Many people think mortgage protection cover is too expensive and therefore do not bother with it at all.
Bank staff always try to “sell” mortgage cover and sometimes are successful even if it means people just take the life insurance part of the plan. Mortgage brokers tend to be a little better at explaining the benefits and therefore might provide a more comprehensive type of cover, but still most people will go without.
Is Mortgage Protection Cover Expensive?
In short – it can be expensive!
But insurance cover of any kind is based on the cost of the claims, so an expensive insurance is only expensive because there are a high number of claims or because the claims are for a high dollar value. Either way, mortgage protection insurance is more expensive than most insurances because the insurance companies pay out more in claims.
You could therefore say th
