Make Sure Your Finances Are In The Best Shape For 2015

The early part of the year is always a good time to review everything including how you have your finances arranged. There is some useful information on websites like the “sorted”…

Is Mortgage Protection Insurance Important?

When you speak to your mortgage broker or bank about your home loan they invariably ask you about mortgage protection insurance – why?

mortgage protection insuranceIt is not just like McDonald’s asking if you want fries with that, it is simply because you have a mortgage which generally means you either don’t have the financial resources not to have a mortgage or you wish to leverage your capital for the maximum return.

Even if you think you are just being “sold” another product, you should take a few minutes to consider why the mortgage broker or bank choose to talk about

Passive Income Negates The Need For Mortgage Cover

Does Passive Income Negate The Need For Mortgage Cover?

Firstly you need to understand the reason people have mortgage cover – to ensure that the mortgage commitments are met while you (the insured) is unable to meet those commitments. This could be due to your inability to earn income from either a disability or death.

Does Everyone Need Mortgage Protection Insurance?

The simple answer is “NO”

You need to ensure that the income you generate does not need your personal exertion.

That is passive income.

As mentioned above, the reason that you would have mortgage cover is to ensure that you can make your mortgage repayments if your income stops so having passive income that continues means your income does not stop

How Much Passive Income Do I Need?

Why Banks Sell You Mortgage Cover

Have you ever wondered why banks sell you mortgage cover?

You Have Just Got A Mortgage

You have just gone through the process of getting a mortgage so that you can buy your new home and while you are exited and grateful to have been approved for the home loan, you are now being asked about mortgage cover.

It seems like a good idea… but do you really need the mortgage cover that the bank are suggesting?

Did You Want A Mortgage?

Of course you did not want a mortgage, but you did want the new home!

House 4

Unfortunately for most people a new home does not come without a home loan.

Finding The Best Income Protection Policy

What Is The Best Income Protection Policy?

best income protection policyIt is not always easy to know what the differences are in all the income covers. You might pick up a brochure from your bank, or see an insurance company advertising and every policy sounds like a good one. The fact is that the insurance companies design and price the policies so that they can easily be sold, and therefore you would expect them to be good polices.

What Makes A Good Income Protection Policy?

Insurance advisers, the banks and even the various insurance companies all have their own opinions so how could anyone be expected to