Life Insurance

Is your bank offering you insurance? Do I need Life Insurance to get a mortgage? Why do I need insurance when buying my first home?

Despite popular belief, you do not need to obtain Life Insurance in order to get a mortgage. The only insurance required by law when obtaining a mortgage is building insurance.

The main reason why people purchase Life Insurance is to ensure that their families can continue to pay the mortgage in the case of their death. If you are unable to make your mortgage payments, your family may be forced to sell their house and move out. Life Insurance provides a lump-sum payment, usually tax-free, that can be used to pay for a wide variety of expenses such as:

  • Ensuring funds cover funeral fees.
  • Providing money to their family after they’ve passed away.
  • Paying off debts such as credit cards, personal loans, and mortgages.
  • Paying for childcare support if the deceased was the primary caregiver.
  • Providing financial support for their children in the future.
  • Some terminally ill persons choose to use a portion of their life insurance to cover treatment costs or to cross items off their bucket list.

We understand that talking about insurance isn’t always pleasant, but we want you to be able to stay in your home no matter what happens. That’s where The Mortgage Advice Company can help you not only stay put but also keep your lifestyle.

In cahoots, we’ll…

  • Help work out what Life Insurance cover you need.
  • Find the best Life Insurance policy that best suits you and your circumstance.

When buying your first home…

Whatever you do, don’t take the quick and easy insurance option offered by the bank. While bank insurance may appear to be a convenient solution, when it comes down to it, most bank policies aren’t all they’re cracked up to be.

Why choose The Mortgage Advice Company?



We’re a wealth of knowledge on all aspects of insurance and preparedness. We’ll offer professional advice to ensure you have the right cover.



We’re completely independent of any insurance company. We work for you and our recommendations are always in your best interests.



We’re here to ensure that you receive fair and prompt payment, to get you back to normal. In a dispute, we’ll act as your advocate.

Ready to protect your family?

Contact Us Now