and while like the financial planners acknowledge the need for some form of cover, most accountants would prefer to refer you to a specialist for insurance advice.

Insurance Advisers – you would seek the advice of a specialist for most important things and you should do the same for insurance, and especially when we are talking about mortgage protection coverage – the insurance that protects you and your family against the biggest financial commitment.

The next question is how do we know which insurance advisers we can trust to provide the advice that we need?

Find An Insurance Adviser

If you have an existing insurance adviser you could speak with them; otherwise seek a referral from a friend, family or from your mortgage broker.

For quality advice on Mortgage Protection Coverage we recommend Risk Solutions.

Office: 09 412 6363

Risk Solutions